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52 Cards in this Set
- Front
- Back
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Utilitarian Value |
Value that is functional in nature Hammer = useful |
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hedonic value |
Emotional benefit Pink hammer = Breast cancer Awareness= emotional |
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Marketing Mix |
Tools to implement IMC Product, Price, Place,Promotion |
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Sustainability |
Triple bottom line; ppl, plant profit; meets needs of present w out compromising future |
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Profit |
Money that remains in business after expenses are deducted |
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Profitability |
Long term potential of business |
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Business Model |
How will it operate ? Assets, labour, capital, managerial acumen |
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Business Model |
How will it operate ? Assets, labour, capital, managerial acumen |
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Value Proposition |
How a customer will perceive; competitive advantage? |
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Assets include |
Natural resources, buildings, machines |
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Managerial acumen |
Knowledge, skill set required by managers to implement business model |
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Value proposition relationship |
Labour, assets, capital, managerial acumen |
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Value proposition relationship |
Labour, assets, capital, managerial acumen |
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Large Stakeholder |
Government, civil society, other businesses |
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Sustainability requires a _ approach to operate long term |
Holistic |
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Ethics |
Moral dilemma (human rights, income equality) |
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Sustainably developed countries |
Equal distribution of wealth and global environment footprint is within planetary threshold |
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Stakeholder GoodWill |
Positive Attitude toward organization among stakeholders ( trust, credibility |
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Greenwashing |
Misleading impression appearing more environmental than it really is “ clean diesel “ |
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Sustainable |
Social, economic, & environmental |
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Value |
A product or service solves a problem for customers |
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Goodwill can be generated thr |
IMC which ensures that all internal and external communications are consistent w stakeholders |
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Strategic Management |
Process of crafting and implementing organizational strategies w the goal of achieving competitive advantage |
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Strategic management process involves 4 phases |
Vision, mission, objectives, and environment analysis |
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Vision |
Business’s future and its aspirations |
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Mission |
Day to day activities of the business |
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Responsibility |
Stakeholders ( Labor standards, consumer rights, workplace diversity ) |
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Objectives |
Measurable quantities and qualitative targets |
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Analyzing strategic environment |
Using tools such as Porters five forces, value chain model, SWOT analysis |
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Porters five forces |
1. threat by new competitors 2.current competitors 3. Changes 4. Suppliers have bargaining power ? 5)buyers have bargaining power |
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Value Chain |
All activities a business performs in logistics, operations, marketing, infrastructure,HRMT, technology |
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SWOT analysis |
Internal and external in nature and + - Strengths positive internal Weakness negative internal Opportunity positive external Threats negative external |
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Social innovation |
Business that innovates w it’s own structures, processes and products to create social value. Entrepreneurs = heros |
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Social mission |
Creating social value as a driver for success. Like loans |
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Socialized ownership and control perspective |
Democratic framework in which everyone is involved. Pay loans cuz if peer pressure not cuz if interest |
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Responsibility category |
Business is fulfilling legal. Ethical, discretionary responsibility |
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Stakeholder Responsiveness |
How a business responds to stakeholder claims. Reactive/ defensive/ accommodative/ proactive |
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Fragmentation vs Holism |
Frag: everyone works in their own disciplines Holism; ppl work together to achieve results |
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Issues maturity |
How we’ll established the issues are that a company is responding to. Many types of issues |
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Institutionalized issue |
Commonly understood Expected to recognize and avoid Human rights |
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Consolidating issue |
Understood Common business practice Not expected but stakeholders Ex carbon emissions |
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Emerging issues |
Basic awareness such as concept of living wage vs min wage |
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Latent issues |
Issues yet to reach public eye |
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Organizational implementation |
How prepared a business is to address social responsibility Poor job integrating responsibility to operations =isolated implementation |
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Civic implementation |
Excellent job implementing responsibility |
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Substitution vs Complementation |
Sub: one form of capital can be subed for another form Com; all 3 components ( Econ, social, environment)are mutually important |
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Status Quo vs Change |
Status: incremental changes and simple increases Change: drastic systemic changes |
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Masters vs Equals |
Master “ world is made for man not man for world” Equal- animals, forest have right to be treated with respect and responsibility |
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Economically underdeveloped countries |
Little inequality, poor, low levels of consumption = min environment impact |
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Economically developing countries |
Increase inequality, economic opportunities, exploitation of natural capital |
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Economically developed countries |
Decrease inequality thr middle class, more efficient production decrease negative environment impact |
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Sustainably developing countries |
High equality thr middle class, sustainable production/ consumption patterns |
