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Del curso dictado por University of Virginia

Advanced Business Strategy

484 calificaciones

University of Virginia

Advanced Business Strategy

484 calificaciones

Curso 2 de 5 en SpecializationBusiness Strategy

Advance your strategic analysis skills in this follow-up to Foundations of Business Strategy. In this course, you'll learn the tools to analyze strategy across time (competitive dynamics), industries ( corporate strategy), geographies (international strategy), and institutions (non-market strategy). We'll introduce the tools you need to complete a comprehensive evaluation and understand the strategy dynamics of an industry: Competitive Lifecycle, Internationalization and Stakeholder Analyses, and Diversification Matrices. We'll apply these tools in case studies of industry leaders Disney, Orascom Telecom Holding, Sony, and GE Healthcare India.

De la lección

Stakeholder Strategy

How can a firm's values add value to the firm? Stakeholder management is a way of thinking about ethical considerations impacting an organization's strategy. In this module, we'll discuss how effective business strategy considers the impact of a firm's decisions and actions on various stakeholders, both primary and secondary, and uses that knowledge to guide strategic actions. By the end of this module, you'll be able to complete a stakeholder analysis and apply this tool in a case study about GE Healthcare.

Introduction to Stakeholder Strategy4:05

Creating Value for Stakeholders5:39

Aligning Key Stakeholders5:26

Aligning Secondary Stakeholders6:35

Sources of Institutional Pressure9:26

Value Creation and Your Values3:09

Module Lessons3:48

Conoce a los instructores

Michael Lenox
Senior Associate Dean and Chief Strategy Officer
Darden School of Business
Jared Harris
Samuel L. Slover Research Chair in Business Administration
Darden School of Business

We've been talking about stakeholder strategy or

what's commonly referred to as managing for stakeholders.

And this is one of the most fundamentally important ideas in business strategy.

It's potentially the tool or framework where we most readily see capabilities and

opportunities come together with our values, our values as an organization.

What's our purpose?

What are we focused on?

How do we operate?

And of course the idea is that the objective of

a business organization is to create value for a number of different parties.

Our financial investors, yes, but also our employees and customers and others.

And while this seems like an intuitively obvious idea,

firms definitely vary on how effective they are at managing their divergent and

different stakeholder interests.

So I think there's been some key takeaways from this particular topic.

First of all, the purpose of a business organization involves creating value for

the key stakeholders of that business.

Indeed, a business could be seen as a set of relationships among all of those

stakeholders.

And the manager, or the leader, or

the executive's job, is to shape those relationships.

Second, different types of stakeholders seek different types of value.

So it's important to understand the different types of value the different

stakeholder groups are seeking from you as a business organization.

Also, effective organizations work to align the interest,

as best they can of the firm's key stakeholders.

There's lots of ways to manage this particular challenge of stakeholder

management.

There's lots of ways to approach it, but if we're trying to

dissolve some of the tradeoffs and align the interests as best we can,

that points to the best long-term value creation for all of those stakeholders.

Another takeaway is the idea that effective business strategy should

carefully consider the impact of a firm's decisions or

actions on those various stakeholders.

A business organization doesn't operate in a vacuum, and

you need to carefully consider the impact of a particular strategic choice,

an expansion entering a new market, altering a product.

Engaging in different types of decisions in your value chain among suppliers,

for example.

All of these things can have an impact on various stakeholders that are critically

important for the viability of the business organization.

And of course this analysis can point the way to effective strategic actions.

Better understanding what our stakeholders value and

better understanding the impact of our potential choices

on those stakeholders can point the way to effective strategic actions.

Also, secondary stakeholders can't, and probably shouldn't, be ignored.

Although stakeholder pressure can result from political motivations from those

secondary stakeholders, it does often reflect an underlying normative or

a distributional conflict or problem.

So the point here, is that if stakeholder tensions arise, if there's some action or

some pressure being applied to a particular business firm, it may in fact,

arise from some underlying problem in the stakeholder relations and

the way those stakeholders are being managed.

Finally, stakeholder management is a way of thinking about ethical considerations

in an organization's strategy.

It's impossible to separate the way we think about ethics and

values from the way we think about value creation and our business operations.

And stakeholder management,

thinking about our stakeholders in an active way, is one of

the ways that we can be sure we're trying to think about the impact of our actions.

And the way we're creating value for lots of different stakeholders.

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