Value Creation and Your Values

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Del curso dictado por University of Virginia

Advanced Business Strategy

546 calificaciones

University of Virginia

Advanced Business Strategy

546 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 stakeholders strategy.

And specifically we've been focusing for a few minutes on

this idea of institutional pressures from secondary stakeholders.

And related to that,

the so called non-market strategies that business organizations can employ

to try to respond to or preempt and deal with those kinds of pressures.

But here's the thing.

Sometimes the conversation about institutional pressures and

secondary stakeholders can seem awfully instrumental.

It sounds, sometimes, like we're just talking about move, countermove, and

it's a game that gets played with the media and with the regulators.

And it's about influencing those.

I guess it's about that at some level.

But it's also important to think beyond the immediate financial impact

of effective stakeholder management.

Remember, creating value for stakeholders is something that

happens when you occupy a valuable, competitive position.

So that has something to do not only with your capabilities as a business

organization and the market opportunities that you're pursuing, but

it also has to do in a big way with your values.

What is it that you value as an organization?

What's your mission?

What's your purpose?

What is the way that you do business?

And the thing is, our values are often sort of manifest

in the way that we interact with our stakeholders.

So the key idea here is that it's important to see

if a business organization's stakeholders is ends and not just means to profit.

These are our partners.

This is a set of relationships with a variety of parties,

stakeholders, that are important to us.

And our purpose as a business is to create value for them.

All of them.

And it turns out that the best way to create value for

your financial investors is to create great products that customers want.

And to do it in a way that you can attract and retain the best employees because

you're creating a lot of value for them, and so on.

So this idea of stakeholder management is not simply just a pathway

to increasing a strategies effectiveness or increasing profits this next quarter.

But rather, value creation involves your values and

when you're formulating and executing and adjusting your strategy.

That's often times the place where you should start.

You should be really clear about what we value as an organization and

that really gets to how do you want to lead or manage.

There's lots of ways to run a business.

There's lots of ways to run a successful business.

But when you think about your stakeholders as partners in the value creation process

you begin to think about your need to create value for them differently.

You see them as not just means to your financial well being, but you see

them as business partners that you can engage with, that you need to understand.

You need to put names and

faces on those stakeholders and see them as partners in your business organization.

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