Shareholders and stakeholders: who do companies work for? How should company performance be measured? Who are stakeholders and what role do they play?
Metrics: how do you measure ethics and corporate social responsibility? What are the right metrics? How do you know which labels and certifications are based on accurate, verified, objective data?
In this week, we have the first worksheet.
Requirements of Worksheet #1: Stakeholders – 8 points
1. In your own words (don’t just quote the text or Google), what is the difference between shareholder capitalism and stakeholder capitalism? Include in your explanation a definition of stakeholder and shareholder (in your own words). (1 point)
2. For an entertainment company like Disney, Netflix, or Comcast , (a) identify four stakeholder categories and (b) briefly describe what their “stake” or interest is in the entertainment sector. Example: if I asked about the retail fashion sector, a stakeholder would be garment workers, and they have a stake in working conditions in garment factories, and in the success of fashion companies so the workers have a steady job. (4 points)
3. Think about a small neighborhood shop or bodega that sells groceries, magazines, household supplies, etc. (a) Who are stakeholders for this business? (1 pt) (b) How and why are they the same or different than stakeholders for a publicly traded entertainment company? (1 pts)
(One point for overall quality of the answer)