作者:mark jenkins 18 年以前
554
Discuss how stakeholder objectives might impact on shareholder value
Answer to an exam question for classroom discussion
Discuss how stakeholder objectives might impact on shareholder value
Overall
will always be compromise
cannot meet all objectives
Depends on
The actual costs of meeting stakeholder objectives
Relative strength of stakeholder groups
Do they have media suppport
Are they organised
Positive impact
Reason: loyalty, avoidance of bad publicity etc
Better treatment of stakeholders leads to long term benefits
long term view
Stakeholder concept
Negative impact
E.g.
or increase in investment cost
negative impact on cash flow
increase in costs
lower emissions
Environmental group
negative impact on cashflow
objective: higher wages
Employee
Define
in practice does not affect overall answer too much
traditional would be
shareprice
dividends
now focused on discounted net cash flow less cost of investment
accounts for time value of money
profit discredited measure