Stakeholder Dynamics in Business Society

📋 Course Outline

1. Business-Society System
2. Shareholder vs Stakeholder
3. Stakeholder Identification
4. Stakeholder Interests
5. Stakeholder Power Types
6. Stakeholder Coalitions
7. Stakeholder Salience
8. Stakeholder Mapping
9. External Business Environment

📖 1. Business-Society System

🔑 Key Concepts & Definitions

Business-Society System: An interactive social system where business organizations and society continuously interact and influence each other, forming a dynamic relationship that shapes both entities.

General Systems Theory (GST): The idea that organizations and social systems are interconnected and cannot be understood in isolation; they are part of a broader, interdependent network where each component influences and is influenced by others.

📝 Essential Points

• Business and society together form an interactive social system.
• Businesses are embedded within society and do not operate in isolation.
• Society consists of human beings and the social structures they create.
• According to GST, organizations and social systems are interconnected, emphasizing that understanding one requires understanding the other.
• The purpose of business is linked to its relationship with society, including responsibilities beyond profit, such as social and environmental considerations.
• The relationship is dynamic, with external forces continually reshaping how business and society interact.

💡 Key Takeaway