Overview
Discussion: This discussion asks you to compare and contrast the growing focus on all stakeholders, rather than just shareholders, within your own organization or an organization you are familiar with.
Read the articles:
- Stop Blaming Milton FriedmanLinks to an external site.
- Business Roundtable Redefines the Purpose of a Corporation to Promote ‘An Economy That Serves All Americans’Links to an external site.
- What Does Stakeholder Capitalism Mean To YouLinks to an external site.?
Now, considering the metrics that are important to your organization, which is it? Milton Friedman or Stakeholder Focus. Why? What are the implications for the future? Use numbers to support your claims. If you think this "stakeholder focus" is all a bunch of hooey, tell us why. Make your case!
Discussion 2: Take the time to reflect on everything that has transpired so far in the class. Think about where we started – pure finance, and where we are now – stakeholder capitalism. Think about Yukon Soap – where would she be if all that mattered were the numbers. Including readings, discussions, papers, innovation resources, and more, reflect on what you have learned, and how it can be applied outside the course. Most importantly, how can the material be specifically applied in your work environment or any other work environment.
Reflection enhances your critical thinking as well as your learning.
Be honest...there is no right or wrong answer here.
This is a final reflection of your learning for the week. Don't just recap what you learned, but consider your learning process and how this week's lesson may be applied in your life.
Assignment: Please review the case, The Yukon Soaps Company: Indigenous Business Growth, in your Harvard Coursepack. There are also additional resources on the Week 4: Overview & Resources page that support this assignment.
The Yukon Soaps Company case hinges on the impact of decisions not only on the company and its profitability, but also on the impact of those decisions on the community and the environment. Your primary goal is to write a memo (4 to 5 pages) to Joella Hogan with your recommendation(s) for her business going forward. As you will see in the case, her primary challenges are: 1) production capacity and 2) the high cost of raw materials.
Be sure your recommendations include options to address the following questions in your memo:
- How has the history of Indigenous peoples in Canada shaped and challenged current Indigenous communities and business opportunities for those communities?
- In what ways is Hogan creating value for her business, her customers, and her community?
- How does this commercial harm affect businesses that operate in this setting? What unique considerations do Indigenous entrepreneurs need to take into account?
- What are the key metrics by which she should measure success?