I need a response to this discussion post:
As we’ve already learned, stakeholders make a business successful. Rarely in any business are the stakeholders on the exact same page. All of them will look at what is in the best interest of themselves. It is the CEO’s job to rank the importance of the stakeholders. Typically, in a customer based business, the stakeholder priority would rank in the following order: Customer, employees, shareholders, suppliers, local community and government (Drucker, n/d). So if you break it down the top three, the customer wants the most cost effective, best product, employees want a fare wage and shareholders want profit. In my opinion, changes to any of these three would create conflict. For example, if Apple were to raise the wages for all of their employees, this could effect the profit of shareholders. Not to mention, drive the cost of their products up that customers are required to pay. On the other side, if they made cuts to their staff it would have a negative impact on customer service, in-turn hurting the profit line.
“The material in this module tells us that many companies place disproportionate emphasis on the financial perspective at the expense of the other three perspectives. Give an example of an organization which you are familiar from either previous coursework, the news, or personal experience where this has been the case. What were the results of this focus on the financial perspective on customers and other stakeholders? Be as specific as you can and give concrete examples. [This TD is designed for you to respond to the above question/topic during the first week of the module. During the second week of the module please read through responses by peers and post a second response addressing one or more of the shared ideas. Please bring in new ideas/comments and research that haven’t been mentioned yet. An “A” grade needs at least two strong entries with at least one of them supported by research, with the source cited.”