In the past, firms primarily focused on maximizing shareholder returns. However, today, firms are increasingly called upon to address the myriad interests of additional stakeholders including employees, suppliers, customers, and local communities, as well as the government, special interest groups, consumer advocacy groups, competitors, complementors, ecosystem members, and industry or technology groups. In doing so, managers are increasingly asked to balance firm the firm’s pursuit of growth and profitability with addressing society’s wicked problems, complex societal issues that are extremely difficult or even impossible to solve due to competing interests. As a result, managers today must understand how to manage the interests of these various stakeholders.
This course prepares executive MBA students to map these various stakeholders and correctly identify their interests. It also teaches them to pinpoint what is driving these interests and to recognize how they converge or conflict across stakeholders (formulating the problems correctly). Students will also weigh these tradeoffs between stakeholders, finding win-win solutions in some cases, and making difficult decisions in others. In doing so, they will also explore the question of whether a stakeholder approach to business increases or hinders profitability. As such, they will learn through practice, how to address wicked problems at the intersection of business and society, such as sustainability (Forever Chocolate case), social welfare (Phillip Morris case), inclusiveness (Aparigrahi Yoga case) and food insecurity (FoodXervices and Food Bank case). Thus, this course provides executive MBA students with tools to support the growth of their businesses while simultaneously tackling global societal challenges.
View full course description at the Office of the Registrar.