Reference no: EM132098003
- Who should come first: employees, customers, or stakeholders?
To understand the role of the stakeholder, and list several examples. Identify several considerations that must be made when managing HR within a multi-constituent organization.
Instructions:
Drawing from your own value system and business philosophy, rank employees, customers, and stakeholders first, second, and third in terms of managerial priority. What is the rationale for your ranking?
-Read the two brief quotes below.
-Based on the opinions of these two respected business leaders, would you change your initial priority ranking? Why? With whom do you agree more, Iacocca or Kelleher? Why?
1) Lee Iacocca, former president of Ford and retired CEO of Chrysler:
Just be sure to take care of your customers. You have to go eyeball to eyeball with them and say, “Do I have a deal for you!” and then stand behind your product or services. Don’t worry about stockholders or employees. If you take care of your customers, everything else will fall into place.
2) Herb Kelleher, co-founder, and chairman of Southwest Airlines:
In the old days, my mother told me that in business school they’d say, “This is a real conundrum: Who comes first, your employees, your shareholders, or your customers?” My mother taught me that your employees come first. If you treat them well, then they treat the customers well; that means your customers come back and your shareholders are happy.
the answer should be more than two paragraph