Join Eddie Davila for an in-depth discussion in this video Who are your stakeholders?, part of Business Foundations.
- In business, every decision,…big and small has an impact.…Decisions can result in consequences…we anticipated or they can sometimes…take us in directions we never considered,…impacting things we never imagined.…As humans, most often we've tend to first consider…how things will impact us individually.…Next, we may begin to consider the impact on those we know.…Those we care about. And those we have to answer to.…In business, those who will be impacted…by the decisions we make, they're called stakeholders.…
And as a business manager, it's your job to consider…all known, as well as all possible stakeholders.…In science there's a phenomena…known as the Butterfly Effect.…It's the idea that a small and seemingly…insignificant action can result in a large action.…Picture a butterfly.…When a butterfly flaps its wings…the flapping impacts the air.…And that in turn moves and changes the environment in a way,…that could potentially influence global weather patterns.…The idea makes us think, what would've happened…if there was no butterfly.…
Author
Eddie Davila
Released
10/8/2015He also reviews the basics of the people side of business: managing employees and developing customer relationships. Last, he covers the financial and information management aspects of business and provides a basic explanation of economics, so that you can understand the relationship of your business to the bigger picture.
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- Identify a company’s stakeholders.
- Examine an example that highlights how a company grows.
- Recognize how to make profit-related decisions.
- Determine the delivery logistics and transportation for a product or service.
- Explore the importance of reaching the ideal market for a product or service.
- Determine how much funding a business needs.
- Break down the ideal methods for recruiting, hiring, and training employees.
- Discover effective ways to manage employee relationships.
Skill Level Intermediate
Duration
Views
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Introduction
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Welcome1m 53s
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1. Business Basics
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Understanding profit4m 1s
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Who are your stakeholders?4m 39s
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What are your resources?4m 4s
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Example: How a company grows5m 44s
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2. Determining Your Product or Service
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3. Making and Delivering the Product or Service
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Buying the materials4m 47s
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4. Selling the Product or Service
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Knowing your market3m 11s
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Reaching your market4m 8s
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Marketing and selling3m 7s
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5. Funding Your Business
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Raising capital4m 36s
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6. Leading and Managing People
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7. Developing and Managing Customer Relationships
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Managing customer data4m 21s
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Planning for the future3m 39s
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8. Understanding Your Finances
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Defining accounting4m 1s
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9. Information Systems
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Managing your resources2m 24s
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Making better decisions4m 22s
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10. The Economy
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Role of economics2m 43s
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Supply and demand4m 4s
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Everyday economics4m 33s
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Conclusion
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Wrap-up2m 15s
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Video: Who are your stakeholders?