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Walter Schroeder Library, Milwaukee School of Engineering
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Marnocha, Thomas J.
Subjects
Social responsibility of business
Corporate governance
MSEM Thesis.
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Marnocha, Thomas J.
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A corporation must s...
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A corporation must satisfy all its primary stakeholders to provide optimal return to its stockholders / by Thomas J. Marnocha.
by
Marnocha, Thomas J.
Subjects
Social responsibility of business
Corporate governance
MSEM Thesis.
Description:
iii, 168 leaves : ill. ; 29 cm.
Contents:
Advisor: Dr. Paul Hudec.
Committee members: Dr. Bruce Thompson, Kimbel Nap.
Introduction -- Sect. 1 Stockholder -- Sect. 2 Employee stakeholder -- Sect. 3 Customer stakeholder -- Sect. 4 Community stakeholder -- Sect. 5 Government stakeholder -- Sect. 6 Supplier stakeholder -- Conclusion -- Appendix A) Incentive program guidelines - B) Developing an understanding of your manager's expectations - C) Customer survey: GE Medical Systems (installation survey) -D) Coopers and Lybrand - benchmark study (GE Medical Systems) -E) Examples of corporate participation in developing regulations -F) Pending employee commute option amendment (dated 1995).
As global competition intensifies, corporations need to satisfy each of their primary stakeholders to optimize stockholder value. For several decades corporations have focused on core competencies typically satisfying only one stakeholder. In the information age, stakeholders are more informed and capable of comparing how different corporations are meeting their needs. The research available, prior to this thesis, centers around satisfying a specific stakeholder. This thesis will integrate the needs of the total primary stakeholder environment to demonstrate how a corporation can optimize stockholder value by satisfying this total primary stakeholder equation.
The total primary stakeholder environment consists of the stockholder, employee, customer, government and supplier. Although at first the author thought the community was a primary stakeholder, he learned that the community did not meet the characteristics of a primary stakeholder but rather that of a secondary stakeholder. As defined by Max Clarkson in A Stakeholder Framework for Analyzing and Evaluating Corporate Social Performance, "A primary stakeholder group is one without whose continued participation a corporation cannot survive in the market."
This thesis demonstrates that through the satisfaction of each primary stakeholder, improved stockholder value is realized. The ability to optimize stockholder value is recognized when a corporation achieves the highest return while leveraging its expenses. Furthermore, some primary stakeholders need to be partially or completely satisfied to successfully satisfy another primary stakeholder. By demonstrating primary stakeholder satisfaction leads to improved profitability thus stockholder value for the corporation, this thesis disproves the current prevailing corporate belief that optimal stockholder value can be achieved by focusing on satisfying only one primary stakeholder. To achieve optimal stockholder value, a corporation must not merely satisfy the interests of a few of the primary stakeholders but must integrate all its primary stakeholders.
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Walter Schroeder Library
Master's Theses
AC805 .M37 1996
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