Chapter 1
THE SOCIAL DIMENSION OF FIRMS
SUMMARY: 1.1. The firm’s overall system. – 1.2. Grounding relationships within the firm’s overall system: Stakeholder Theory. – 1.3. Definition and coordinates of the firm’s social dimension. – 1.4. The drivers of the firm’s social dimension. – 1.4.1. Corporate governance. – 1.4.2. The role of communities, culture and values in the firm’s management. – 1.4.3. The role of market and competition in firms’ management. – 1.5. Representation of the firm’s social dimension.
1.1. The firm’s overall system
The firm, viewed as an evolving system, relates and interacts with the market system and other rules and institutions named “environmental systems”, which constitute a set of conditions and circumstances ...
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