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5 - The driving forces of markets and stakeholders' connectedness

from Part I - Enterprise thinking, the driving forces of change, and leadership

Published online by Cambridge University Press:  04 December 2009

David L. Rainey
Affiliation:
Renssalaer Polytechnic Institute, Connecticut
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Summary

Introduction

Throughout the 1990s, customer satisfaction reigned supreme in the mindset of corporate executives, managers, and marketing professionals as they tried to differentiate their products and improve corporate performance. While customer satisfaction remains critical for realizing positive outcomes today, it is a subset of the more inclusive view of total satisfaction that also includes meeting broader stakeholder expectations and societal needs. Total satisfaction necessitates solutions that include social, economic, and environmental considerations. Great solutions are balanced from every perspective: they exceed needs, create exceptional value, and satisfy expectations.

With the dramatic expansion of information and knowledge provided through the Internet and world-wide media, customers and stakeholders are empowered with facts, figures, and specifications about products and processes that would have been impossible to obtain a decade ago. In many situations, customers know as much about the products they buy as do the individuals selling them. They can scrutinize the competitive landscape to find the right product at the right price. Moreover, customers and stakeholders can share their opinions and perceptions with thousands of others who are interested in the veracity and accuracy of product claims, advertising messages, process outcomes, waste problems, and any negative impacts associated with production and use. It is becoming more difficult to espouse only positive attributes using glossy marketing campaigns or fancy promotions, or to mislead people through false impressions.

Type
Chapter
Information
Sustainable Business Development
Inventing the Future Through Strategy, Innovation, and Leadership
, pp. 270 - 335
Publisher: Cambridge University Press
Print publication year: 2006

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References

Global Environment Management Institute (Global Environmental Management Initiative) (1988) Environment: Value to Business. Washington, DC: Global Environmental Management Initiative
Global Reporting Initiative (Global Reporting Initiative) (1999) Sustainability Reporting Guidelines: Exposure Draft for Public Comment and Pilot Testing, March
Global Reporting Initiative (Global Reporting Initiative) (2002) Sustainability Reporting Guidelines
Kolk, Ans and Veen, Mark (2002) KPMG International Survey of Corporate Sustainability Reporting 2002. Maasland: KPMGGoogle Scholar
Lomborg, Bjørn, (2004) Global Crises, Global Solutions. Cambridge: Cambridge University PressCrossRefGoogle Scholar
Pine, J. B. II (1993) Mass Customization. Boston, MA: Harvard Business School PressGoogle Scholar
Carroll, Pursell Jr. (1990) Technology in America: A History of Individuals and Ideas, 2nd edn. Cambridge, MA: MIT PressGoogle Scholar
Rogers, Dale and Tibben-Lembke, Ronal (2001) “An examination of reverse logistics practices,”Journal of Business Logistics, 22(2)CrossRefGoogle Scholar
Sustainable Development in a Dynamic World: Transforming Institutions, Growth, and Quality of Life. World Development Report 2003. Washington, DC: World Bank

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