External stakeholders - nonetheless still affected

Priority of shares go to the common shares.

Society - you can substitute with community. Rationale for csr. Supporting each other.

Example toledo city economy mostly revolved around mining. Once the mine shaft closed, there
is no more circulation of cash flow in the area. (no money for residents)

Government - Regulators, example barangay clearance. Businesses have to deal with regulator.
This becomes a breeding ground for corruption. It is a problem.

The future of a business is stakeholders.

The interest of comapnies should not harm future generations.

The balance of benefits is static not dynamic.

VUCA

V - Volatile / Stable
U - Uncertain /
C- Complex
A - Ambiguous

Can be positive and negative

Simplistic thinking

- Unexpected Factors

https://www.youtube.com/watch?v=KleIttf1xA4

1. Build resilience - essential in a VUCA requirement -

- Flexible in a same way that using the analogy of bamboo plant, capacity building
that when the time u need it the most
- Chance favours the prepared mind
- Nothing prepares you for the worst scenarios
2. Have Spare resources ready for rapid action
3. Clarify what you are really trying to accomplish
- Setting goals
- Establish your vision, only then you could do your mission
- What do you want to become - vision, you cannot answer that in one sitting