6.4 Sytems outside the board Flashcards
What is Edward Freeman’s definition of staekholders?
Anyone group or individual who can affect or is affected by the achievement of the organisation’s objective.
The FRC guidance on board effectiveness provides six checklist questions for boards concerning stakeholder engagement:
1 Can we desribe how our stakeholders are p_________ and why?
2 What are the key concerns for our w_______, suppliers, customers and how are we addressing them?
3 Does the workforce consider that customers and suppliers are treated fairly and that the company cares about its impact on the e__________ and community?
4 Have we sought input from enough stakeholders to be sure we have a rounded view.
5 Have we listened properly to the stakeholder voie and what impact has this had on our d_______?
6 Have we considered how environmental and s______ issues might impact on the business and link to strategy?
prioritised workforce environment decisions social
What is the name of the ICSAs guidance on stakeholder engagement?
“The stakeholder voice inboard decision making: strengthening the business, promoting long term success”
What is “stewardship”?
The duty of an organisation to shepherd and safeguard the organisation and its assets.
Which UK Code addresses stewardship?
The UK Stewardship Code 2010
What does the acronym PESTEL stand for?
Political Economic Social Technological Environmental Legal
