Chapter 3-

Question 1

What’s a stakeholder?

Answer 1

is an individual, or group, who can influence and/or is influenced by the achievement of an organization’s
purpose

Question 2

stakeholders that influence the corporation and/or that are influenced by the
corporation.

Answer 2

-Owners
-Directors
-Employees
-Customers or Consumers
-Lenders and Creditors
-Suppliers
-Service Professionals
-Dealers, Distributors, and Franchisees
-Business Organizations
-Competitors
-Joint-Venture Participants
-Non-Governmental Organizations (NGOs)
-Society at Large
-Educational Institutions
-Religious Groups
-Charities
-Service, Fraternal, Cultural, and Ethnic Associations
-The Media
-Government
-

Question 3

Categorizing Stakeholders

Answer 3

Stakeholders are sometimes categorized as being external versus internal to the corporation. Mintzberg’s external
influencers are owners, associates, employee associations, the public, and directors, while internal influencers are the
chief executive officers, line managers, operators, analysts of the technostructure, support staff, and ideology.

Question 4

managerial responsibility

Answer 4

Identify stakeholders influenced by, or having an influence on, the corporation.
• Understand how the corporation currently views the stakeholders.
• Examine how each stakeholder will or might influence the corporation.
• Assess opportunities or threats, and the magnitude of their influence on the stakeholder.
• Rank stakeholders by influence.
• Prepare programs or policies detailing how to deal or cope with stakeholders.

Question 5

Issues management

Answer 5

is a systematic process by which the corporation can identify, evaluate, and respond to those economic,
social, and environmental issues that may impact significantly upon it.

Question 6

Crisis Management

Answer 6

• Sometimes an issue will become a crisis for management.
• as an approach involving planning and removing much of the risk and uncertai nty, allowing the corporation to achieve more control over events

Question 7

Fink proposed that there were four stages to any crisis:

Answer 7

prodromal, acute, chronic, and resolution

Question 8

pluralistic society

Answer 8

is one where influence or power is decentralized by dispersing it among a variety of institutions. No one
institution is completely independent of others, but each institution does possess some autonomy to pursue its own interests.

Question 9

A non-governmental organiza tion (NGO)

Answer 9

is any group oulside of the public and private sectors that holds shared values or
attitudes about an issue confronting society.

Question 10

Society at Large

Answer 10

This stakeholder represents the general public; that is, the views of society.