Chapter 6

Question 1

Stakeholders can be internal or external state some:

Answer 1

Internal:
employees 
shareholders 
management team 
External:
suppliers
customers
creditors local community
government (local or national)

Question 2

Stakeholder expectations ‘win-lose’ situation

Answer 2

one stakeholder wins while one looses.

Question 3

Stakeholder expectations ‘win-win’ situation

Answer 3

all stakeholders ultimately win

Question 4

Stakeholder mapping

Answer 4

y= stakeholder interest x= stakeholder power

managers high y and x

Question 5

What is Corporate social responsibilty

Answer 5

it is the commitment made by a business to contribute to the environment and community

Question 6

Different ways CSR can be done

Answer 6

Reducing waste pollution
Contributing to educational and social programs
Improving the quality of life of the workforce and their families
Earning adequate returns on employed resources
Co-operating with suppliers to improve their ecological and social commitment.

Question 7

CSR should lead to

Answer 7

more efficient use of resources
positive publicity
increased interest by potential stakeholders

Question 8

Business need to manage a relationship with its stakeholder (internal or external)using a combination of;

Answer 8

Communication(transfer of information between people) and

consultation(Talking to interested parties to explain developments and issues)

Question 9

Communication process

Answer 9

1. The sender
2. Message
3. Medium
4. Recevier
5. Feedback

Question 10

When will internal consultations occur?

Answer 10

Internal consultations will happen when a major change is occurring.

Question 11

What deos the stakeholder concept allow

Answer 11

The stakeholder concept allows businesses to take into consideration the views of internal and external groups to improve their business.