Coporate Governance, Stakeholders

Question 1

Stakeholder, Governance and ethics chain

Answer 1

Stakeholders -> Purpose -> Governance and Ethics -> Strategy

Question 2

Two types of stakeholders

Answer 2

Internal
External

Question 3

4 Types of External stakeholders

Answer 3

Economic (Suppliers, shareholders)
Social/political (Government agencies)
Technological (Standards agencies)
Community (Local residents)

Question 4

What is stakeholder mapping

Answer 4

Identifies stakeholder power and attention in order to understand political priorities

(Eg. The power/attention matrix)

Question 5

Sources of power for external stakeholders

Answer 5

Control of strategic resources
Involvement in strategy implementation (distribution outlets)
Possession of knowledge and skills
Internal links (informal influence)

Question 6

3 factors that affects stakeholders attention on the business

Answer 6

Criticality (how much it matters)
Channels (communication)
Cognitive capacity (may be too much info to process)

Question 7

Issues of stakeholder mapping

Answer 7

Determining prioritisation of purpose and strategy

Key blockers and facilitators of strategy

Can level of interest of stakeholder be maintained

Will stakeholder positions shift according to the issue/strategy being considered?

Is it desirable to try to reposition certain stakeholders?

Question 8

Types of ownership models

Answer 8

Publicly owned companies
State-owned enterprises
Entrepreneurial business
Family business
Not for profit
Partnerships
Employee-owned firms

Question 9

Corporate Governance

Answer 9

Concerned with the structures and systems of control by which managers are held accountable to those who have a legitimate stake in the org.