Lobbying, Networking, and Power Relationships

Question 1

What is “hedging against inflation” in lobbying?

Answer 1

Trying to influence policies to protect against rising prices

Question 2

What is “bargaining sessions between management and unions” in lobbying?

Answer 2

Negotiating with worker unions to influence labor laws

Question 3

What is “influencing supervisory body/regulators” in lobbying?

Answer 3

Trying to change rules set by government agencies

Question 4

What is networking?

Answer 4

Building relationships with others for mutual benefit

Question 5

Why is networking important for businesses?

Answer 5

It helps find opportunities, resources, and support

Question 6

Give a practical example of networking

Answer 6

Attending industry events, joining business groups, using social media

Question 7

What are the advantages of networking?

Answer 7

Increased knowledge, new business leads, better reputation

Question 8

What are power relationships in business?

Answer 8

Relationships where one party has influence over another

Question 9

Give an example of how businesses form power relationships

Answer 9

Strategic alliances, persuading investors, company representatives influencing

Question 10

How do you identify lobbying, networking, and power relationships in scenarios?

Answer 10

Look for attempts to influence, relationship building, and displays of influence