Mitchell 1997, Stakeholders

Question 1

What is stakeholder theory? Mitchell 1997

Answer 1

A heuristic approach used to describe the management environment, broadening management’s vision beyond profit maximisation to include the interests of non-stockholding groups.

Question 2

According to Freeman’s definition, who is a stakeholder? Mitchell 1997

Answer 2

Any group or individual who can affect or is affected by the achievement of the organisation’s objectives.

Question 3

What three attributes determine classes of stakeholders? Mitchell 1997

Answer 3

Power to influence the firm, legitimacy of the stakeholder’s relationship with the firm, and urgency of the stakeholder’s claim on the firm.

Question 4

What is stakeholder salience? Mitchell 1997

Answer 4

The degree to which managers give priority to competing stakeholder claims.

Question 5

What are the attributes of dormant stakeholders? Mitchell 1997

Answer 5

Possess power to impose their will on a firm, but lack a legitimate relationship or an urgent claim.

Question 6

What are the attributes of discretionary stakeholders? Mitchell 1997

Answer 6

Possess legitimacy, but have no power to influence the firm and no urgent claims.

Question 7

What are the attributes of demanding stakeholders? Mitchell 1997

Answer 7

Have urgent claims, but having neither power nor legitimacy.

Question 8

What are the attributes of dominant stakeholders? Mitchell 1997

Answer 8

Are both powerful and legitimate.

Question 9

What are the attributes of dependent stakeholders? Mitchell 1997

Answer 9

Have urgent and legitimate claims but lack power.

Question 10

What are the attributes of dangerous stakeholders? Mitchell 1997

Answer 10

Characterised by urgency and power but lack legitimacy.

Question 11

What are the attributes of definitive stakeholders? Mitchell 1997

Answer 11

Exhibit power, legitimacy, and urgency.

Question 12

How can latent stakeholders increase their salience? Mitchell 1997

Answer 12

By acquiring one of the missing attributes: power, legitimacy, or urgency.

Question 13

What is the key to more effective management and a more useful theory of the firm in society? Mitchell 1997

Answer 13

Focusing attention on salience in the manager-stakeholder relationships existing in a firm’s environment.

Question 14

What is the managerial perception of stakeholder attributes critical to? Mitchell 1997

Answer 14

The manager’s view of stakeholder salience.

Question 15

What are the three features of stakeholder attributes? Mitchell 1997

Answer 15

Variable status, perceptual quality, and variable consciousness and will.