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Exam 3: The Stakeholder Approach to Business, Society, and Ethics.

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Question 21

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A group of people who is able to influence the firm, but does not hold a direct stake in is known as

A) primary social stakeholders.
B) secondary social stakeholders.
C) primary nonsocial stakeholders.
D) secondary nonsocial stakeholders.

E) None of the above
F) A) and D)

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Question 22

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Because stakeholder challenges usually contain a risk of damage to the firm, they are given more attention than stakeholder opportunities in the textbook.

A) True
B) False

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Question 23

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To get a corporation to respond to its demands a stakeholder must hold all three attributes of power, legitimacy, and urgency.

Provide a short answer to each of these questions. Be sure to fully explain your answer. -Describe the levels of stakeholder management capability.

Responsibilities for stakeholder management include all of the following except

Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it. -The textbook provides an example of stakeholder attributes when it discusses the case of Home Depot, old growth wood, and environmental activists. Discuss this case in terms of the environmental group's legitimacy, power, and urgency.

The transactional level of stakeholder management capability requires companies to compete on the basis of their financial strength and tangible assets.

A group of people who represents the interests of a nonhuman species (such as the natural environment) and does not have a direct stake in the firm is known as

The view of the firm that recognizes a wide variety of groups as stakeholders is the

Provide a short answer to each of these questions. Be sure to fully explain your answer. -Stakeholders present both opportunities and challenges to the firm. Why does the textbook choose to focus only on the challenges?

The view of stakeholders that recognizes the firm's moral responsibilities to all stakeholders, but that they should not be seen as fiduciary obligations is called the

The degree to which a stakeholder's claim requires immediate response is its

Utilize the knowledge you have gained to respond to the following essay questions. Your answers should state your position and use logical arguments and content from this and other chapters in the textbook to support it. -Stakeholder management, with its normative content, holds out the promise of positive outcomes to the firms that use it. Discuss some of these expected outcomes and evaluate their likelihood of occurrence and their importance to the firm.

Stakeholders that are perceived to have high levels of power, legitimacy, and urgency are referred to as

A major distinction between the managerial view of the firm and the stakeholder view is the recognition that groups who think they have a stake in the firm are properly included as stakeholders, whether managers of the firm agree with them or not.

The key to effective stakeholder management is in its implementation.

An interest or share in something is referred to as a(n)

One of the reasons that the stakeholder model is becoming more popular is because the stakeholder environment is finally calming down after several decades of turbulence.

Which of the views of the firm recognizes the fewest stakeholders and is the least complex?

Business organizations must address the legitimate needs and expectations of stakeholders because