Question 1

Some authors indicate that the corporate model needs redefinition because of all the following except

Accepted Answer

A)  Business size 
B)  Socioeconomic power 
C)  Inadequacy of the ownership model and its implications 
D)  Responsiveness

Question 2

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. -Are the natural environment and nonhuman species properly considered stakeholders of the firm? Defend your answer.

Accepted Answer

The answer of <b>Utilize the knowledge you have gained to...

Question 3

An individual or group who can affect or be affected by an organization is a(n)

Accepted Answer

A)  stakeholder. 
B)  stockholder. 
C)  shareholder. 
D)  owner.

Question 4

The challenges of stakeholder management include all of the following except

Accepted Answer

A)  assuring that the firm's primary stakeholders achieve their objectives. 
B)  seeing to it that the firm's secondary stakeholders are treated ethically and are relatively satisfied. 
C)  making the firm profitable. 
D)  maintaining strong relations with governmental stakeholders.

Question 5

The assumption underlying the instrumental value of the stakeholder model is that effective stakeholder management should lead to achievement of traditional business goals such as profits and growth.

Accepted Answer

A) True 
 B)False

Question 6

The recommended strategy for nonsupportive stakeholders is to

Accepted Answer

A)  monitor them. 
B)  defend against them. 
C)  involve them. 
D)  collaborate with them.

Question 7

If we consider the stakeholder typology, and the three attributes of power, group number one on the top outside is called:

Accepted Answer

A)  A dormant stakeholder 
B)  A dangerous stakeholder 
C)  A demanding stakeholder 
D)  A nonstakeholder

Question 8

Stakeholders who have a high potential for cooperation and a low potential for threat to the firm are known as ____ stakeholders.

Accepted Answer

A)  mixed blessing 
B)  supportive 
C)  nonsupportive 
D)  marginal

Question 9

Provide a short answer to each of these questions. Be sure to fully explain your answer. -Summarize the principles of stakeholder management.

Accepted Answer

The answer of <b>Provide a short answer to each of...

Question 10

Which of the firm's social responsibilities is not relevant in analyzing management's duties to stakeholders?

Accepted Answer

A)  economic 
B)  legal 
C)  ethical 
D)  philanthropic

Question 11

Which of the following is not a strategy or action alternative in best addressing stakeholders?

Accepted Answer

A)  Deal directly or indirectly 
B)  Take offense or defense 
C)  Collaborate or participate 
D)  Manipulate or resist

Question 12

Which of the following is not a strategic step toward successful stakeholder management?

Accepted Answer

A)  integrating stakeholder management into the firm's governing philosophy 
B)  setting goals for stakeholder inclusion 
C)  creating a stakeholder-inclusive values statement 
D)  implementing a stakeholder performance measurement system

Question 13

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 does not specify how managers should view the function of stakeholders. Some view stakeholders as just additional groups to be managed for the benefit of the firm and its owners. Others view stakeholders as groups to whom the firm has certain responsibilities that are equally important to duties owed to owners. Discuss this issue and defend your stance.

Accepted Answer

The answer of <b>Utilize the knowledge you have gained to...

Question 14

Which of the following is not an attribute upon which managers judge the importance of stakeholders?

Accepted Answer

A)  power 
B)  urgency 
C)  legitimacy 
D)  nationality

Question 15

Some authors now argue that stakeholder inclusion is the key to corporate success.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is not recognized as a type of stake?

Accepted Answer

A)  an interest 
B)  an option 
C)  a right 
D)  ownership

Question 17

A major criticism of the stakeholder management approach is that it is extremely complex and time consuming.

Accepted Answer

A) True 
 B)False

Question 18

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. -This chapter of the textbook has made a strong case for the use of stakeholder management. Discuss reasons why firms may choose not to utilize this model.

Accepted Answer

The answer of <b>Utilize the knowledge you have gained to...

Question 19

The view of the firm that recognizes just suppliers and customers as stakeholders is the

Accepted Answer

A)  production view. 
B)  managerial view. 
C)  ownership view. 
D)  stakeholder view.

Question 20

The view of the firm that recognizes suppliers, customers, employees, and owners as stakeholders is the

Accepted Answer

A)  production view. 
B)  managerial view. 
C)  ownership view. 
D)  stakeholder view.

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

Some authors indicate that the corporate model needs redefinition because of all the following except

An individual or group who can affect or be affected by an organization is a(n)

The challenges of stakeholder management include all of the following except

The assumption underlying the instrumental value of the stakeholder model is that effective stakeholder management should lead to achievement of traditional business goals such as profits and growth.

The recommended strategy for nonsupportive stakeholders is to

If we consider the stakeholder typology, and the three attributes of power, group number one on the top outside is called:

Stakeholders who have a high potential for cooperation and a low potential for threat to the firm are known as ____ stakeholders.

Provide a short answer to each of these questions. Be sure to fully explain your answer. -Summarize the principles of stakeholder management.

Which of the firm's social responsibilities is not relevant in analyzing management's duties to stakeholders?

Which of the following is not a strategy or action alternative in best addressing stakeholders?

Which of the following is not a strategic step toward successful stakeholder management?

Which of the following is not an attribute upon which managers judge the importance of stakeholders?

Some authors now argue that stakeholder inclusion is the key to corporate success.

Which of the following is not recognized as a type of stake?

A major criticism of the stakeholder management approach is that it is extremely complex and time consuming.

The view of the firm that recognizes just suppliers and customers as stakeholders is the

The view of the firm that recognizes suppliers, customers, employees, and owners as stakeholders is the