A Stakeholder Approach to Business and Ethics

Which of the following statements is accurate?

• Stockholders are the same thing as stakeholders 

• All stakeholders are stockholders 

• Stakeholders are a subset of stockholders. 

• Every stockholder is a stakeholder. 

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

• integrating stakeholder management into the firm's governing philosophy 

• setting goals for stakeholder inclusion 

• creating a stakeholder-inclusive values statement 

• implementing a stakeholder performance measurement system 

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

• Deal directly or indirectly 

• Take offense or defense 

• Collaborate or participate 

• Manipulate or resist 

Recognition that all stakeholders depend on each other for their success and financial well-being is a concept known as

• stakeholder symbiosis

• mutual benefit analysis

• interdependency

• stakeholder synthesis

Stakeholder management capability is thought of in three levels. Which is considered the highest level?

• the rational level 

• the process level 

• the intangible level 

•   

  the transactional level 

 Which of the following is not a valid criticism of stakeholder management?

• It is very time consuming 

• Ranking of stakeholder claims is very difficult

• Managers are not trained in this type of management 

• It increases the complexity of decision-making 

The recommended strategy for nonsupportive stakeholders is to

• monitor them 

• defend against them 

• involve them

• collaborate with them 

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

• economic

• legal

• ethical

• philanthropi

. Which of the following is not listed as a question to ask in order to gain the essential information needed for stakeholder management?

• Who are our stakeholders? 

• What do our stakeholders want? 

• What are our stakeholders' stakes? 

• What opportunities and challenges do our stakeholders present to the firm?

Which of the following is not considered an important function of stakeholder management?

• to lead

• to understand

• to analyze

• to manage