Stakeholder Management
Exam Answer Key
Course Introduction
Stakeholder Management explores the strategies and techniques necessary for identifying, analyzing, and engaging individuals or groups who have an interest in or are affected by a project, organization, or initiative. The course covers stakeholder theory, mapping and prioritization, communication planning, expectation management, and conflict resolution. Emphasis is placed on developing practical skills for building strong relationships, addressing diverse interests, and navigating the complexities of stakeholder dynamics to achieve successful project and organizational outcomes. Students will apply stakeholder analysis tools through case studies and real-world scenarios, preparing them to effectively manage stakeholder influence and foster collaboration in various professional contexts.
Recommended Textbook
Business and Society Ethics Sustainability and Stakeholder Management 10th Edition by Carroll
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Page 2
Chapter 1: The Business and Society Relationship
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Sample Questions
Q1) Power is only manifest when it is used purposefully.
A)True
B)False
Answer: False
Q2) The textbook says that when power gets out of balance, other forces are brought to bear so that balance is restored. Name some of the other forces that are used to balance business power. Describe how effective each of those other forces is in combating business power.
Answer: John Kenneth Galbraith, one of the most influential economists of the 20th century, termed these other forces countervailing powers. Some of these include the power of unions, government regulation, religious tenets, and societal pressures. Students should describe, with some detail, how the countervailing powers could mitigate business power. However, they should also recognize that business power is, by far, the single strongest current in society today. Unions have been effectively neutralized, business heavily influences government regulation, and religion has suffered a significant decline in its influence.
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3
Chapter 2: Corporate Social Responsibility, Citizenship, and Sustainability
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Sample Questions
Q1) The ____ portrays the concurrent fulfillment of the firm's economic, legal, ethical and philanthropic responsibilities
A) Pyramid of Corporate Social Responsibility
B) Corporate Citizenship concepts
C) Social Response Cycle
D) None of these
Answer: A
Q2) An argument for corporate social responsibility is that it helps business compete in the global economy.
A)True
B)False
Answer: False
Q3) A society more satisfied with corporate social responsiveness, performance, and citizenship will invariably have reduced criticism of business.
A)True
B)False
Answer: False
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Page 4
Chapter 3: The Stakeholder Approach to Business, Society, and Ethics
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Sample Questions
Q1) 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
A) primary social stakeholders.
B) secondary social stakeholders.
C) primary nonsocial stakeholders.
D) secondary nonsocial stakeholders.
Answer: D
Q2) Which of the following is not recognized as a type of stake?
A) an interest
B) an option
C) a right
D) ownership
Answer: B
Q3) The transactional level of stakeholder management capability requires companies to compete on the basis of their financial strength and tangible assets.
A)True
B)False
Answer: False
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Chapter 4: Corporate Governance: Foundational Issues
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Sample Questions
Q1) The people hired by the board to run the company and operate it on a daily basis is A) the employee council.
B) management.
C) administration.
D) headquarters.
Q2) Personal liability for a corporate board member means that
A) directors have a legal obligation to pay all debts of the corporation.
B) directors have a legal obligation to pay all debts of the corporation if the company cannot.
C) directors may be sued for breach of fiduciary duty.
D) directors have a personal responsibility to the shareholders.
Q3) The issue at the heart of the Sarbanes-Oxley Act is protection for whistle-blowers.
A)True
B)False
Q4) Why is insider trading illegal and considered unethical? Isn't that exactly what financial markets are supposed to do--reward those who make good decisions?
Q5) Discuss the role of shareholder democracy in corporate governance.
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Chapter 5: Strategic Management and Corporate Public Affairs
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Sample Questions
Q1) The overarching strategy level that asks what role the firm plays in society and what the firm stands for is the ____ level.
A) enterprise
B) corporate
C) business
D) functional
Q2) Some management scholars believe that the successful firms of the future will be those that can meet stakeholders' social expectations and investment advisors' financial expectations.
A)True
B)False
Q3) Public Affairs activities and functions include all of these EXCEPT:
A) community relations
B) public relations
C) public advertising
D) government affairs
Q4) According the text, the overriding questions that enterprise-level strategy needs to address is, "What do we stand for?" Why is that question considered so important?
Q5) What is meant by a public affairs strategy?
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Chapter 6: Risk, Issue, and Crisis Management
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Sample Questions
Q1) Issues management can be viewed as a type of pre-crisis planning and post-crisis management.
A)True
B)False
Q2) Which is not a key question to help with issue analysis?
A) How did it start?
B) Who started the ball rolling?
C) Who is now involved?
D) Who will get involved?
Q3) The formulation stage of the issues management process involves designing the firm's response to the issues facing it.
A)True
B)False
Q4) An emerging issue is characterized by all of these EXCEPT:
A) the terms of the debate are clearly defined.
B) the issue deals with matters of conflicting values and interest.
C) the issue is often stated in value-laden terms.
D) trade-offs are inherent..
Q5) Describe some of the major differences between issues management and crisis management.
8
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Chapter 7: Business Ethics Essentials
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Sample Questions
Q1) A recent NBES survey indicated that ethical misconduct at work was up slightly.
A)True
B)False
Q2) Researchers have found that many business people go through life thinking that they are objective.
A)True
B)False
Q3) The model of ethical management in which managers fail to take morality into account when making decisions is
A) immoral management.
B) moral management.
C) semi-moral management.
D) amoral management.
Q4) If business ethics have, in reality, declined over the past decades, what are the primary reasons for this movement?
Q5) In making ethical judgments, it is usually easier to reach consensus on individual practical cases than it is to agree on broad principles.
A)True
B)False
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Chapter 8: Managerial and Organizational Ethics
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Sample Questions
Q1) The lower one's position in the company, the more pressure one feels to compromise ethical principles.
A)True
B)False
Q2) The concept of servant leadership states that leaders should seek first to serve their followers, and by doing so, they become great leaders. Evaluate this idea. Is it something that would work in the United States?
Q3) Virtue ethics have brought back the idea that _________ education be taught in more schools and corporations.
A) Leadership
B) Management
C) Communication
D) Character
Q4) One of the most powerful ethical tests is the test of
A) one's best self.
B) making something public.
C) ventilation.
D) the purified idea.
Q5) Discuss the board of directors' role in the firm's ethical climate.
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Chapter 9: Business Ethics and Technology
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Sample Questions
Q1) What technology is rapidly advancing?
A) Industrial technology
B) Robotics
C) Information technology and biotechnology
D) Spiritual technology
Q2) Employers' monitoring of workers is not limited to their use of computers and the Internet.
A)True
B)False
Q3) Artificial Intelligence grew out of:
A) information technology
B) biotechnology
C) robotics
D) Big Data
Q4) One of the main issues related to genetically modified foods (GMFs) is
A) whether the federal government will provide research funding.
B) whether the living organism can be patented.
C) labeling requirements.
D) the ability to export and import GMFs.
Q5) Discuss some of the challenges that technology presents to society.
Page 11
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Chapter 10: Ethical Issues in the Global Arena
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Sample Questions
Q1) What questions were raised because of the Bhopal tragedy?
A) To what extent should MNCs maintain identical standards at home and abroad regardless of how lax laws are in the host country?
B) How wise are laws that require plants to be staffed entirely by local employees?
C) Should certain kinds of plants even be located in developing nations?
D) All of these questions.
Q2) The Alien Tort Claims Act has recently been interpreted by the U.S. Supreme Court to apply not only within the U.S., but outside it as well.
A)True
B)False
Q3) All of the following are proposed standards for the SA8000 program, to improve sweatshop conditions, except
A) allowing workers to form unions.
B) prohibiting corporal punishment.
C) providing retirement benefits.
D) limiting work to a maximum of 48 hours per week.
Q4) Make a case for paying premium wages to workers in less-developed countries.
Q5) Describe the differences between internationalization and globalization.
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Chapter 11: Business, Government, and Regulation
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Sample Questions
Q1) Which of the following industries has not been affected by deregulation?
A) financial services.
B) trucking
C) computer software
D) airline
Q2) In many ways the most controversial aspect of the government/business relationship is regulation.
A)True
B)False
Q3) All of the following are reasons that government regulation of business is needed except
A) to ensure that customers and employees are treated fairly.
B) maintain competitive markets.
C) to protect the environment.
D) to ensure that customers and employees are not exposed to unreasonable hazards.
Q4) The new social regulation focuses on business's impacts on other businesses.
A)True
B)False
Q5) Why does government regulate business?
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Chapter 12: Business Influence on Government and Public Policy
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Sample Questions
Q1) Studies of financial performance outcomes on political spending
A) show a strong correlation between contributions to PACs, and corporate financial performance.
B) show a weak correlation between contributions to PACs, and corporate financial performance.
C) are inconclusive.
D) apply only to political outcomes.
Q2) Lobbying efforts that do not represent the genuine concerns of the citizens supposedly involved is called
A) grassroots lobbying.
B) astroturf lobbying.
C) cyberadvocacy.
D) company lobbying.
Q3) To fight for tort reform, the U.S. Chamber of Commerce established:
A) The Institute for Tort Reform.
B) The Institute for Legal Reform.
C) The U.S. Chamber for Tort Reform.
D) The American League for Tort Reform.
Q4) What's the danger of a company not being able to define a public issue.
Q5) Why might PACs lose their effectiveness?
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Chapter 13: Consumer Stakeholders: Information Issues
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Sample Questions
Q1) Plot placement is a response to A) the TiVo effect.
B) consumer reports.
C) age compression.
D) self-regulatory guidelines.
Q2) Some people say that even uninformative advertising is beneficial to consumers and the economy. Evaluate this argument.
Q3) Describe the ways in which the Internet has facilitated the consumer movement.
Q4) The Federal Packaging and Labeling Act of 1967 is administered by the
A) Federal Trade Commission.
B) Consumer Products Council.
C) Interstate Commerce Commission.
D) Federal Drug Administration.
Q5) Ambiguous advertising that leaves it to the viewer to infer the message is the use of A) concealed facts.
B) weasel words.
C) plot placements.
D) exaggerated claims.
Q6) Explain how digital video recorders such as TiVo have contributed to ad creep.
Page 15
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Chapter 14: Consumer Stakeholders: Product and Service Issues
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Sample Questions
Q1) The current legal view of "let the seller beware" is
A) caveat vendor.
B) e pluribis unum.
C) norvus ordo seclorum.
D) caveat emptor.
Q2) Which of the following is not part of the FDA's mission?
A) to help identify and develop new foods and drugs
B) to support better informed decisions about FDA-regulated products
C) to protect the public health
D) to enhance oversight of FDA-regulated products
Q3) Business's response to consumerism over time has been one of A) benign neglect.
B) rapid response.
C) ineffective action, followed by improved responses.
D) extreme care.
Q4) What are the main problems in the Johnson & Johnson talc power case?
Q5) Describe the major contributions that Six Sigma can make to the business/consumer relationship.
Q7) What is the controversy over "pink slime"? Page 16
Q6) What have been the impacts of new leadership in the CPSC?
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Page 17
Chapter 15: Sustainability and the Natural Environment
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Sample Questions
Q1) One approach to resolving air pollution problems, intended to reduce a particular pollutant over an entire industrial region by treating all emission sources as if they were under one bubble is called
A) emissions trading.
B) blanket controls.
C) comprehensive emissions regulation.
D) the clean air provision.
Q2) Biodiversity continues to be lost at a small rate.
A)True
B)False
Q3) Which is not a Global Compact principle targeted toward businesses' responsibilities for the environment?
A) Promote greater environmental responsibility.
B) Close the gap between renewable and traditional energy sources.
C) Encourage environmentally friendly technologies.
D) Support precautionary approach to environmental responsibility.
Q4) The main reason for global warming is overpopulation.
A)True
B)False
Q5) Is the green approach just a fad?
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Chapter 16: Business and Community Stakeholders
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Sample Questions
Q1) The business community now encompasses the entire world.
A)True
B)False
Q2) Discuss how Transparency International fulfills its mission to deter and disclose corporate corruption around the world.
Q3) The company's overriding concern after making the decision to close a plant should be for the firm to move as quickly as possible.
A)True
B)False
Q4) Outplacement services seek to
A) minimize the severance costs to workers.
B) place displace workers in other jobs within the same company.
C) provide employee benefits to displaced workers for at least one year.
D) minimize cost and disruption to the company and maximize benefits to the displaced workers.
Q5) Strategic philanthropy is when businesses give indiscriminately to many causes.
A)True
B)False
Q6) Delineate the arguments for and against the practice of cause-related marketing.
Page 19
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Chapter 17: Employee Stakeholders and Workplace Issues
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Sample Questions
Q1) One recommendation for dismissing employees is to fire employees in common work areas.
A)True
B)False
Q2) Things to consider before whistle-blowing include all of these except
A) Have you identified sources of support?
B) Does the disclosure advance public interest?
C) Will you remain anonymous at all costs?
D) Have you thought about the outcomes?
Q3) Today's employees are looking for
A) competitive pay and benefits.
B) opportunities for professional growth.
C) meaningful work.
D) all of these.
Q4) What advice would you give to management faced with a potential whistle-blowing situation? What should management do, and not do?
Q5) The trend toward using Alternative Dispute Resolution (ADR) is growing.
A)True
B)False
Q6) What are the impacts of a global economic recession on employee loyalty?
Page 20
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Chapter 18: Employee Stakeholders: Privacy, Safety, and Health
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Sample Questions
Q1) The textbook lists several benefits of employee assistance programs (EAPs). What are some potential drawbacks of EAPs?
Q2) One main reason that business has turned its attention to employee health issues is A) concern for their well-being.
B) the public becoming more health conscious.
C) reduced productivity.
D) the threat of contagious diseases.
Q3) Monitoring of employees in the workplace
A) has become the norm in businesses today.
B) is driven by concerns over workplace violence.
C) requires the express consent of employees.
D) is done primarily through video cameras.
Q4) The U.S. Office of Personnel Management endorses integrity tests as valid. A)True B)False
Q5) OSHA's budget has generally been tight, but adequate to fully carry out its mission. A)True B)False
21
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Chapter 19: Employment Discrimination and Workplace
Diversity
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Sample Questions
Q1) Research the reasons men and women provide as to why the glass ceiling exists. Recount those reasons. Which seems more likely to you?
Q2) One challenge for business will be to assimilate an increasingly diverse workforce. A)True
B)False
Q3) Religious discrimination complaints
A) do not exist.
B) are declining.
C) are consistent.
D) more than doubled.
Q4) Disability is defined as an individual who may have all of the followingexcept A) physical or mental impairments.
B) minor impairment of life activities.
C) major impairments of life activities.
D) a perceived disability.
Q5) Either a man or a woman can be the victim of sexual harassment. A)True B)False
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Q6) Describe the main differences between disparate treatment and disparate impact.