Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
18 Cards in this Set
- Front
- Back
|
stakeholder
|
all individuals and groups who are affected by, or can affect the company
|
|
|
multifiduciary view of stakeholders
|
managers have the same types of duties to stakeholders and owners
|
|
|
Core stakeholders
|
a specific subset of strategic stakeholders that are essential for the survival of the organization
|
|
|
The most basic level of stakeholder management capability, which entails identifying stakeholders groups and their respective stakes, is known as
|
the rational level
|
|
|
environmental stakeholders
|
are all others in the organization's environment that are not core or strategic
|
|
|
power
|
the ability or capacity to produce an effect
|
|
|
primary social stakeholders
|
have a direct stake in the organization and its success and therefore are most influential
|
|
|
principles of stakeholder management
|
intended to provide managers with guiding precepts regarding how stakeholders should be treated
|
|
|
stake
|
an interest in or share in a an undertaking
|
|
|
what are some primary social stakeholders
|
shareholders and investors
employees and managers customers local communities suppliers and other business partners |
|
|
what are some secondary social stakeholders?
|
government and regulators
civic institutions social pressure groups media and academic commentators trade bodies competitors |
|
|
secondary stakeholders
|
have a public or special interest stake in the organization
|
|
|
primary nonsocial stakeholders
|
natural environment
future generations nonhuman species |
|
|
secondary nonsocial stakeholders
|
environmental interest groups
animal welfare organizations |
|
|
legitimacy
|
refers to the perceived validity or appropriateness of the stakeholder's claim to a stake
|
|
|
urgency
|
refers to the degree to which the stakeholder's claim demands immediate attention
|
|
|
the three values of the stakeholders model
|
descriptive
instrumental normative |
|
|
key questions in stakeholder management
|
who are our stakeholders
what are our stakeholders stakes what opportunities and challenges do our stakeholders present to the firm what economic, legal, ethical, and philanthropic responsibilities does the firm have to its stakeholders what strategies or actions should the firm take to best address stakeholder challenges and opportunites |
