Stakeholder Management Exam Preparation Guide
Course Introduction
Stakeholder Management explores the identification, analysis, and strategic engagement of individuals and groups that can impact or are impacted by an organizations activities. The course covers essential theories and models for stakeholder mapping, assessing interests and influence, and building effective communication channels. Students learn how to develop and implement stakeholder management plans, resolve conflicts, and foster collaborative relationships in complex environments. Through case studies and practical exercises, the course emphasizes ethical considerations, negotiation strategies, and best practices for managing stakeholder expectations in public, private, and nonprofit sectors.
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Chapter 1: The Business and Society Relationship
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Q1) The Iron Law of Responsibility states that people who use power wisely will be rewarded with more power.
A)True
B)False
Answer: False
Q2) Stakeholders include all of the following groups except A) owners.
B) employees.
C) customers.
D) all of these are stakeholder groups.
Answer: D
Q3) Ethics refers to issues of right and wrong, fairness, and justice.
A)True
B)False
Answer: True
Q4) The social contract is the set of rights and duties imposed on citizens by their government.
A)True
B)False
Answer: False
Page 3
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Chapter 2: Corporate Social Responsibility, Citizenship, and Sustainability
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Q1) Explain why Business for Social Responsibility (BSR) was formed.
Answer: BSR was formed to fill an urgent need for a national business alliance that fosters socially responsible corporate policies. Identification of this need was aided by the close scrutiny that business has been receiving for the past three decades (as outlined in Chapter 1).
Q2) Research has indicated that improvements in corporate social performance are associated with improved financial results.
A)True
B)False
Answer: True
Q3) The part of corporate social responsibility that focuses on business's voluntary activities which are not normally expected of a firm is
A) economic.
B) legal.
C) ethical.
D) philanthropic.
Answer: D
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Chapter 3: The Stakeholder Approach to Business, Society, and Ethics
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Q1) Which of the following is not a strategic step toward successful stakeholder management?
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
Answer: B
Q2) A nonhuman species (such as the spotted owl) that holds a direct stake in a firm is called a
A) primary social stakeholder.
B) secondary social stakeholder.
C) primary nonsocial stakeholder.
D) secondary nonsocial stakeholder.
Answer: C
Q3) Once stakeholders have been identified, the firm can safely assume that they will remain the same for several years.
A)True
B)False
Answer: False
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Chapter 4: Corporate Governance: Foundational Issues
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Q1) What is the difference between an owner and an investor?
Q2) Business, by virtue of its place in society, has an inherent right to exist.
A)True
B)False
Q3) Most shareholder resolutions concern some aspect of executive compensation.
A)True
B)False
Q4) The board committee that is responsible for responding to social issues is the
A) ethics committee.
B) public policy committee.
C) community interface committee.
D) rapid response committee.
Q5) The group that is elected by shareholders to govern and oversee management is the
A) investment council.
B) board of directors.
C) board of trustees.
D) governing council.
Q6) What is the primary problem inherent in management control of the firm?
Q7) Describe how the separation of ownership and control came about.
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Chapter 5: Strategic Management and Corporate Public Affairs
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Q1) Three broad ways corporations intersect with society include each of the following except:
A) generic social issues
B) value chain social impacts
C) strategic social integration
D) social dimensions of competitive context
Q2) Which of the steps in the strategic management process informs all the rest?
A) goal formulation
B) strategy formulation
C) strategic control
D) environmental analysis
Q3) Explain the relationship of ethics to strategic management.
Q4) Public affairs evolved from social activism.
A)True
B)False
Q5) The concept of enterprise-level strategy is the idea that best links
A) ethics to performance.
B) strategy to performance.
C) public policy to performance.
D) ethics to strategy.
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Chapter 6: Risk, Issue, and Crisis Management
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Q1) Risk, issue, and crisis management focus on A) prevention of harm to the firm.
B) avoidance of crises.
C) increasing the organization's ethical responsiveness to stakeholders.
D) understanding of stakeholders' interests.
Q2) One of the benefits of the portfolio approach is that it helps
A) identify issues.
B) prioritize issues.
C) resolve issues.
D) spread authority among managers to deal with issues.
Q3) Which of the following is not one of Molitor's leading forces?
A) leading events
B) leading literature
C) leading economic indicators
D) leading political jurisdictions
Q4) Compare and evaluate the four crisis management stages and Business Week's five-step model.
Q5) In a crisis, the first communication should be with internal stakeholders.
A)True
B)False
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Chapter 7: Business Ethics Essentials
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Q1) Managers who simply fail to consider moral questions when making business decisions use the
A) immoral management model.
B) moral management model.
C) intentional amoral management model.
D) unintentional amoral management model.
Q2) Describe and evaluate the reasons that many feminists criticize Lawrence Kohlberg's work on moral development.
Q3) Compare and contrast ethics and the law. How are they similar? How are they different? Which is the higher standard? Why aren't they the equivalent of one another?
Q4) Business ethics is
A) a special branch of ethics unto itself.
B) concerned with moral issues that occur only in business.
C) concerned with right and wrong behavior within a business context.
D) a subset of business practice.
Q5) The ethics scandal that has come to define modern business ethics is the Enron debacle.
A)True
B)False
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Chapter 8: Managerial and Organizational Ethics
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Q1) The most important factor in ethical leadership is
A) what leaders talk about.
B) the code of ethics.
C) what leaders do.
D) discipline of ethics violators.
Q2) Moral rights
A) depend on a legal system for their validity.
B) are derived from religious teachings.
C) are important, justifiable claims.
D) are earned as people demonstrate their moral responsibilities.
Q3) Which of the following is NOT a way of perceiving ethical codes?
A) as a magnifying glass.
B) as a compass.
C) as a shield.
D) as a club.
Q4) The top factor in managers' unethical behaviors is consistently cited as A) greed.
B) financial need.
C) peer pressure.
D) behaviors of superiors.
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Chapter 9: Business Ethics and Technology
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Q1) The most significant obstacle to the use of biotechnology is
A) fear that the technology will not work.
B) the potential for public backlash.
C) lack of funds to support research.
D) government requirements for prolonged tests on human subjects.
Q2) Human cloning is illegal in the United States.
A)True
B)False
Q3) The number one ethical issue in doing business over the Internet is
A) intellectual property.
B) pornography.
C) possible invasion of privacy.
D) security of financial information.
Q4) Which of the following is not a valid definition of technology?
A) the totality of the means employed to provide objects necessary for human sustenance and comfort
B) a scientific method used in achieving a practical purpose
C) all the ways people use their inventions and discoveries to satisfy their needs and desires
D) the science of replacing human effort with mechanical power
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Chapter 10: Ethical Issues in the Global Arena
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Q1) Evaluate the proposed requirement that MNCs pay workers at least the legal minimum wage or prevailing industry wage in their overseas factories.
Q2) An attempt to assess the underlying moral justifications for corporate actions and the consequent results of those actions are contained in
A) social audits.
B) ethical impact statements.
C) human rights statements.
D) environmental impact statements.
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) Peter Drucker has labeled the expanded global marketplace the A) moral free space.
B) hypercompetitive economy.
C) transnational economy.
D) multinational competitive sphere.
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Chapter 11: Business, Government, and Regulation
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Q1) Why is it incumbent upon government to promote social goals such as safe working environments, clean air, and safe products?
Q2) Regulating the way business operates is only one of several roles the government has in its relationship with business.
A)True
B)False
Q3) Industrial policy is:
A) by default.
B) a powerful nonregulating approach by government to influence business.
C) non debatable.
D) consistent in each government administration.
Q4) Social regulation's focus on people encompasses their roles as all of the following except A) employees.
B) consumers.
C) citizens.
D) business owners.
Q5) Articulate a brief history of government's role in business.
Q6) Who determines the public interest?
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Chapter 12: Business Influence on Government and Public Policy
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Q1) Lobbyists often provide all of the following services, except: A) create slick advertisements.
B) conduct indirect-mail campaigns.
C) provide access to lawmakers.
D) draft legislation.
Q2) Lobbyists often show legislators the benefits and detriments of complex legislation. Discuss the wisdom of allowing lobbyists to perform this function.
Q3) Microsoft was able to effectively defend against an antitrust suit by the United States, but lost a similar case in the European Union. The European Commission charged that Microsoft exploited its monopoly position in several foreign countries. Investigate the resolution of this case.
Also, how did Microsoft take advantage of its win in the U.S.?
Q4) Why might PACs lose their effectiveness?
Q5) The channels through which corporations can make political contributions are.
A) limited.
B) many and varied.
C) difficult to navigate.
D) primarily tax loopholes.
Q6) What can be done to limit the influence of money on the political process?
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Chapter 13: Consumer Stakeholders: Information Issues
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Q1) Tobacco companies no longer advertise tobacco products in a way to appeal to children.
A)True
B)False
Q2) The textbook claims that warranties have become more important as e-commerce has become more popular. Why might this be true?
Q3) All of the following are significant issues in cigarette advertising except
A) promotion of a dangerous product.
B) its aim at young audiences.
C) its aim at less-educated consumer markets.
D) its aim at less-developed countries.
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) A company's desire to portray its product in the most flattering light can lead to misinfomration.
A)True
B)False
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Chapter 14: Consumer Stakeholders: Product and Service Issues
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Q1) There are three ethical theories based on the concept of duty that speak to the ethical dimensions of quality. Describe and evaluate each of these theories.
Q2) The legal view of "let the buyer beware" that prevailed throughout most of history was
A) caveat vendor.
B) e pluribus unum.
C) norvus ordo seclorum
D) caveat emptor.
Q3) The initial part of the total quality management process is to A) define quality in terms of customer expectations and requirements.
B) develop standards and specifications for quality.
C) design efficient production processes.
D) develop customer satisfaction surveys.
Q4) Which of the following is not one of the top consumer product categories most frequently associated with injuries requiring hospital treatment?
A) sports and recreational activities
B) home maintenance and construction
C) toys and children's products
D) automobiles
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Chapter 15: Sustainability and the Natural Environment
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Q1) Based on the knowledge you gained about emissions trading, decide if this is an acceptable solution to our air pollution problem.
Q2) CERES key drivers include all of the following except
A) competition for resources
B) economic globalization
C) concentrate on industrialized countries
D) connectivity and communications
Q3) Which of the following is not a problem central to the toxic substances issue?
A) not being aware of the effects
B) the need for daily reports to the EPA
C) population increase
D) toxic substances can be associated with industrial accidents
Q4) The purpose of Superfund legislation was to
A) identify toxic waste sites.
B) eliminate dumping of toxic wastes.
C) clean up hazardous waste dumps and spills.
D) prevent land degradation.
Q5) Explain the concept of the "tragedy of the commons."
Q6) Describe some of the changes that have occurred as a result of global warming.
Q7) How is the Flint water crisis an example of the law versus ethics?
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Chapter 16: Business and Community Stakeholders
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Q1) Health and human services are critical to the well-being of any community.
A)True
B)False
Q2) The primary reason given for support of higher education programs is
A) the value of a liberal arts education.
B) civic duty.
C) to increase the pool of trained personnel.
D) to have an educated voter pool.
Q3) Community involvement is most commonly manifested through
A) donations of money and like-kind gifts.
B) donating the time and talents of its employees.
C) sponsoring one of its employees for government office.
D) beautification projects at the company's place of business.
Q4) According to Braithwaite, advice for communicating with employees who are being lad off include all the following except
A) Be complete.
B) Be consistent.
C) Inform affected employees first.
D) Inform competitors.
Q5) Describe how a company can provide support to "survivors" of a layoff.
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Chapter 17: Employee Stakeholders and Workplace Issues
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Q1) Enterprise rights are derived from
A) employer promises.
B) labor demands.
C) negotiated contracts.
D) the labor market.
Q2) Which of the following is not an action that managers should take when terminating employees?
A) Fire employees in a private space
B) Email the employee the termination
C) Preserve the employee's dignity
D) Use transparent criteria for layoffs
Q3) Belief in the "good cause norm" is a primary principle underlying the doctrine of employment-at-will.
A)True
B)False
Q4) The concept of due process is a basis for the employment-at-will doctrine.
A)True
B)False
Q5) Describe the range of duties covered by due process.
Q6) What are the impacts of a global economic recession on employee loyalty?
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Chapter 18: Employee Stakeholders: Privacy, Safety, and Health
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Q1) Which of the following is not one of the major workplace privacy issues?
A) integrity testing
B) drug testing
C) monitoring employees
D) hourly pay and benefits
Q2) Surveillance has become more simple and less expensive in the workplace is a result of
A) higher rates of employee theft.
B) higher rates of workplace violence.
C) concerns about sexual harassment.
D) technological developments.
Q3) The state laws that address drug testing usually ban them altogether.
A)True
B)False
Q4) Experts on workplace violence recommend that companies respond to this hazard by
A) installing metal detection devices in their places of business.
B) Establishing a zero-tolerance policy toward workplace violence.
C) developing a strong relationship with the local law enforcement officials.
D) instituting stringent pre-hiring filters.
Q5) Describe some of the best family-friendly benefits that are provided to workers. Page 20
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Chapter 19: Employment Discrimination and Workplace Diversity
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Q1) The entity that is authorized to file suits in federal district court against private sector employers is the
A) Interstate Commerce Commission.
B) Federal Trade Commission.
C) Equal Employment Opportunity Commission.
D) Federal Bureau of Investigation.
Q2) Shifts in managing diversity include
A) discrimination-and-fairness.
B) access-and-legislation.
C) integration-and-learning.
D) All of these.
Q3) As businesses have moved their sales online, advocates for people with disabilities have filed suit to
A) provide service in poor areas.
B) prevent advertising online.
C) make websites accessible to the disabled.
D) make housing available to the disabled.
Q4) "Operating against the continuing trends emphasizing civil rights is a growing sentiment against affirmative action." Explain this statement.
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