Strategic Management and Stakeholder Relations
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Course Introduction
This course introduces students to the principles and practices of strategic management with a special focus on managing stakeholder relationships in contemporary organizations. Students will explore frameworks for analyzing the internal and external environments, formulating and implementing business strategies, and achieving organizational objectives. Emphasis will be placed on the identification and engagement of diverse stakeholders, understanding their expectations and influence, and integrating their interests into the strategic decision-making process. Through case studies and practical applications, students will develop skills in balancing competing demands, fostering collaboration, and building sustainable value for both the organization and its stakeholders.
Recommended Textbook
Business and Society Stakeholders Ethics Public Policy 13th Edition by Anne T. Lawrence
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Page 2
Chapter 1: The Corporation and Its Stakeholders
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Q1) Stakeholders stand out to managers when they exhibit:
A) Integrity, power, and legitimacy.
B) Power, legitimacy, and urgency.
C) Integrity, loyalty, and power.
D) Legitimacy, loyalty, and urgency.
Answer: B
Q2) A successful business must meet its:
A) Economic objectives.
B) Social objectives.
C) Economic and social objectives.
D) Top executives' expectations.
Answer: C
Q3) The four types of stakeholders' power recognized by most experts are:
A) Voting, economic, political, and legal power.
B) Social, legal, environmental, and political power.
C) Social, regulatory, voting, and media power.
D) Economic, media, legal, and political power.
Answer: A
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3
Chapter 2: Managing Public Issues and Stakeholder Relationships
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Q1) When working well, the issue management process:
A) Is static and never pulls in additional information that would disturb the balance.
B) Generates two specific options for each issue.
C) Minimizes dialogue with the stakeholders and focuses on short-term survival.
D) Continuously cycles back to the beginning and repeats.
Answer: D
Q2) Companies are learning that it is important to take a strategic approach to the management of public issues, both domestically and globally.
A)True
B)False
Answer: True
Q3) Overtime, the nature of business's relationship with its stakeholders often:
A) Remains static.
B) Evolves through a series of stages.
C) Becomes more hostile.
D) None of the above.
Answer: B
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Page 4
Chapter 3: Corporate Social Responsibility
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Q1) The costs of corporate social responsibility may ultimately be passed on to the:
A) Employees through fewer health benefits.
B) Consumer through high prices.
C) Investor through stock splits.
D) Taxpayers by the government.
Answer: B
Q2) Only G-8 nations are affected by corporate operations, and as a result, social responsibility has not yet become a worldwide expectation.
A)True
B)False
Answer: False
Q3) Reason(s) for adopting an enlightened self-interest approach is (are):
A) Reasonable short-run costs are incurred, but socially responsible activities are promoted.
B) The public's attitude toward the company is positive in the long run.
C) The stockholders' pressures for short-run profits are satisfied.
D) All of the above.
Answer: D
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5
Chapter 4: Ethics and Ethical Reasoning
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Q1) Scholars found that spirituality:
A) Negatively affects employee and organizational performance.
B) Positively affects employee and organizational performance.
C) Has no affect on employee and organizational performance.
D) Only affects the employee performance of not for profit organizations.
Q2) For managers who reason at stages 2 and 3, their personal rewards, recognition from others, or compliance with the company's rules become their main ethical compass.
A)True
B)False
Q3) Utilitarian reasoning primarily considers:
A) The end results of an action.
B) The rights of the unprotected.
C) The distribution of benefits.
D) Both A and C, but not
Q4) A just or fair ethical decision occurs when:
A) The rights of all affected are considered.
B) The greatest good for those with power is achieved.
C) Benefits and burdens are distributed equally.
D) All of the above.
6
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Chapter 5: Organizational Ethics and the Law
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Q1) Business managers need a set of ethical guidelines to help them:
A) Understand the changing customs throughout the world.
B) Justify the resolution which best helps them.
C) Identify and analyze the nature of the ethical problem.
D) None of the above.
Q2) Define white-collar crime. Provide three examples of such criminal acts.
Q3) The core components upon which a company's ethical performance depends include:
A) The values and virtues of the managers.
B) The personal character of the managers and employees.
C) The traditions, attitudes, and business practices built into a company's culture.
D) All of the above.
Q4) Which of the following is not an example of a white-collar crime?
A) Embezzlement.
B) Check fraud.
C) Theft.
D) Money laundering.
Q5) All ethics issues in business are the same.
A)True
B)False
Page 7
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Chapter 6: The Challenges of Globalization
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Q1) Single-party rule by communist parties still remains in:
A) Lithuania.
B) Vietnam.
C) Thailand.
D) All of the above.
Q2) Under the World Trade Organization's most favored nation rule, member countries may not discriminate against foreign products for any reason.
A)True
B)False
Q3) What is a transnational company? How do these companies operate in the global marketplace?
Q4) Critics of globalization support the spread of American ideals and culture throughout the rest of the world.
A)True
B)False
Q5) The World Bank makes currency exchange easier for member countries so that they can participate in global trade.
A)True
B)False
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Chapter 7: Global Corporate Citizenship
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Q1) The initiative into which GE has poured vast resources into developing energy-efficient and environmentally friendly products and services is called:
A) Poverty for Profits.
B) Ecomagination.
C) The upside down pyramid.
D) None of the above.
Q2) Companies whose citizenship profile best matches public expectations are least likely to benefit from strategic investments in corporate citizenship.
A)True
B)False
Q3) Some companies have created a department of corporate citizenship to:
A) Adopt the United Nations' Global Compact Principles.
B) Decentralize under common leadership wide-ranging corporate citizenship functions.
C) Centralize under common leadership wide-ranging corporate citizenship functions.
D) Narrow the job of the public relations office.
Q4) Define balanced score card. What are the four quadrants of the balanced score card approach?
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9
Chapter 8: Business-Government Relations
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Q1) Economic regulations aim at modifying the normal operations of the free market and the forces of supply and demand.
A)True
B)False
Q2) Managers' understanding of government regulations is:
A) Both a domestic and international issue.
B) Primarily a domestic issue.
C) Primarily an international issue.
D) An international issue only for large firms.
Q3) Monetary policies refer to policies that affect the supply, demand and value of the nation's currency.
A)True
B)False
Q4) Economic policies include:
A) Fiscal and monetary policies.
B) Monetary and social assistance policies.
C) Fiscal and social assistance policies.
D) Policies initiated by the Federal Reserve System.
Q5) Compare and contrast economic policies with social assistance policies.
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Chapter 9: Influencing the Political Environment
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Q1) Trade associations are:
A) Coalitions of companies in the same or related industries.
B) Prohibited by U.S. law.
C) Made up of unionized workers.
D) Found in developing countries.
Q2) Expert witness testimony is often provided:
A) Through company newsletters.
B) On the steps of the White House.
C) In Congressional hearings.
D) In The Wall Street Journal.
Q3) The National Energy Plan signed into law by President Bush:
A) Extended daylight savings time 11 weeks.
B) Shortened daylight savings time 5 weeks.
C) Extended daylight savings time 4 weeks.
D) Was opposed by the barbecue industry.
Q4) Advocacy ads are also called:
A) Issue advertisements.
B) Research and development plans.
C) Constituent advertisements.
D) Price control advertisements.
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Chapter 10: Ecology and Sustainable Development in Global Business
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Q1) Human society used 60 times as much energy in the late 20<sup>th</sup> century as it did in 1860, when industrialization was in its early stages.
A)True
B)False
Q2) Discuss some of the voluntary initiatives undertaken by businesses around the world in order to incorporate sustainable development into their every day business practices.
Q3) Identify and explain three major threats to the earth's ecosystem as described in the textbook. How will these threats accelerate the ecological crisis?
Q4) The commitments of the Convention on Biological Diversity include:
A) Developing national conservation strategies.
B) Eliminating CFC production.
C) Population control education.
D) Massive irrigation projects in developing countries.
Q5) Sustainable development is an appealing idea but also a very controversial one.
A)True
B)False
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Chapter 11: Managing Environmental Issues
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Q1) Which of the following is true about the Toxic Substances Control Act?
A) It required reductions in urban smog, acid rain, and greenhouse gas emissions.
B) It established a national policy to regulate, restrict, and, if necessary, ban toxic chemicals.
C) It promoted nontoxic chemicals and fuels for business use.
D) It authorized funds for treatment plants and toxic waste cleanup.
Q2) Companies that cultivate a vision of sustainability must adopt sophisticated strategic planning techniques to:
A) Increase the competitive advantage of other international organizations.
B) Detect the limited number of internal factors that influence the employee performance reviews.
C) Allow their top manager to assess the full range of the firm's effects on the environment.
D) Increase the number of government regulations that are passed to reduce pollution.
Q3) Discuss the following statement: "Effective environmental management makes firms more competitive."
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13
Chapter 12: Technology, Organizations, and Society
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Q1) Recently, some evidence suggested that the digital divide in the United States is widening.
A)True
B)False
Q2) Future shock means change will happen too fast and shock itself to death.
A)True
B)False
Q3) Anti-spam legislation was passed by which country making it a crime to send unsolicited e-mail messages to people's private e-mail addresses or cell phones?
A) United States.
B) Japan.
C) United Kingdom.
D) Germany.
Q4) Descriptive information embedded within Web pages, documents, and files is called:
A) Metadata.
B) Gigabytes.
C) Search engines.
D) Information.
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Page 14
Chapter 13: Managing Technology and Innovation
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Q1) Recent technological advances have decreased the number of way that privacy violations may occur.
A)True
B)False
Q2) Advocacy groups such as the Electronic Privacy Information Center criticized the P3P concept as too difficult for users to understand or use properly.
A)True
B)False
Q3) The Federal Trade Commission advocates which of the following for business security?
A) Take stock.
B) Scale down.
C) Pitch it.
D) All of the above.
Q4) Who should be entrusted with guarding against minors accessing adult-oriented Web sites?
Q5) Discuss the steps businesses and governments have taken to better protect stakeholder privacy.
Q6) How is the corporate Chief Information Officer a "coach" for the organization?
Page 15
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Chapter 14: Stockholder Rights and Corporate Governance
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Q1) In your opinion, how is the relationship between the modern corporation and shareholders changing? Explain and justify your argument.
Q2) Which of the following is not an argument for high executive compensation?
A) High salaries provide an incentive for innovation and risk-taking.
B) High salaries are necessary to attract and retain top talent.
C) Inflated executive pay helps U.S. firms compete with foreign rivals.
D) Well-paid managers are being compensated for outstanding performance.
Q3) Which of the following is not an example of fulfilling social objectives through stock ownership?
A) Selling stock of companies that did business in South Africa when it had a policy of racial discrimination.
B) Divesting from Chinese companies that made products by forced labor.
C) Selling stock of companies with a below-market rate of return.
D) Not investing in Burmese companies that had been accused of human rights abuses.
Q4) Describe a current trend in corporate governance, providing a real example.
Q5) Do you think U.S. executives are compensated too highly? Why or why not?
Q6) What is insider trading? Explain how the courts have defined this practice.
Q7) What are the key features of effective boards of directors?
Page 16
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Chapter 15: Consumer Protection
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Q1) Which organization brings together 300 nonprofit groups to espouse the consumer viewpoint?
A) Consumers Union.
B) Consumer Federation of America.
C) National Consumer League.
D) Public Citizen.
Q2) Which of the following is (are) core rights of consumers?
A) The right to safety.
B) The right to be represented.
C) The right to purchase.
D) All of the above.
Q3) The main responsibility of the National Highway Traffic Safety Administration is to:
A) Set a uniform national speed limit.
B) Set airline safety standards.
C) Set motor vehicle safety standards.
D) Safeguard consumers from altered odometers.
Q4) In your opinion, do U.S. product liability laws need to be changed? If so, how? If not, why not? Investigate proposed changes in product liability laws over the last several years and evaluate them.
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Chapter 16: Employees and the Corporation
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Q1) The Occupational Safety and Health Act gives workers the right to a job:
A) With equal wages for similar kinds of work.
B) With wages that enable an employee to enjoy a decent standard of living.
C) That is free from recognized hazards that are likely to cause death or serious injury.
D) That does not require them to lift, bend, or move items at any time on the job.
Q2) Which of the following is true about random drug testing of employees?
A) It screens randomly-selected employees at various times through the year.
B) It randomly tests selected applicants before hiring, as a part of a physical examination.
C) It tests an employee believed to be impaired by drugs and unfit for work.
D) It regularly tests employees from randomly-selected job categories or job levels.
Q3) Employees in the United States have the right to organize and bargain collectively.
A)True
B)False
Q4) Provide an example where employee whistle-blowing is justified and an example where it is not. Provide support for each example.
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Page 18
Chapter 17: Managing a Diverse Workforce
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Q1) Which of the following is an argument against affirmative action?
A) It costs American business too much money.
B) There are no mechanisms in place to verify that it is actually taking place.
C) It is inconsistent with the principles of fairness and equality.
D) It violates individuals' basic human rights.
Q2) Which of the following is not true about women business owners?
A) They own or control almost two-fifths of all U.S. companies.
B) They are forming businesses at roughly the same rate that men are.
C) Female entrepreneurs are just as successful as male entrepreneurs.
D) Collectively they employ more people in U.S. than the Fortune 500 companies do worldwide.
Q3) Racial harassment is illegal under:
A) Title VII of the Civil Rights Act.
B) The third Amendment of the Constitution.
C) The Equal Pay Act.
D) Family Medical Leave Act.
Q4) By 2009, around 25 percent of businesses were owned or controlled by women, according to the Center for Women's Business Research.
A)True
B)False
Page 19
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Chapter 18: The Community and the Corporation
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Q1) The term civic engagement describes:
A) The active involvement of businesses and individuals in improving communities.
B) A competitive, free market environment.
C) Strong governmental regulation to control businesses at the municipal level.
D) A close and collaborative business-government relationship.
Q2) Which company is known for encouraging its employees to volunteer their time and expertise to the community?
A) Exxon Corp.
B) Whole Foods Markets.
C) Bank of America.
D) Both B and C, but not
Q3) The community relies heavily on business, but business is not mutually dependent on the community.
A)True
B)False
Q4) Discuss the three forms of gifts typically made by corporations and their foundations. Which form of gift do you think is most valuable, and why?
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Chapter 19: Managing Public Relations
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Q1) In 2009, the second most common media outlet for business was:
A) Television.
B) Radio.
C) Newspaper.
D) Online advertising.
Q2) The Public Relations Society of America is the government agency charged with regulating advertisements in the United States.
A)True
B)False
Q3) The Securities and Exchange Commission is charged with regulating interstate and international communications by radio, television, wire, satellite, and cable.
A)True
B)False
Q4) A rule of media communication is to:
A) Be honest.
B) Be current.
C) Be accessible.
D) All of the above.
Q5) Define the general public. How do firms and the public affect one another?
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