Question 1

In terms of categorizing stakeholders,primary interaction occurs with all of the following,except:

Accepted Answer

The primary interaction occurs with owners, suppliers, creditors, and unions as they have a direct stake in the organization's success or failure. Media, on the other hand, may have an indirect impact on the organization but not a direct stake in its operations.

Question 2

A manager is a unique stakeholder because:

Accepted Answer

C

Question 3

Janet is on the board of directors for SPT Corporation.Which of the following assumptions about Janet's involvement with SPT Corporation is incorrect ?

Accepted Answer

The statement "Janet is a competitor of SPT Corporation" is incorrect. The other assumptions are possible true.

Question 4

Frank thinks that it is inappropriate for his company,BSD Corporation,to spend valuable company time and resources on meeting with stakeholder groups.He,and others who oppose stakeholder involvement,identify the following rationale(s):

Accepted Answer

Managing so many stakeholders diverts management's attention away from the business.

Question 5

Cathy drinks a lot of coffee to help her stay awake during midterms.However will only purchase coffee that is produced under conditions that guarantee good working conditions for the labourers and respect for human rights and environmental protection.Cathy is a consumer of:

Accepted Answer

Fairtrade products have standards that ensure good working conditions for labourers, respect for human rights, and environmental protection. Cathy's purchasing preferences align with these standards, making Fairtrade products the best choice for her caffeine fix.

Question 6

There is opposition to the stakeholder concept for all of the following reasons,except:

Accepted Answer

The opposition to the stakeholder concept is due to different expectations, contrary objectives, difficulty in categorizing stakeholders, and dilution of top management focus. However, the practicality of shared governance is not a reason for opposition to the stakeholder concept.

Question 7

Normative stakeholders include all of the following,except:

Accepted Answer

Normative stakeholders are those who have a legitimate, direct relationship with the organization, such as employees, consumers, suppliers, and financiers. Competitors, while important in the business environment, do not have a direct normative stake in the organization's operations.

Question 8

All of the following are main issues in the banking industry,except:

Accepted Answer

Issues management is not a main issue in the banking industry; it's a strategic management process for identifying and responding to issues. The other options (government regulation, service charges, credit card charges, and executive compensation) are all significant concerns within the banking sector.

Question 9

Government in Canada is very influential over corporate decision-making.ABC Corporation is negotiating with aboriginal groups regarding forestry practices in their region and the government is facilitating the process.Influence and power,in this case,is not held by any one institution and is dispersed.This example reflects the operation of a_________society.

Accepted Answer

The example given reflects the idea of pluralism, where power and influence are dispersed among various institutions and groups, including the government, corporations, and indigenous communities. It is not a collective society because decision-making is not centralized in one group or organization. It is not exclusively stakeholder or business-oriented because multiple groups are involved. Multiculturalism does not accurately capture the dynamics of power and influence in this scenario.

Question 10

Examples of primary stakeholders include all of the following,except:

Accepted Answer

The answer of Examples of primary stakeholders include all of...

Question 11

The government of Canada recently sold off its remaining shares in Petro Canada.The government,in performing this transaction,is acting as which type of stakeholder?

Accepted Answer

The government of Canada, being the owner of Petro Canada, is selling off its remaining shares, which means it is acting as a stakeholder in the capacity of an owner.

Question 12

Advocates of the stakeholder concept:

Accepted Answer

All of the statements are true in advocating the stakeholder concept. Advocates believe that recognizing all stakeholders and promoting their loyalty is crucial to making money, and that shareholders are just one of many important stakeholders. They also believe that responding to stakeholder interests is simply good business practice.

Question 13

Which of the following statements regarding employees as stakeholders is incorrect ?

Accepted Answer

Not all primary stakeholders are employees. Other primary stakeholders include investors, customers, suppliers, and communities.

Question 14

Derivative stakeholders are all of the following,except:

Accepted Answer

Derivative stakeholders are typically not financers; primary stakeholders, such as shareholders and investors, are the ones who finance the organization and have a direct stake in its operations and success.

Question 15

In determining where to locate a factory,BCS Corporation develops a list of stakeholders.Francois encourages the management to locate in a community with high unemployment because it will help a community become more economically stable. mark states that it is important to consider whether the company will be able to arrange for raw materials to be shipped to the factory for production.Sarah notes that by relocating the firm should consider the environmental group,STOP,that used to picket the company,even though it hasn't been heard from for years.Which stakeholders should the company not necessarily consider in their decision?

Accepted Answer

The answer of In determining where to locate a factory,BCS...

Question 16

Secondary interactions include all of the following,except:

Accepted Answer

Investors are considered primary stakeholders, not secondary interactions, as they have a direct financial interest in the business.

Question 17

Following a media report highlighting a lack of hygienic meat handling practices by its suppliers,Burgers R Us realized they should have been engaged in ,a process to respond to the economic,social,and environmental problems that they might face in the future.

Accepted Answer

Issues management involves identifying potential problems and addressing them before they become major issues, such as Burgers R Us realizing they should have been prepared for the negative media coverage of their suppliers' meat handling practices. Stakeholder management involves identifying and working with stakeholders, environmental management involves managing the impact of the company on the environment, strategy involves planning and implementation of long-term goals, and media control involves managing the company's reputation in the media.

Question 18

Samuel has been asked by the manager of his department to compile a list of all the stakeholders relevant to the industry so that they can ensure that in the future all stakeholder interests are appropriately considered.Samuel spends the entire weekend on the task,but it looks like he will never finish the task.Which of the following is not a reason why Samuel is having difficulty?

Accepted Answer

While it is possible that Samuel may not have the best position to do the task, this is not necessarily the reason why he is having difficulty. The other options are all valid reasons why compiling a comprehensive list of stakeholders can be challenging.

Question 19

A news report came out in Saskatchewan that the beef supplier for "Burgers R Us" was not implementing hygienic practices.All of the following stakeholders are likely to have discussed a change of approach to purchasing meat with "Burgers R Us",except:

Accepted Answer

The current supplier is not likely to discuss a change of approach to purchasing meat with "Burgers R Us" because they are the ones who were reported to not implement hygienic practices. Other stakeholders like the customers and the general public, the government, the owners, lenders and creditors, and the media are likely to discuss a change of approach to purchasing meat with "Burgers R Us" to ensure that hygienic practices are implemented.

Question 20

ABC Corporation is a forestry company that is attempting to develop more sustainable approaches to forestry in order to preserve the land for use by future generations.They receive considerable support from mainstream environmental groups.Eco-terrorists,who will sabotage trees in such a way as to injure the forestry worker who is cutting the tree, do not believe that ABC Corporation is doing enough.Which of the following stakeholders should ABC consider in its decisions about forestry?

Accepted Answer

As an ethical forestry company that values sustainability and preserving the land for future generations, ABC Corporation should consider all stakeholders in its decision making process, including employees, environmental groups, the media, and even extremist groups like eco-terrorists. By taking into account the needs and concerns of all stakeholders, ABC Corporation can make more informed and comprehensive decisions that have positive impacts on the environment and society as a whole.

Quiz 3: Identifying Stakeholders and Issues