The first step in stakeholder impact analysis involves
A) formulating a stakeholder strategy to balance the different needs of various stakeholders.
B) identifying the opportunities and threats the stakeholders present.
C) describing the economic, legal, ethical, and philanthropic responsibilities of the firm toward the society.
D) identifying the stakeholders that currently have, or potentially can have, a material effect on a company.

Question

Quizplus · Accepted Answer

In the first step of stakeholder impact analysis, the firm focuses on stakeholders that currently have, or potentially can have, a material effect on a company. This prioritization identifies the most powerful stakeholders (both internal and external) and their needs.

The First Step in Stakeholder Impact Analysis Involves