1. The primary factor behind the transition from a relatively simple business model to the highly complex state we now
have is public recognition that the business organization is no longer the sole property or interest of its
owners.
a. True
b.
False
2. The corporation is currently viewed as having a specialized purpose of providing a profit through the provision
of
goods and
services.
a. True
b.
False
3. Some authors now argue that stakeholder inclusion is the key to corporate
success.
a. True
b.
False
4. The stakeholder view of the finn is now universally
accepted.
a. True
b.
False
5. A major distinction between the managerial view of the firm and the stakeholder view is the recognition that
groups
who think they have a stake in the firm are properly included as stakeholders, whether managers of the firm
agree
with them or
not.
a. True
b.
False
6. The descriptive value of the stakeholder model is based in its ability to identify and describe particular stakeholders
for the
finn.
a. True
b.
False
7. The assumption underlying the instrumental value of the stakeholder model is that effective stakeholder
management
should lead to achievement of traditional business goals such as profits and
growth.
a. True
b.
False
8. The stakeholder model has normative value because it emphasizes how stakeholders should be
treated.
a. True
b.
False
9. One of the reasons that the stakeholder model is becoming more popular is because the stakeholder environment is
finally cahning down after several decades of
turbulence.
a. True
b.
False
10. The use of generic groups to answer the question “Who are our stakeholders?” is generally sufficient for
businesses.
a. True
b.
False
11. Once stakeholders have been identified, the firm can safely assume that they will remain the same for several
years.
a. True
b.
False
12. Before managers in the firm can identify what stakes are held, they must first identify who the stakeholders are.
a. True
b.
False
13. To get a corporation to respond to its demands a stakeholder must hold all three attributes of power, legitimacy,
and
urgency.
a. True
b.
False
14. Because stakeholder challenges usually contain a risk of damage to the finn, they are given more attention
than
stakeholder opportunities in the textbook.
a. True
b.
False
15. In the typology of organizational stakeholders shown in Figure 3-8, a stakeholder that holds both high potential
for
cooperation with and threat to the finn is seen as a mixed
blessing.
a. True
b.
False
16. The primary strategy for a manager relative to a marginal stakeholder is to monitor that
group.
a. True
b.
False
17. A major criticism of the stakeholder management approach is that it is extremely complex and time
consuming.
a. True
b.
False
18. The transactional level of stakeholder management capability requires companies to compete on the basis of their
financial strength and tangible
assets.
a. True
b.
False
19. The primary element in the concept of the stakeholder corporation is that stakeholders should be granted
ownership
positions in the firm relative to their power over the
firm.
a. True
b.
False
20. The key to effective stakeholder management is in its
implementation.
a. True
b.
False
21. For sustainable development to become a reality, which approach offers the best opportunity for this to
happen?
a.
Socioeconomic
b. Stakeholder
c. Shareholder
d. Organizational
22. Some authors indicate that the corporate model needs redefinition because of all the following
except
a. Business
size
b. Socioeconomic
power
c. Inadequacy of the ownership model and its implications
d.
Responsiveness
23. Business organizations must address the legitimate needs and expectations of stakeholders
because
a. it is required by
law.
b. it is the right thing to
do.
c. stakeholders force them
to.
d. they will need to, in order to be successful in the long
run.
24. Which of the following statements is
accurate?
a. Stockholders are the same thing as
stakeholders.
b. All stakeholders are
stockholders.
c. Stakeholders are a subset of
stockholders.
d. Every stockholder is a
stakeholder.
25. An interest or share in something is referred to as
a(n)
a. option.
b. ownership position.
c.
stake.
d. bond.
26. Any type of stake can be viewed as
a(n)
a. option.
b. ownership position.
c. right.
d. duty.
27. An individual or group who can affect or be affected by an organization is
a(n)
a.
stakeholder.
b. stockholder.
c.
shareholder.
d.
owner.
28. Which of the following is not recognized as a type of
stake?
a. an
interest
b. an option
c. a
right
d. ownership
29. The view of the firm that recognizes just suppliers and customers as stakeholders is
the
a. production
view.
b. managerial
view.
c. ownership
view.
d. stakeholder
view.
30. The view of the firm that recognizes suppliers, customers, employees, and owners as stakeholders is
the
a. production
view.
b. managerial
view.
c. ownership
view.
d. stakeholder
view.
31. The view of the firm that recognizes a wide variety of groups as stakeholders is
the
a. production
view.
b. managerial
view.
c. ownership
view.
d. stakeholder
view.
32. Which of the views of the firm recognizes the most stakeholders and is the most
complex?
a. production view
b. managerial
view
c. ownership
view
d. stakeholder
view
33. Which of the views of the firm recognizes the fewest stakeholders and is the least
complex?
a. production view
b. managerial
view
c. ownership
view
d. stakeholder
view
34. A group of people who holds a direct stake in the finu is known as
a. primary social
stakeholders.
b. secondary social
stakeholders.
c.
primary nonsocial stakeholders.
d. secondary nonsocial
stakeholders.
35. A group of people who is able to influence the finn, but does not hold a direct stake in is known as
a. primary social
stakeholders.
b. secondary social
stakeholders.
c.
primary nonsocial stakeholders.
d. secondary nonsocial
stakeholders.
36. 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.
37. A group of people who represents the interests of a nonhuman species (such as the natural environment) and does
not have a direct stake in the finn is known as
a. primary social
stakeholders.
b. secondary social
stakeholders.
c.
primary nonsocial stakeholders.
d. secondary nonsocial
stakeholders.
38. If we consider the stakeholder typology, and the three attributes of power, group number seven in the very center is
called:
a. A defrnitive stakeholder
b. A dormant
stakeholder
c. A dependent
stakeholder
d. A discretionary
stakeholder
39. If we consider the stakeholder typology, and the three attributes of power, group number eight on the outside is
called:
a. A defrnitive stakeholder
b.
A dangerous
stakeholder
c.
A demanding
stakeholder
d. A
nonstakeholder
40. If we consider the stakeholder typology, and the three attributes of power, group number one on the top outside is
called:
a. A dormant
stakeholder
b. A dangerous
stakeholder
c. A demanding
stakeholder
d. A
nonstakeholder
41. Which of the following is not an attribute upon which managers judge the importance of
stakeholders?
a.
power
b.
urgency
c. legitimacy
d. nationality
42. The perceived validity or appropriateness of a stakeholder’s claim is referred to as
a.
power.
b. legitimacy.
c.
urgency.
d. coercion.
43. A stakeholder’s ability or capacity to produce an effect within the finn is called its
a.
power.
b. legitimacy.
c.
urgency.
d. coercion.
44. The degree to which a stakeholder’s claim requires immediate response is its
a.
power.
b. legitimacy.
c.
urgency.
d. coercion.
45. The view of stakeholders that sees them as more than just people or groups who can wield economic or legal
power
is
the
a. strategic
approach.
b. multifiduciary approach.
c. symbiotic
approach.
d. stakeholder synthesis
approach.