WorkKeys Vocab 2

Front

What is a stakeholder?

Back

A stakeholder is an individual or group that has an interest in the success of a company or organization, such as employees, suppliers, customers, and investors.

Front

What is nepotism?

Back

Nepotism is the practice of favoring relatives or friends when giving them jobs or promotions, often leading to unearned job positions.

Front

What is the primary concern of a stakeholder?

Back

The primary concern of a stakeholder is the company's success, as it directly affects their interests.

Front

What is a business network?

Back

A business network refers to a group of individuals or organizations that collaborate and share information to promote advertising and business opportunities.

Front

What does 'Protocol' mean in a business context?

Back

Protocol refers to the customs and regulations for dealing with formality, precedence, or etiquette in business interactions.

Front

What is the role of a supplier in a business?

Back

A supplier provides goods or services to a company, playing a crucial role in the supply chain and overall business operations.

Front

What are the consequences of nepotism in the workplace?

Back

Consequences of nepotism can include decreased morale among employees, perceptions of unfairness, and potential legal issues.

Front

How can stakeholders influence a company's decisions?

Back

Stakeholders can influence a company's decisions through feedback, demands, and by holding the company accountable for its actions.

Front

What is the importance of networking in business?

Back

Networking is important in business as it helps build relationships, share resources, and create opportunities for collaboration and growth.

Front

What is an example of a stakeholder in a business?

Back

An example of a stakeholder is a supplier, as they have a vested interest in the company's success and operations.