Stakeholders in business organization

Customers are ____ stakeholders, while managers are ____ stakeholders. Which two words fill the gaps in the above sentence?

• External, Internal

• Internal, External

• Connected, Internal

• Internal, Connected

Stakeholders can be classified in several different ways, including:

(i) Primary

(ii) External

(iii) Connected

(iv) Secondary

Which TWO categories would pressure groups usually be included within?

• (i)and (iii)

• (i) and (iv)

• (ii) and (iv)

A is a large company whose shares are owned by a large number of individual investors, who do not wish to engage with the company’s decision making despite having full rights to do so. When using Mendelow’s matrix this stakeholder group would be classed as:

• minimal effort

• keep informed

• keep satisfied

• key players

A company is using a communication strategy aimed at explaining the rationale behind its actions to its stakeholders. Using Mendelow’s matrix, these stakeholders would be categorised as ‘minimal effort’. Is this statement TRUE or FALSE?

• True

• False

The interests of customers and shareholders can often appear to conflict — for example in the quality of goods and services. Is this statement TRUE or FALSE?

• True

• False

Which of the following would NOT be described as a connected stakeholder?

• Customers

• Suppliers

• Employees

• Shareholders

Which of the following would be classified as an internal stakeholder?

• Shareholders

• Customers

• Directors

• Finance providers

There are a number of different ways of classifying stakeholders, including:

(i) Internal

(ii) Connected

(iii) Primary

(iv) Secondary

Which two of the above categories would suppliers fall into?

• (i) and (iii)

• (i) and (iv)

• (ii) and (iii)

• (ii) and (iv)

A stakeholder has a high level of interest, but has little influence over the organisation. According to Mendelow’s matrix, the strategy that should be adopted for this stakeholder is:

• Minimal effort

• Keep satisfied

• Keep informed

• Key player

Consider the following statements regarding stakeholders:

(i) Managers only need to consider those stakeholders who are ‘key players’ on Mendelow’s matrix.

(ii) Employees and managers are both internal stakeholders, meaning that they have the same objectives as each other.

Which of these statements is/are correct?

• (i) only

• (ii) only

• Both

• Neither