Stakeholder management

1. Who is considered an internal stakeholder in a fragrance and flavor company?

• a) Customers

• b) Suppliers

• c) Employees

• d) Regulatory bodies

2. Which of the following is an example of an external stakeholder?

• a) R&D team

• b) Marketing department

• c) Client

• d) Production managers

3. What is the primary purpose of stakeholder management?

• a) To maximize profits for the company

• b) To ensure stakeholders are kept informed and satisfied

• c) To minimize stakeholder involvement in decisions

• d) To reduce production costs

4. Which tool is commonly used to categorize stakeholders based on their power and interest?

• a) SWOT Analysis

• b) Power-Interest Grid

• c) PESTEL Analysis

• d) BCG Matrix

5. In the Power-Interest Grid, stakeholders with high power and high interest should be:

• a) Monitored closely

• b) Kept satisfied

• c) Managed closely

• d) Informed regularly

6. Which of the following is a key concern for regulatory stakeholders in the fragrance industry?

• a) Product pricing

• b) Product quality

• c) Compliance with health and safety regulations

• d) Customer loyalty programs

7. What is the most effective way to manage a stakeholder with high power but low interest?

• a) Keep them informed

• b) Monitor them

• c) Keep them satisfied

• d) Manage them closely

8. Why is stakeholder mapping important in a fragrance and flavor company?

• a) To identify potential investors

• b) To organize product launches

• c) To understand the influence and needs of stakeholders

• d) To allocate production resources

9. What should be the primary communication strategy for stakeholders with low power and low interest?

• a) Monitor them

• b) Keep them satisfied

• c) Manage them closely

• d) Keep them informed

10. What is a common challenge when managing stakeholders in the fragrance industry?

• a) Ensuring all stakeholders receive the same product

• b) Balancing competing interests and priorities of various stakeholders

• c) Reducing the number of stakeholders involved

• d) Managing only internal stakeholders