Weighting Stakeholder Claims

Which approach to stakeholder theory emphasizes ethical principles and considers the interests of all stakeholders as intrinsically valuable?

• • Descriptive Approach

• • Instrumental Approach

• • Normative Approach

• • Empirical Approach

What is the main focus of the instrumental approach in stakeholder theory?

• • Understanding actual practices of management.

• • Maximizing financial performance and returns to shareholders.

• • Evaluating the moral obligations of a company.

• • Describing the legal frameworks affecting stakeholders.

Which type of stakeholder may include non-governmental organizations (NGOs), voters, and mass media, impacting firms indirectly?

• • Enabling Stakeholders

• • Functional Stakeholders

• • Normative Stakeholders

• • Diffused Stakeholders

What category of stakeholders influences the norms and informal rules of an industry?

• • Functional Stakeholders

• • Normative Stakeholders

• • Enabling Stakeholders

• • Diffused Stakeholders

During the COVID-19 pandemic, when airlines were forced to reduce flights, which stakeholders were impacted?

• • Airline executives

• • Passengers, airline employees, and travel agencies

• • Government officials

• • Competitors in the tourism sector

In the context of stakeholder theory, what is a "voiceless" stakeholder?

• A stakeholder with clear and direct claims

• A stakeholder that represents only a small number of individuals.

• A stakeholder group that lacks power to influence decisions.

• A stakeholder who actively engages in negotiations.

A stakeholder is... (choose the most correct answer)

• anybody who is affected by the business or who in turn could have an impact on the success of the business.

• someone who is either an employee, owner or customer of the business.

• anyone who lives in the community the business is physically located in.

• Anyone who has made an investment in the business.

As a stakeholder, what interest would the employees have in a business?

• Following Legislations
• Business Relationships
• Payment Methods
• Staff Pay

The Government is interested in a business because:

• They will want to buy the products

• They want the business to comply with the law and pay taxes

• They want good quality products

• They want to be paid the money they are owed

A related theme to recall is that even though all stakeholder claims are important for a company to acknowledge, not all claims are of ---- importance.