Final review 1.4

Which of the following is not an example of internal stakeholders?

• Customers

• Employees

• Shareholders

• Directors

Which of the following is not an example of external stakeholders?

• Suppliers

• The government

• Shareholders

• Lenders

What is a situation that arises when directors wish for large bonuses and perks, such as company cars, while shareholders wish for higher dividends?

• Stakeholder conflict

• Crisis management

• Corruption

• Contingency planning

Which of the following best describes the primary function of stakeholder analysis?

• To determine a firm or product’s growth strategy

• To assess the current and future situation of a firm or product and the external factors that can affect it

• To determine the firm’s key stakeholders based on their levels of power and interest

• To identify the driving and restraining forces of change

What level of effort should organizations commit to those stakeholders who have low power and low interest in the firm?

• Minimal

• Maximum

• Medium

• Ignore

How should firms behave with those stakeholders who have low power but high interest in the firm?

• Commit minimal effort

• Keep them informed

• Keep them satisfied

• Commit maximum effort

How should firms behave with those stakeholders who have high power but low interest in the firm?

• Commit minimal effort

• Keep them informed

• Keep them satisfied

• Commit maximum effort

Under what circumstance will customers possess a high level of power?

• When there is a large number of substitute products

• When there are only a few, large clients in the market

• When the product is unique

• When the market is saturated

Which of the following is least likely to be a method used to resolve stakeholder conflicts?

• Arbitration

• Governmental intervention

• Compensation

• Improving effectiveness of communications

A group or individual with a relationship to the change, the need, or the solution.

• Stakeholder

• End User

• Customer

• Product Owner