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Who Are Stakeholders?

Total questions: 71

Worksheet time: 36mins

Name
Class
Date
1.

What is the definition of stakeholders? Fill in the blank: Stakeholders are individuals or groups who are ________ by or can ________ a business.

a)

affected, affect

b)

employed, manage

c)

owned, operate

d)

financed, control

2.

Which of the following is an example of an internal stakeholder?

a)

Customer

b)

Supplier

c)

Owner

d)

Government

3.

Which of the following is NOT an external stakeholder?

a)

Community

b)

Manager

c)

Supplier

d)

Government

4.

What are the main interests of Owners as stakeholders?

a)

profit, growth

b)

job security, training

c)

customer service, loyalty

d)

environmental protection, sustainability

5.

What are the main interests of Employees as stakeholders? (Fill in the blank)

a)

wages, security

b)

company profits, dividends

c)

market share, branding

d)

customer satisfaction, loyalty

6.

What are the main interests of Customers as stakeholders? (Fill in the blank)

a)

value, quality

b)

profit, loss

c)

power, control

d)

location, distance

7.

What are the main interests of Suppliers as stakeholders? (Fill in the blank)

a)

payments, contracts

b)

marketing, branding

c)

employee benefits, training

d)

customer service, loyalty programs

8.

What are the main interests of Government as stakeholders? (Fill in the blank)

a)

taxes, compliance

b)

profits, dividends

c)

brand image, customer loyalty

d)

employee satisfaction, training

9.

What are the main interests of Community as stakeholders? (Fill in the blank)

a)

jobs, environment

b)

profits, dividends

c)

patents, copyrights

d)

market share, branding

10.

Task: Choose a local business and identify how many stakeholders you should list for the chosen business.

a)

At least 6 stakeholders

b)

Only 2 stakeholders

c)

Exactly 10 stakeholders

d)

No stakeholders

11.

Task: Choose a local business. What are the interests of the stakeholders you identified?

a)

Profit, community impact, employee welfare, customer satisfaction

b)

Only profit for the owner

c)

Only customer satisfaction

d)

Only employee welfare

12.

Fill in the blank: Influence is the ______ to affect decisions.

a)

ability

b)

requirement

c)

obligation

d)

permission

13.

Which of the following is an example of stakeholder influence by employees?

a)

A) Boycotts

b)

B) Strikes

c)

C) Advertising

d)

D) Investments

14.

Which of the following is an example of stakeholder influence by customers?

a)

Strikes

b)

Boycotts

c)

Negotiations

d)

Mergers

15.

Fill in the blank: Mendelow’s Matrix is used to analyze Power vs ______.

a)

Interest

b)

Risk

c)

Time

d)

Cost

16.

Map Tesco’s stakeholders on a power-interest grid.

a)

Place stakeholders in quadrants based on their level of power and interest.

b)

List all stakeholders alphabetically.

c)

Rank stakeholders by their financial contribution only.

d)

Group stakeholders by department within Tesco.

17.

What is an example of a stakeholder conflict mentioned in the slide?

a)

Ryanair strikes

b)

Amazon Prime Day

c)

Apple product launch

d)

Google I/O

18.

In the example of Ryanair strikes, which group is in conflict with management?

a)

Employees

b)

Customers

c)

Shareholders

d)

Suppliers

19.

Fill in the blank: During the Ryanair strikes, ________ were frustrated.

a)

Customers

b)

Pilots

c)

Shareholders

d)

Competitors

20.

Fill in the blank: During the Ryanair strikes, ________ were unhappy.

a)

Shareholders

b)

Pilots

c)

Passengers

d)

Managers

21.

As a Customer, how might you feel if a business cuts costs?

a)

Concerned about reduced quality or service

b)

Excited about potential lower prices

c)

Indifferent to business decisions

d)

Happy about fewer product choices

22.

As an Employee, how might you feel about the business cutting costs?

a)

Concerned about potential job losses or reduced benefits

b)

Excited about new opportunities for growth

c)

Indifferent to any changes in the business

d)

Hopeful for increased salaries

23.

As a Shareholder, how would you feel about the business cutting costs, and what arguments would you make in the debate?

a)

Shareholders would generally support cost-cutting as it can increase profits and shareholder value.

b)

Shareholders would oppose cost-cutting because it always leads to business failure.

c)

Shareholders would feel indifferent about cost-cutting as it does not affect them.

d)

Shareholders would argue that cost-cutting is unnecessary in any situation.

24.

What does CSR stand for in the context of balancing stakeholders?

a)

Corporate Social Responsibility

b)

Customer Service Relations

c)

Corporate Stakeholder Relations

d)

Community Social Response

25.

Which company is given as an example of improving supply chain ethics in the provided material?

a)

Adidas

b)

Nike

c)

Apple

d)

Samsung

26.

Fill in the blank: The concept of ________ involves companies taking responsibility for their impact on society and the environment.

a)

Corporate Social Responsibility (CSR)

b)

Market Segmentation

c)

Product Differentiation

d)

Supply Chain Management

27.

The stakeholders involved in the Nottingham Tram extension include:

a)

local government, transport authorities, construction companies, and local residents

b)

only the local government

c)

only the construction companies

d)

only the transport authorities

28.

The Nottingham Tram extension results in gains and losses for different groups. Who benefits and who is disadvantaged?

a)

Commuters benefit, some local businesses are disadvantaged

b)

All residents benefit equally

c)

Only tourists benefit, locals are disadvantaged

d)

No one benefits, everyone is disadvantaged

29.

Fill in the blank: The individuals or groups that have an interest in the success and decisions of a business are called _________.

a)

stakeholders

b)

employees

c)

customers

d)

managers

30.

Fill in the blank: The ability of stakeholders to affect the actions, decisions, and policies of a business is known as _________.

a)

influence

b)

compliance

c)

profitability

d)

diversification

31.

Fill in the blank: Disagreements or clashes between stakeholders due to differing interests are called _________.

a)

conflicts

b)

agreements

c)

alliances

d)

negotiations

32.

Fill in the blank: The process of managing and addressing the different needs and priorities of stakeholders is called _________.

a)

balancing interests

b)

resource allocation

c)

risk assessment

d)

performance evaluation

33.

One stakeholder conflict businesses may face in the next 5 years is:

a)

Balancing employee interests with automation initiatives

b)

Increasing product prices due to inflation

c)

Expanding into new markets without competition

d)

Reducing marketing budgets to increase profits

34.

Aims and objectives are defined as:

a)

Broad statements of desired outcomes and specific steps to achieve them.

b)

Detailed financial plans for a project.

c)

Lists of resources required for a task.

d)

Descriptions of team members' roles.

35.

Strategy and tactics can be distinguished as follows:

a)

Strategy is the overall plan, while tactics are the specific actions taken to achieve the plan.

b)

Strategy and tactics are the same and can be used interchangeably.

c)

Tactics refer to long-term goals, while strategy refers to short-term actions.

d)

Strategy is about immediate actions, while tactics focus on the big picture.

36.

The importance of planning in business is that it:

a)

Helps set clear objectives and direction

b)

Eliminates all risks

c)

Guarantees immediate profits

d)

Removes the need for management

37.

What is one common aim of a business? Fill in the blank: One common aim of a business is _________?

a)

Survival

b)

Confusion

c)

Stagnation

d)

Isolation

38.

What is one common aim of a business? Fill in the blank: One common aim of a business is _________?

a)

Profit

b)

Confusion

c)

Vacation

d)

Ignorance

39.

What is one common aim of a business? Fill in the blank: One common aim of a business is _________.

a)

Growth

b)

Confusion

c)

Stagnation

d)

Neglect

40.

What is one common aim of a business? Fill in the blank: One common aim of a business is _________?

a)

Market share

b)

Sleeping

c)

Painting

d)

Singing

41.

What is one common aim of a business? Fill in the blank: One common aim of a business is _________?

a)

Social purpose

b)

Randomness

c)

Isolation

d)

Stagnation

42.

According to the example, what is the main aim of start-ups?

a)

Survival

b)

Rapid expansion

c)

Immediate profit

d)

Global domination

43.

According to the example, what are the main aims of PLCs?

a)

Profit & growth

b)

Reducing competition

c)

Maintaining tradition

d)

Limiting innovation

44.

Rank the aims for a small bakery.

a)

Increase sales, improve product quality, expand customer base, reduce costs

b)

Reduce product variety, limit customer service, increase waste, decrease sales

c)

Ignore customer feedback, increase prices, reduce quality, limit hours

d)

Decrease marketing, reduce staff, limit menu, increase prices

45.

Rank aims for Amazon.

a)

1. Customer obsession, 2. Operational excellence, 3. Long-term thinking, 4. Innovation

b)

1. Short-term profits, 2. Customer obsession, 3. High prices, 4. Limited selection

c)

1. Operational excellence, 2. High prices, 3. Limited selection, 4. Short-term profits

d)

1. Innovation, 2. High prices, 3. Customer neglect, 4. Short-term thinking

46.

What does the 'S' in SMART objectives stand for?

a)

Specific

b)

Simple

c)

Strategic

d)

Sustainable

47.

What does the 'M' in SMART objectives stand for?

a)

Measurable

b)

Manageable

c)

Meaningful

d)

Motivational

48.

What does the 'A' in SMART objectives stand for?

a)

Achievable

b)

Actionable

c)

Accountable

d)

Adaptable

49.

What does the 'R' in SMART objectives stand for?

a)

Relevant

b)

Random

c)

Rapid

d)

Reliable

50.

What does the 'T' in SMART objectives stand for?

a)

Time-bound

b)

Tangible

c)

Tolerant

d)

Transparent

51.

Which of the following is an example of a SMART objective?

a)

Increase sales by 10% within 6 months

b)

Work harder

c)

Be the best company

d)

Make more money

52.

Fill in the blank: A SMART objective should be ________, measurable, achievable, relevant, and time-bound.

a)

specific

b)

simple

c)

special

d)

sensible

53.

Convert the vague aim into a SMART objective: Increase profit.

a)

Increase profit by 10% within the next 12 months by launching two new products and optimizing current sales channels.

b)

Increase profit as soon as possible.

c)

Increase profit by hiring more staff.

d)

Increase profit by reducing costs eventually.

54.

Convert the vague aim into a SMART objective: Improve customer service.

a)

Improve customer service by reducing average response time to customer inquiries to under 2 hours within the next 6 months.

b)

Improve customer service by asking employees to be nicer.

c)

Improve customer service by hoping for better results.

d)

Improve customer service by telling staff to try harder.

55.

Convert the vague aim into a SMART objective: Expand online presence.

a)

Expand online presence by increasing website traffic by 30% and gaining 1,000 new social media followers within the next 9 months.

b)

Expand online presence by posting more frequently on social media.

c)

Expand online presence by creating a new website.

d)

Expand online presence by updating the company logo.

56.

Fill in the blank: Strategic means ______-term.

a)

Long-term

b)

Short-term

c)

Immediate

d)

Temporary

57.

Fill in the blank: Tactical means ______-term.

a)

Short-term

b)

Long-term

c)

Medium-term

d)

No fixed

58.

What is Amazon's strategic aim according to the example in the slide?

a)

Launch AWS free trials

b)

Dominate cloud services

c)

Increase product sales

d)

Improve customer service

59.

What is an example of a tactical action by Amazon according to the slide?

a)

Dominate cloud services

b)

Launch AWS free trials

c)

Expand to new markets

d)

Reduce prices

60.

The strategic aspects of Amazon Prime growth include:

a)

Expanding membership benefits to increase customer loyalty

b)

Reducing product variety to lower costs

c)

Limiting delivery options to urban areas only

d)

Focusing solely on digital content

61.

Activity 3: Amazon Case Study Prime Day sales campaigns utilize which of the following tactical elements?

a)

Limited-time discounts and exclusive deals

b)

Year-round consistent pricing

c)

No advertising or marketing efforts

d)

Focus on in-store promotions only

62.

What is the first step in the Planning Cycle?

a)

Mission

b)

Evaluation

c)

Implementation

d)

Feedback

63.

What comes after 'Aims' in the Planning Cycle?

a)

Objectives

b)

Evaluation

c)

Resources

d)

Implementation

64.

Which of the following is NOT a step in the Planning Cycle?

a)

A) Mission

b)

B) Review

c)

C) Execution

d)

D) Tactics

65.

Fill in the blank: Mission → Aims → Objectives → _______ → Tactics → Review

a)

Strategy

b)

Vision

c)

Policy

d)

Execution

66.

What is the final step in the Planning Cycle?

a)

Review

b)

Initiate

c)

Execute

d)

Monitor

67.

Arrange the following steps in the correct order as per the Planning Cycle: Tactics, Mission, Review, Objectives, Strategy, Aims.

a)

Mission, Aims, Objectives, Strategy, Tactics, Review

b)

Aims, Mission, Objectives, Tactics, Strategy, Review

c)

Objectives, Mission, Aims, Strategy, Tactics, Review

d)

Mission, Objectives, Aims, Strategy, Tactics, Review

68.

Why is it important to create a business plan?

a)

To secure funding

b)

To provide a roadmap

c)

To identify risks

d)

To increase product prices

69.

Fill in the blank: A business plan is your idea + your ______ + your goals + your plan of action + your numbers.

a)

plan of action

b)

favorite color

c)

lucky number

d)

pet's name

e)

hobby

70.

Which of the following is NOT a reason to create a business plan?

a)

Secure funding

b)

Provide roadmap

c)

Identify risks

d)

Increase product prices

71.

What is an example of a business plan success mentioned in the slide?

a)

Dragons’ Den successes

b)

Failed start-ups

c)

Unproven business models

d)

Bankrupt companies