Unit 1 – the business environment Stakeholders are extremely important to a business. A stakeholder is basically a group of individuals or a particular organisation that have an interest in the company’s decisions. Stakeholders can be categorised into two sections; internal and external. Internal stakeholders for example are employees within the company whereas external stakeholders are customers‚ suppliers‚ trade unions and much more.an example of a stakeholder is in KFC. Their job is to work within
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Companies such as Enron‚ Exxon‚ Ford‚ Union Carbide and Johnson & Johnson have all had occasions where unethical practices have reared their ugly heads and each chose to handle things differently‚ with varying degrees of consequence. Each of these company ’s bout with unethical behavior will be examined. In July of 1985 Houston Natural Gas merged with Inter North to form Enron‚ originally Natural Gas Pipeline Company. In 1989 Enron began trading natural gas commodities. In June 1994 Enron traded its
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Chapter 01 The Corporation and Its Stakeholders True / False Questions 1. General Motors has been called a "template for 21st century capitalism." True False 2. A business is any organization that is engaged in making a product or providing a service for a profit. True False 3. Businesses and society are independent of one another. True False 4. The stakeholder theory of the firm argues that a firm’s sole purpose is to create value for its shareholders. True
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and society are independent of one another. True False The stakeholder theory of the firm argues that a firm’s sole purpose is to create value for its shareholders. True False The instrumental argument for the stakeholder theory of the firm says that companies perform better if they consider the rights and concerns of multiple groups in society. True False The normative argument for the stakeholder theory of the firm says that the stakeholder view is simply a more realistic description of how companies
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Stakeholders Stakeholders are the ones who have a stake in the organization and thus in some way or the other are related to the organization. This broad definition of stakeholders often leads to confusion; hence a more narrow definition was derived that explains “group who are vital for the organization or groups that help to define the organization‚ its mission‚ purpose and goals‚ and or are most affected by the activities of the organization” (Lebeer‚ 2002‚ p.181). Considering the above
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2—Social Responsibility MULTIPLE CHOICE 1. Stakeholders’ power over businesses stems from their a. ability to withdraw or withhold resources. b. ability to generate profits. c. media impact. d. political influence. e. stock ownership. ANS: A PTS: 1 2. Those who have a claim in some aspect of a firm’s products‚ operations‚ markets‚ industry‚ and outcomes are known as a. shareholders. b. stockholders. c. stakeholders. d. claimholders. e. special-interest groups.
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Monsanto’s started to use the synthetic hormone‚ Posilac I used these stakeholders because they were directly affected by Monsanto’s use of Posilac. It helps cows produce more milk but may cause health problems that affect other stakeholders. =secondary stakeholders =primary stakeholders Questions about your application of the Stakeholder Model of Organizational Decision-Making to the Monsanto case: 1. Why did you decide on the decision
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Managing Communications‚ knowledge and Information Name – Tuan Mohammed Khaalid Sampan Course Title – HNC in Business Student ID – CLA/12B12/4/5780 Email Address– www.khaalid@gmail.com ludmila@cola-uk.com Task 1 1.1 – Discuss the range of decisions to be taken Decision making is the method of choosing the best obtainable course of action after deliberation of the results of that decision and other significant factors. There are several types of business decisions which are taken
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different stakeholders exert in Reigate College) Reigate College Introduction: In this report I am going to investigate into Reigate College and evaluate into the business how different stakeholders in the organisation have an impact on the college all together. Evaluating which of the stakeholders has the most power and those who have the least power and impact on the college‚ also what roles they play towards the college and as individuals what impact they have on the different stakeholders within
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17 Managing Stakeholders Conflicts Helder Moura and José Cardoso Teixeira 17.1 Conflicts: a behavioural process It is not unusual that a chapter on conflict management‚ which is about‚ generally speaking‚ helping people or organizations that are in conflict with each other to deal with their differences‚ opens up with this statement (Moore‚ 1986 cited in Gordon‚ 1966): All societies‚ communities‚ organizations‚ and interpersonal relationships experience conflict at one time or another
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