1.4

Question 1

What are the two kinds of stakeholders?

Answer 1

Internal and external

Question 2

What are internal stakeholders?

Answer 2

an individual that is affected by an organisation that is directly related to the organisation

Question 3

Give examples of internal stakeholders

Answer 3

managers, employees, and shareholders

Question 4

What are external stakeholders?

Answer 4

an individual that is affected by an organisation that is not directly related to the organisation

Question 5

What are the kinds of external stakeholders?

Answer 5

Customers, suppliers, governments, labour unions, banks and financial insitutions, society

Question 6

What is stakeholder alignment?

Answer 6

finding a way in which all stakeholders fulfill their interests by aligning them usually to the long term than the short term

Question 7

What are the three types of stakeholder alignment?

Answer 7

economic sustainability, sociocultural sustainability, environmental sustainability

Question 8

What is economic sustainability stakeholder alignment?

Answer 8

Stakeholders realize that for the business to succeed, they will need to earn profits and reinvest some into the business

Question 9

What is sociocultural sustainability stakeholder alignment?

Answer 9

Stakeholders realize that the business has to have a positive impact on all people, a distributing value to a wide range of stakeholders

Question 9

What is environmental sustainability stakeholder alignment?

Answer 9

Stakeholders realize that the business must have a positive impact on the planet

Question 10

What is stakeholder conflict?

Answer 10

Stakeholders might prioritize their own interests over others leading to conflict