Ch3-4

Question 1

Reaction

Answer 1

Deny responsibility and argue we are not to blame or required to act

Question 2

Defence

Answer 2

Admit responsibility but fight to do the very least required to defend the current position

Question 3

Accomodation

Answer 3

Accept responsibility and do what is demanded by relevant groups

Question 4

Proaction

Answer 4

Go beyond industry norms and anticipate future expectations by doing more than what is expected

Question 5

Short-term shareholder interest

Answer 5

1 year view to maximise profits. Government set legal minimum and anything extra is at detriment to tax payers

Question 6

Long-term shareholder interest

Answer 6

Long term view to maximise profits. Some additional costs may be taken now for future benefits and considers other stakeholder impacts on the long term profit

Question 7

Multiple stakeholder obligation

Answer 7

Exist for more than profit making and a financial purpose - has a role to pay in society and considers all stakeholder interests

Question 8

Shaper of society

Answer 8

Ideologically driven stance with the vision being the focus of all its actions with financial aspects and stakeholder interests being secondary to the organsations overriding purpose.

Question 9

Brand competitiors

Answer 9

Sell similar products to the same customers we serve e.g. pepsi and coke

Question 10

Industry competitors

Answer 10

Sell similar products but in different segments e.g. BA vs singapore airlines

Question 11

Form competitiors

Answer 11

Sell products that satisfy the same need as ours though technically very different e.g. boat vs holiday hooe

Question 12

Generic competitiors

Answer 12

Compete for the same income e.g. home improvement and golf clubs

Question 13

Laid back response

Answer 13

Does not respond

Question 14

Selective response

Answer 14

Reacts to attach in only selected markets

Question 15

Tiger response

Answer 15

Always responds aggressively

Question 16

Stochastic response

Answer 16

No predictable pattern exists

Question 17

Demand conditions

Answer 17

Demand from the domestic market provides the primary driver of growth, innovation and quality improvement

Question 18

Factor conditions

Answer 18

Resource constraints which encourage the development of substitute capabilities. Can be basic or advanced.

Question 19

Basic factor conditions

Answer 19

Natural resources, climate, population

Question 20

Advanced factor conditions

Answer 20

Skills, education, technology, infrastructure, communications etc