Bus. Mang. Ch 3

Question 0

Internal stakeholders

Answer 0

Consist of employees, owners, and the Board of Directors, if any.

Question 1

Stakeholders

Answer 1

The people whose interests are affected by an organization’s activities

Question 2

Owners

Answer 2

All of those who can claim an organization as their legal property

Question 3

External stakeholders

Answer 3

People or groups in the organizations external environment that are affected by it. Two parts – the task environment and the general environment

Question 4

Task environment

Answer 4

Consist of 11 groups that present you with daily tasks to handle: customers, competitors, suppliers, distributors, strategic allies, employee organizations, local communities, financial institutions, government regulators, special interest groups, and mass media

Question 5

Clawbacks

Answer 5

Rescinding the tax breaks when firms don’t deliver promised jobs

Question 6

General environment or macro environment

Answer 6

Includes six forces: economic, technological, sociocultural, demographic, political legal, and international

Question 7

Economic forces

Answer 7

Consists of the general account economic conditions and trends – unemployment, inflation, interest rates, economic growth – that may affect an organization’s performance

Question 8

Technological forces

Answer 8

New developments in methods for transforming resources into goods or services

Question 9

Sociocultural forces

Answer 9

Influences and Trennes originating in a countries, a societies, or cultures human relationships and values that may affect an organization

Question 10

Demographic forces

Answer 10

Influences on an organization arising from changes in the characteristics of a population, such as age, gender, or ethnic origin

Question 11

Political legal forces

Answer 11

I changes in the way politics shaped laws and laws shape the opportunities for and threats to an organization

Question 12

International forces

Answer 12

Changes in economic, political, legal, and technological global system that may affect an organization

Question 13

Insider-trading

Answer 13

Illegal trading of a company stock by people using confidential company information

Question 14

Ponzi scheme

Answer 14

Using cash from new investors to pay off older ones

Question 15

Social responsibility

Answer 15

A managers duty to take action that will benefit the interest of society as well as the organization

Question 16

Corporate social responsibility CSR

Answer 16

The notion that corporations are expected to go above and beyond following the law and making a profit