Corporate Public Policy

Question 1

Explain strategic management

Answer 1

Consists of the analysis, decisions and actions an organisation undertakes in order to create and sustain competitive advantage.

Question 2

What are the four key strategy levels?

Answer 2

Enterprise
Corporate
Business
Functional

Question 3

Explain enterprise level strategy outlining a key question.

Answer 3

For what do we stand? Thought of as a concept that aligns social and ethical concerns with traditional business concerns. (Code of ethics)

Question 4

What is social entrepreneurship?

Answer 4

Adopting a mission to create and sustain social value.

Recognising and Pershing new opportunities. It’s mission is to create societal value.

Question 5

Explain corporate level strategy outlining a key question.

Answer 5

In what business should we be? - most defining question for a firm.
Deals with mergers, global markets, ethics, sustainability etc.

Question 6

Explain business level strategy outlining a key question.

Answer 6

How should we compete in a given business or industry?

Addresses if a product is low cost, differentiated, broad or narrow markets, sustainability

Question 7

Explain functional level strategy outlining a key question.

Answer 7

How should we integrate sub-functional activities and relate them to functional areas?
Helps to ascertain that their functional areas are consistent with the firms values.

Question 8

What is public affairs?

Answer 8

Corporate strategy and planning. The management process that focuses on the formalisation and institutionalisation of corporate public policy.

Question 9

List some of the tools and techniques of public affairs.

Answer 9

Env. Monitoring and scanning 
Working with grass roots (astroturfing)
Issue advertising 
Web activism
Coalitions
Community investment

Question 10

What is the relationship between social networks and public relations?

Answer 10

Technology has revolutionised corporate communication.

Companies can no longer control the messages

Question 11

What is spin doctoring? Provide examples.

Answer 11

The presentation of only one side of a situation

For example. Mars bars size decrease. News of the world closing down.

Question 12

Define astroturfing.

Answer 12

Fake grassroots campaigns that create the impression That large numbers of people are demanding Or opposing certain policies.
Used as a technique by companies to generate popular support.

Question 13

What is corporate public policy?

Answer 13

The component of management decision making that embraced social ethical and public issues.