Award: 1.00 point
14.
Award: 1.00 point
In order to better achieve a competitive advantage, firms must now adopt a holistic approach
towards satisfying multiple stakeholders opposed to focusing on the needs of their stockholders.
This integrative approach is referred to as
stakeholder strategy.
internal shareholder strategy.
integration strategy.
exchange relationship strategy.
Stakeholder strategy is an integrative approach to managing a diverse set of stakeholders
effectively in order to gain and sustain competitive advantage.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-03 Assess the
relationship between stakeholder
strategy and sustainable competitive
advantage.
All of the following are external stakeholders except which of the following?
customers
creditors
alliance partners
competitors
Competitors are not considered internal or external stakeholders in the firm.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-03 Assess the
relationship between stakeholder
strategy and sustainable competitive
advantage.
15.
Award: 1.00 point
John is a bit confused about the difference between stakeholders and stockholders. You meet with
John and inform him that the main difference is that
stakeholders are both internal and external to the firm while stockholders are considered
external to the firm.
stakeholders are considered internal to the firm while stockholders are external to the firm.
stakeholders can be both internal and external while stockholders own shares of a firm
and are classified as internal to the firm.
stakeholders are external to the firm while stockholders are considered internal to the firm.
Stakeholder strategy is an integrative approach to managing a diverse set of stakeholders
effectively in order to gain and sustain competitive advantage. Internal stakeholders include;
employees (executives, managers, and workers), stockholders, and board members. External
stakeholders include customers, suppliers, alliance partners, creditors, unions, communities,
governments at various levels, and the media.
References
Multiple Choice Difficulty: 3 Hard Learning Objective: 01-03 Assess the
relationship between stakeholder
strategy and sustainable competitive
advantage.
16.
Award: 1.00 point
17.
Award: 1.00 point
Which of the following three important stakeholder attributes should managers pay special close
attention to in order to better understand stakeholder impact analysis?
competitive advantage, economic value, and time
power, legitimacy, and urgency
grace under pressure, financial control, and reward power
shareholder rights plan, board representation and CEO influence
Stakeholder impact analysis provides a decision tool with which strategic leaders can recognize,
prioritize, and address the needs of different stakeholders—during each step managers must pay
attention to three important stakeholder attributes: power, legitimacy, and urgency.
References
Multiple Choice Difficulty: 3 Hard Learning Objective: 01-04 Conduct a
stakeholder impact analysis.
Most consumers and investors today want the firms they do business with to look beyond just the
profit motive. In fact, they want firms that behave legally and ethically while also giving back to their
communities via philanthropic activities. The framework that attempts to reconcile these wants is
known as
corporate social responsibility.
stakeholder impact analysis.
business model analysis.
value chain driven decision making.
Corporate social responsibility is a framework that helps firms recognize and address the economic,
legal, ethical, and philanthropic expectations that society has of the business enterprise at a given
point in time.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-04 Conduct a
stakeholder impact analysis.
18.
Award: 1.00 point
19.
Award: 1.00 point
Which of the following terms describes the guiding policy to address the competitive challenge, and
uses corporate- and business-level strategy?
analysis
formulation
implementation
competitive advantage
During the formulation stage, managers must identify the business and corporate level strategies to
address all competitive challenges they face.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-05 Explain the
Analysis, Formulation, Implementation