MGMT 3211 Chapter 2

issue management process

5 step process where managers identify the issue, analyze the issue, generate options, take action, and evaluate results

A public issue exists when there is agreement between the stakeholders' expectations of what a business firm should do and the actual performance of that business firm.

False

According to management scholar Karl Albrecht, scanning to acquire environmental intelligence should focus on four strategic radar screens.

False

Because the public issues that garner the most public attention change over time, companies do not waste time tracking them.

False

Dialogue between a single firm and its stakeholders is always sufficient to address an issue effectively.

False

Financially sound companies do not need to understand how a public issue is likely to evolve, or how it will affect them.

False

Legal environment includes the structure, processes, and actions of government at the local, state, national, and international levels.

False

Organizations always have full control of a public issue.

False

Companies are learning that it is important to take a strategic approach to the management of public issues, both domestically and globally.

True

Competitive intelligence enables managers in companies of all sizes to make informed decisions in all areas of the business.

True

Emerging public issues are both a risk and an opportunity.

True

Environmental analysis is a method managers use to gather information about external issues and trends.

True

Environmental intelligence is the acquisition of information gained from analyzing the multiple environments affecting organizations.

True

For stakeholder engagement to occur, both the business and the stakeholder must be motivated to work with one another to solve the problem.

True

In the issue management process, identifying the issue involves anticipating emerging issues.

True

Understanding and responding to changing societal expectations is a business necessity.

True

stakeholder networks

a connected assembly of concerned individuals or organizations defined by their shared focus on a particular issue, problem, or opportunity

environmental analysis

a method managers use to gather information about external issues and trends

public issue

an issue that is of mutual concern to an organization and its stakeholders, sometimes called a social or sociopolitical issue

stakeholder engagement

an ongoing process of relationship building between a business and its stakeholders

stakeholder dialogue

conversations between representatives of a company and its stakeholders to pursue a common interest

environmental intelligence

the acquisition of information gained from analyzing the multiple environments affecting the organization

issue management

the active management of public issues once they come to the attention of a business organizations

performance-expectations gap

the perceived distance between what a firm wants to do or is doing and what the stakeholder expects

competitive intelligence

the systematic and continuous process of gathering, analyzing, and managing external information on the organization's competitors