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