Ch. 2

Stakeholder Dialogue

A business and its stakeholders come together for face-to-face conversations about issues of common conern

Environmental Analysis

A method managers use to gather information about external issues and trends, so they can develop and organizational strategy that minimizes threats and takes advantage of new opportunities.

Competitive Intelligence

The systematic and continuous process of gathering, analyzing, and managing external information about the organization's competitors that can affect the organizations plans, decisions, and operations

Drivers of Stakeholder Engagement

Urgent and important goal, the motivation to participate, and the organization capacity to engage with one another.

Public Issue

Any issue that is of mutual concern to an organization and one or more of its stakeholders.

Interactive

Companies actively engage with stakeholders in ongoing relationship of mutual respect, openness, and trust.

Inactive

Companies simply ignore stakeholder concerns

Proactive

Companies try to anticipate stakeholder concerns

Stakeholder Networks

Corporations sometimes encounter public issues that they can address effectively only by working collaboratively with other business and concerned personas and organizations.

Context

Emerging environmental and social trends affecting business

Reactive

Generally act only when forced to do so, then in a defensive manner

Issue Management

Has five steps: Identify Issue, Analyze Issue, Generate Options, Take Action, Evaluate Results

Stages in the Business

Inactive, Reactive, Proactive, and Interactive

Conectedness

The ability to engage with external stakeholders in dialogue and partnership

Environmental Intelligence

The acquisition of information gained from analyzing the multiple environments affecting organizations.

Performance Expectations Gap

The gap between what stakeholders expect and what actually happens within the corporation.