Chapter 1

Involves understanding the nature of stakeholder interests

A stakeholder analysis

Innovating New Products, Increasing their Stock Price, and Developing their Employees' Professional Skills

Corporations that run their operations according to the stakeholder theory of the firm create value by

Within a finite natural ecosystem

Interactions between business and society occur

Stakeholders, Business Support Groups, and Environmental Activists

Stakeholder groups can include

Communications Technology

Stakeholders have been able to form international coalitions more successfully through use of

Legal Power

When a community group sues a company for health effects caused by the unsafe disposal of toxic chemicals, this is an exercise of a stakeholder's

Descriptive Argument

Which argument says that stakeholder management realistically depicts how companies really work?

Creditors

A market stakeholder is exemplified by which of the following?

Investors

A firm subscribing to the shareholder theory of the firm would mainly be concerned with providing value for its

Managers

All of the following are external stakeholders of the firm except

Employees, Customers, and Shareholders

What stakeholder groups can exercise legal power?

Boundary Spanning Departments

Departments, or offices, within an organization that reach across the dividing line that separates the company from groups and people in society are

More effective as a corporate strategy

The instrumental argument says stakeholder management is

Nongovernmental organizations

Which one of the following is considered to be a nonmarket stakeholder of business?

Actions by governments rarely affect business

Which statement is not correct about the business-society interdependence?