Exam One Chapter Two

Analyze issue

Evaluating the issue

Environmental Intelligence

Acquisition of information gained from analyzing the multiple environments affecting organizations

Identify issue

Anticipating emerging concerns

Stakeholder Engagement

At its core, a relationship

Reactive

Companies act only when forced to do so, and then in a defensive matter

Interactive

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

Inactive

Companies ignore stakeholder concerns

Proactive

Companies try to anticipate stakeholder concerns

Eight Strategic Radar Screens

Customer environment, Competitor environment, Economic environment, Technological environment, Social environment, Political Environment, Legal Environment, Geophysical environment

Performance-Expectation Gap

Discrepancy between what stakeholders expect and what an organization is actually doing

Generate options

Evaluating action options, involves complex judgement

Issue Management Process

Identify issue, analyze issue, generate options, take action, evaluate results

Stages in stakeholder relationship

Inactive Reactive Proactive Interactive

Environmental Analysis

Method managers use to gather information about external issues and trends, so they can develop an organizational strategy that minimized threats and takes advantage of new opportunities

Evaluate results

Must assess results of the program and make adjustments as needed

Take action

Once option is chosen, must design and implement it

Drivers of Stakeholder Engagement

The participation of a business organization is necessary to constitute engagement Engagement is most likely when both the company and its stakeholders both have an urgent and important goal, the motivation to participate, and the organizational capacity to engage with one another