Exam1 - FC4 - The flashcards are formatted for printing....

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Nonmarket Stakeholders Market Stakeholders
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i.e. employees, stockholders, creditors, suppliers, customers, distributors, wholesalers, and retailers i.e. communities, governments, non- governmental organizations, media, business support groups, and the general public
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Stakeholder Interests “Who are the Relevant Stakeholders?”
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Answer this question by drawing market and nonmarket stakeholder maps; recognize that not all of the groups are relevant to every situation (i.e. some businesses sell directly to the public and will Analyzing them includes addressing the group’s concerns and what the group wants and expects from their relationship with the firm (i.e. customers want to gain a fair value and quality in
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not have retailers). goods and services they purchase.
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1. Voting power 2. Economic power 3. Political power 4. Legal power Stakeholder Power
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The ability of a group to use resources to make an event happen or to secure a desired outcome. Types of stakeholder power:
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Performance- Expectations Gap Identify Issue
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Anticipating emerging concerns, or “horizon” issues. The difference between the expected corporate performance and the actual corporate performance.
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1. Identify issue 2. Analyze issue 3. Generate options 4. Take action 1. Customer environment 2. Competitor environment 3. Economic environment 4. Technologic
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5. Evaluate results al environment 5. Social environment 6. Political environment 7. Legal environment
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8. Geophysical environment
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Eight strategic radar screens: The issue management process:
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Generate Options Analyze Issue
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coming to an understanding of how it will evolve and how it will affect the organization. Evaluating action
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Exam1 - FC4 - The flashcards are formatted for printing....

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