This includes your impact on the environment and the quality of life of communities. When she confronted him, he said this was standard procedure for some waste materials to avoid other costly disposal measures. Post, Preston, Sachs (2002), use the following definition of the term "stakeholder": "A person, group or organization that has interest or concern in an organization. What is the power of the stakeholder? These groups can be described as: The manager of the Super Burrito Project is in the midst of an important project team meeting but Fred Fromage, the representative from the Cheese department, is nowhere to be found. Open systems are systems, of course, so inputs, processes, outputs, goals, assessment and evaluation, and learning are all important. They are also known as Secondary Stakeholders. a company will become distracted from its task to maximize profits when it practices social responsibility, Which of the following forms the base of Carroll's global corporate social responsibility pyramid? A. Philanthropic responsibility, Google made a pledge to investors when it went public to reserve 1% of its profit and equity to "make the world a better place." with regard to stakeholder engagement, using a Combined Assurance model, should form part of the governance process. STAKEHOLDER ENGAGEMENT PLAN KRUMOVGRAD GOLD PROJECT BULGARIA DECEMBER 2014 Glossary i GL O S S AR Y Consultation: The process of gathering information or advice from stakeholders and taking these views into account when making project decisions and/or setting targets and defining strategies. Aaron is a manager at a local live music venue. Which of the following is true about good theories? The technical side of project management emphasizes: __________ serves as an excellent training ground for future senior executives in most organizations. In considering a large-scale layoff, a manager performs a cost-benefit analysis and determines that profits will be greatest if she proceeds. Definition of External Stakeholders. 4. The Identify Stakeholders process has the following Outputs: • Stakeholder Register A document identifying all project stakeholder information, requirements, and classification ... stakeholder or stakeholder group. The purpose of a code of ethics is to state an organization's expectations for the behavior of all its external stakeholders. ________ forces are influences and trends originating in human relationships and values that may affect an organization. This makes Jack uncomfortable since he does not feel it is right, yet he worries about upsetting his boss. Define your purpose. Shareholders, community, employees, customers b. CEO & shareholders c. Landowners, taxpayers, shareholders d. None of these answers are true ANS: A 25. The task environment consists of groups that present workers with daily tasks to handle. split loyals sh External Stakeholders are those interested parties, who are not a part of the management, but they indirectly affected by the work of the company. Especially larger corporations have to care not only for the needs of their direct owners, but also of various other groups, like employees, public interest groups like environmental organizations, strategic partners, journalists or public monitoring bodies. To this company, OSHA represents a ______, part of an organizations' ______. Overlooking any important stakeholder can make the situation more difficult for you at later stages of the project. Instead, an external stakeholder is normally a person or organization affected by the operations of the business. When a company goes over the allowable limit of … Shareholder Approach . Stakeholder management is important for your project success. Only about a fifth of American managers reach which level of personal moral development? D. Focus groups. A __________ is a person or organization that helps another organization sell its goods and services to customers. Which of the following is an example of an external stakeholder for the department store chain Macy's? Control charts. In a corporation, the chief executive is typically elected by the stockholders of the firm. Far East Chop House is an American restaurant that purchases beef from a Nebraska company that raises Japanese cattle. Menu Home; Events; About; Donate; Contact Banks . Which statement about stakeholders is best? The ability to meet humanity’s needs without harming future generations is now a top priority in most corporate agenda ethics rules sustainability righteousness 2. Oh no! Scandals among CEOs who were eventually convicted of fraud. Stakeholders _____ are groups or individuals who have a claim in some aspect of a company's products, operations, markets, industry, and outcomes. Provision of the GRI Standards has been expanded to 12 languages, following publication of the Portuguese version. The University of Puhonicks hires several professors that specialize in accounting, management, and economics and clusters each into one of three departments. Realized. b. Jack is working overseas, and has been asked by a superior to present a government official with a cash payment in order to secure a contract. Ethical responsibility is at the top of Carroll's corporate social responsibility pyramid. Project management entails crossing __________ and __________ boundaries. This is an example of corporate, Omar is a human resources manager for a large landscaping and exterior construction company called Northwest Patios. Shareholders of Chesapeake Energy sued the company, demanding corporate governance reforms. functional managers. It may cause a delay in the project, cost overrun, and in the most severe cases, abrupt project termination. Standards of right and wrong that influence behavior are known as A. ethics. Internal stakeholders are employees or teams in your organization who have an interest or concern in a strategy, plan, program, project, product or process. A. Sociocultural, Which of the following is considered a demographic force? Answer • Question 6. True False. What is the interest level of the stakeholder? Distributors have been hurt by the rise in popularity of the Internet. Customers are those who pay to use an organization's goods or services. Integration of the European Union, An increase in multigenerational households. A. Internal stakeholders include the employees of an organization. The goal is to put you in the shoes of each type of stakeholder and see things from their point of view. Some of the shows have been so popular that tickets sell out quickly and regular patrons have complained that with a slow Internet connection they have no chance to purchase. In an effort to be fair to all prospective customers, Aaron is using what approach to ethical behavior? Answer • Question 7. The Sarbanes-Oxley Act of 2002 requires that a company's chief executive officer and chief financial officer must comply with which of the following? A Stakeholder Analysis is an approach that is frequently used to identify and investigate the Force Field formed by any group or individual who can affect or is affected by the achievement of the objectives of an organization. external stakeholders. Keith Monroe nails hundreds of pieces of culled lumber in the blazing July sun to form a parquet deck for his barn roof. D. Owners of Macy's stock. external environment . A. External and Internal Stakeholders of Financial Statements. Ans. External stakeholders may include external customers, government, contractors and subcontractors, and suppliers. Project management maturity models are NOT used to: ascertain all stakeholders relevant to a project in the conceptualization phase. those who pay to use an organizations services or buy their goods are called: customers. Illegal field practices by construction crews. A supplier is a person or an organization that provides materials or labor to consumers. What is ethics a. 4 stakeholders in an organisation is into three groups - internal, interface, and external stakeholders. In a project, there are both internal and external stakeholders. These parties are not directly involved in decision making and other business affairs and, therefore, may or may not be affected by the company’s decisions or operations. Which of the following is an example of an external stakeholder for the department store chain Macy's? He is developing a new online system for advance ticket sales. B. Dialogue: An exchange of views and opinions to explore different perspectives, needs You can start to devise a plan for communicating with your stakeholders once you've mapped them on a Power/Interest Grid, such as our interactive example here . 53. A. A supplier is an example of an external stakeholder. Most projects will have a _____ number of stakeholders. Differentiated Systematic Mechanistic Organic 2. Stakeholders can affect or be affected by the organization's actions, objectives and policies. suppliers and competitors are possible intervenors groups in a project. An ethical _________ represents employee's perceptions about the extent to which work environments support ethical behavior. 3. Today, all players in business face the interest and the impact of different people and groupings. Some of the … Figure 5.1: Project stakeholders. The LPO is a role within the ITD PMO that provides oversight and reporting of all information technology projects with budgets at or exceeding $250,000 ($500,000 beginning Aug. 1, 2013), as designated by NDCC 54-35-15.2, NDCC 54-59-05.7 & .8 and NDCC 54-59-23 and in accordance with STD009-05. e. 54. C. Identify stakeholders D. make sure all the stakeholders are in communication plan Explanation: Stakeholders are NOT in project plan. However, regulators, policy makers and legislators are also in this group. In this context, he would best be described as ______ of Facebook. ensuring that directors are clearly separated in their authority from the CEO. The level of personal moral development at which Eliza is operating is the ______ level according to Kohlberg. External stakeholders include government entities, the general public, community … A) project team members B) top management C) accountants D) environmental groups. Therefore, its quality depends on the accuracy of the user-created flash card sets. 2. Which of the following is an external stakeholder group? Stakeholder Communications. Issues like privacy, health and safety, and due process that are described as basic rights are typically tied to which of the following approaches to deciding ethical dilemmas? In this case, StubHub acts as a, Two organizations who join forces to achieve advantages neither can perform as well alone would be called, A large athletic shoe company has agreed to work with a smaller company that has a new line of athletic clothing since the bigger firm does not have a similar offering and the smaller firm has limited experience in marketing and distribution. Stakeholder Management is the process by which you identify your key stakeholders and win their support. ______ is the illegal buying or selling of a company's stock by people using confidential company information. 1 AA1000 Stakeholder Engagement Standard 2011, Accountability 2008 Cheating may be done as a way to redress perceived unfairness. Political-legal forces are changes in the economic, political, legal, and technological global system that may affect an organization. c. primarily front-line supervisors This is a The new translation will enable us to do more to support reporting organizations and stakeholders in Brazil, Portugal and other countries where Portuguese is an official language. Organizational management is largely influenced by the opinions and perspectives of internal and external stakeholders. ______ are in an organization's external task environment. Figure 2: Stakeholder identification perspectives Which of the following sparked renewed interest in corporate governance? Stakeholders of a socially responsible firm, such as customers and employees, might want the What arises because an organization cannot meet the needs of all its stakeholders at the same time? In some cases, the IRS financially rewards whistle-blowers. An open system is a system that regularly exchanges feedback with its external environment. Stuart runs an independent BP gas station in Louisiana and his business suffered from this consumer response. A moral-rights approach to ethical behavior taken by a manager would often result in her performing a "cost-benefit" analysis. Suppliers and customers are also significant external stakeholders. Which of the following is NOT a primary stakeholder group? Description. The Concept of Stakeholder Management. In fact, he works for an American carmaker. Which of the following is NOT part of stakeholder’s management? Which of the following statements about the mass media is true? Prior to its natural gas pipeline explosion, Pacific Gas and Electric (PG&E) had an incentive system that encouraged crews to find leaks, which led to steep increases in repair costs. They are groups to whom a firm has financial obligations. Ethical behavior is defined as a behavior that creates the greatest good for the greatest number of people. People who can claim an organization as their legal property are called. The economic integration of the European Union can best be considered part of the economic forces. In PMI-001 PMI-001 Post navigation ← Previous question. The first stage of this is to brainstorm who your stakeholders are. a. Use the following five steps to do so: 1. Demographic forces are part of the __________ environment of organizations, Employees at Zachary's Chicago Pizza in California can purchase company stock and thus become owners through a device called, The group important in setting the organization's overall strategic goals and for approving major decisions and salaries of top management is known as. The psychological mechanism of motivated blindness discourages cheating among students. Which of the following is believed to have contributed to the Pacific Gas and Electric natural gas pipeline explosion in 2010? Which of the following is true of 'stakeholders' A. C. Fishbone diagrams. 44) _____ are usually an organization's largest outside stakeholder group. The two parts of the external environment are the task environment and the socio-political environment. As an example, outside of business, you are a stakeholder in a family - your own, whether as a child, parent, or grandparent. 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