Managing Stakeholder Relationships

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What is the main reason for managing stakeholder relationships according to the text?

To increase organizational profits

To reduce employee turnover

To decrease external stakeholder involvement

To improve organizational performance (correct)

Why is it important to identify the organization's external stakeholders?

To increase shareholder profits

To exclude them from decision-making processes

To determine their interests and concerns (correct)

To reduce the number of stakeholders

What plays a key role in determining how to manage individual external stakeholder relationships?

Employee turnover rate

Union influence

The organization's culture (correct)

Number of competitors

What is a crucial element in managing stakeholder relationships effectively?

Recognizing the importance of each external stakeholder Signup and view all the answers

How does managing stakeholder relationships contribute to organizational success based on the text?

By improving organizational performance Signup and view all the answers

What are the external constraints that can affect an organization's performance?

Forces and institutions outside the organization Signup and view all the answers

Which of the following is considered part of the specific environment affecting an organization?

Public pressure groups Signup and view all the answers

What does the general environment of an organization encompass?

Economic and political conditions Signup and view all the answers

Which of the following is NOT a component of the general environment?

Customers Signup and view all the answers

How do political/legal conditions in the external environment affect an organization?

By changing attitudes of elected officials towards business Signup and view all the answers

What is one way in which changes in technology can affect an organization?

By impacting the changes occurring in technology Signup and view all the answers

What is the main challenge for managers in balancing work demand during a global recession?

Creating and managing flexible work arrangements Signup and view all the answers

In the context of environmental uncertainty, what does 'complexity of the environment' refer to?

The number of components in an organization's external environment Signup and view all the answers

Why is it important for managers to manage stakeholder relationships?

To handle constituencies affected by the organization's decisions Signup and view all the answers

What does environmental uncertainty refer to?

The extent to which managers can predict change in the external environment Signup and view all the answers

How does the degree of change in environmental components affect managers?

It affects managerial ability to predict change Signup and view all the answers

What is a key characteristic of strong cultures?

Values are deeply held and widely held Signup and view all the answers

Which of the following is NOT a benefit of a strong culture?

Decreasing employee initiative Signup and view all the answers

How do employees learn about culture through stories?

Through narratives of significant events or actions that convey the spirit of the organization Signup and view all the answers

Which activity expresses and reinforces organizational values through repetitive sequences?

Rituals Signup and view all the answers

What type of employees should organizations hire to create a customer-responsive culture?

Caring and conscientious employees Signup and view all the answers

What characteristic is essential in creating an innovative culture according to the text?

Playfulness and humor Signup and view all the answers

What does organizational culture determine to a large degree?

How organizational members act toward each other Signup and view all the answers

Which of the following is NOT a dimension of organizational culture mentioned in the text?

Customer Satisfaction Signup and view all the answers

What is one of the sources of organizational culture mentioned in the text?

Past practices of the organization Signup and view all the answers

Which factor helps in the continuation of organizational culture?

Socialization of new employees to help them adapt Signup and view all the answers

In what way does organizational culture impact management decisions?

By emphasizing maintaining the status quo Signup and view all the answers

Which dimension of organizational culture focuses on how managers view outcomes and results?

Outcome Orientation Signup and view all the answers