Stakeholder Categories Quiz chapter 2
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Questions and Answers

According to the Sustainable Business Management Stakeholder Theory, which category of stakeholders has the urgent need to have their claim addressed but lacks the power or support to make it happen?

  • Discretionary stakeholders
  • Dependent stakeholders
  • Demanding stakeholders (correct)
  • Dominant stakeholders

    • In the context of the Age of greed vs. Age of responsibility, what was the primary goal of executives during the Age of greed?

  • Minimizing financial profits
  • Maximizing social and environmental value
  • Minimizing losses for businesses and personal
  • Maximizing shareholder's and their own profit (correct)

    • According to the New Economic Concepts – Profit vs. Value, what is not taken into account in the classic economic theory's concept of value?

  • External effects
  • Social and environmental value (correct)
  • Financial value
  • Goods and services with incorrect prices

    • Based on the New Economic Concepts – Ecosystems, what do ecosystems drive to address rising social and environmental challenges?

    <p>New collaborations</p> Signup and view all the answers

    Which category of stakeholders has both the power and the support to have their claim addressed according to Sustainable Business Management Stakeholder Theory?

    <p>Dominant stakeholders</p> Signup and view all the answers

    In Sustainable Business Management Stakeholder Theory, who can decide how to deal with discretionary stakeholders?

    <p>$rac{8}{2} + 4$</p> Signup and view all the answers

    What is the main benefit of ecosystems according to the text?

    <p>They lead to sharing of ideas, concepts, expertise, and knowledge</p> Signup and view all the answers

    What is the goal of 'The Alliance to End Plastic Waste (AEPW)' as mentioned in the text?

    <p>To minimize and manage plastic waste</p> Signup and view all the answers

    What is necessary to address the global challenge of mismanaged plastic waste according to the text?

    <p>Collaboration of companies and organizations</p> Signup and view all the answers

    What is the main focus of 'The Alliance to End Plastic Waste (AEPW)' according to the text?

    <p>Promoting post-use solutions for plastic waste</p> Signup and view all the answers

    According to the text, what is a key feature of ecosystems?

    <p>They accelerate learning and innovation</p> Signup and view all the answers

    Which of the following is NOT a limitation of the GDP as mentioned in the text?

    <p>The GDP accounts for external effects</p> Signup and view all the answers

    What does the economic flow model fail to take into account according to the text?

    <p>Where the resources needed for economic flows come from</p> Signup and view all the answers

    What is the main focus of the Stakeholder Theory as per the text?

    <p>Balancing the interests of different stakeholder groups</p> Signup and view all the answers

    Why is economic growth considered shortsighted as per the text?

    <p>It only focuses on GDP growth and not sustainable welfare</p> Signup and view all the answers

    What is a reason given in the text for the GDP growth being a self-fulfilling prophecy?

    <p>All economic decisions are made based on this expectation</p> Signup and view all the answers

    What is a key aspect that the economic flow model neglects, according to the text?

    <p>The source of resources needed for money flows</p> Signup and view all the answers

    According to the text, what doesn't the GDP measure about a country's economy?

    <p>Happiness and well-being of citizens</p> Signup and view all the answers

    What is NOT considered when calculating the GDP per capita as per the text?

    <p>The total number of public goods available</p> Signup and view all the answers

    What is the primary focus of sustainability as described in the text?

    <p>Balancing profit with consideration for people and planet</p> Signup and view all the answers

    What does the traditional economic circular flow model aim to represent?

    <p>An oversimplified version of the economy for exact science</p> Signup and view all the answers

    What is still considered as the number one parameter to determine the wealth of a country according to the text?

    <p>GDP per capita</p> Signup and view all the answers

    What is the main flaw of the economic circular flow model as per the text?

    <p>It neglects numerous parameters and is far from reality</p> Signup and view all the answers

    What do stakeholders in Sustainable Business Management aim to do?

    <p>Do business without harming stakeholders</p> Signup and view all the answers

    What is still commonly used to measure the wealth of a country despite its shortcomings according to the text?

    <p>GDP per capita</p> Signup and view all the answers

    What is the primary focus of 'The Alliance to End Plastic Waste (AEPW)' as mentioned in the text?

    <p>Addressing mismanaged plastic waste globally</p> Signup and view all the answers

    'The Economic Dimension of Sustainability' includes which of the following according to the text?

    <p>'Value creation' instead of profit creation</p> Signup and view all the answers

    What do financial markets and institutions primarily do according to the traditional economic circular flow model?

    <p>'Provide loans' and invest in businesses</p> Signup and view all the answers

    What is considered as important as the ecological and social dimensions in sustainability according to the text?

    <p>Balancing economic, social, and ecological dimensions</p> Signup and view all the answers

    What is the primary focus of sustainability as described in the text?

    <p>Balancing economic, ecological, and social dimensions</p> Signup and view all the answers

    What is still commonly used to measure the wealth of a country despite its shortcomings according to the text?

    <p>Gross Domestic Product (GDP)</p> Signup and view all the answers

    What is a key aspect that the economic flow model neglects, according to the text?

    <p>The ecological and social dimensions</p> Signup and view all the answers

    Why is economic growth considered shortsighted as per the text?

    <p>It leads to environmental degradation</p> Signup and view all the answers

    What is NOT a limitation of the GDP as mentioned in the text?

    <p>Overemphasizes social well-being</p> Signup and view all the answers

    What is considered as important as the ecological and social dimensions in sustainability according to the text?

    <p>Value creation</p> Signup and view all the answers

    What do financial markets and institutions primarily do according to the traditional economic circular flow model?

    <p>Provide loans and invest in businesses</p> Signup and view all the answers

    'The Economic Dimension of Sustainability' includes which of the following according to the text?

    <p>People, Planet, Profit</p> Signup and view all the answers

    'The Alliance to End Plastic Waste (AEPW)' primarily aims to:

    <p>Reduce plastic waste in ecosystems</p> Signup and view all the answers

    What is still considered as the number one parameter to determine the wealth of a country according to the text?

    <p>Gross Domestic Product (GDP)</p> Signup and view all the answers

    What does the traditional economic circular flow model fail to take into account?

    <p>Where the resources are coming from</p> Signup and view all the answers

    What is the main flaw of using GDP growth as the sole parameter to determine the welfare of a country?

    <p>It doesn't measure happiness</p> Signup and view all the answers

    According to the text, what is not considered when calculating the GDP per capita?

    <p>The inequality in the society</p> Signup and view all the answers

    What is still commonly used to measure the wealth of a country despite its shortcomings according to the text?

    <p>GDP per capita</p> Signup and view all the answers

    What is necessary to address the global challenge of mismanaged plastic waste according to the text?

    <p>Taxing products to lower consumption and production</p> Signup and view all the answers

    What is the primary benefit of ecosystems according to the text?

    <p>Bringing people together to share ideas and expertise</p> Signup and view all the answers

    What is the main focus of 'The Alliance to End Plastic Waste (AEPW)' according to the text?

    <p>Promoting post-use solutions for plastic waste</p> Signup and view all the answers

    What do ecosystems drive to address rising social and environmental challenges according to the text?

    <p>Collaborative efforts of companies and organizations</p> Signup and view all the answers

    What does the traditional economic circular flow model fail to take into account according to the text?

    <p>The ecological and social dimensions of sustainability</p> Signup and view all the answers

    What is the main flaw of the economic circular flow model as per the text?

    <p>Ignoring the ecological and social dimensions of sustainability</p> Signup and view all the answers

    What is still considered as the number one parameter to determine the wealth of a country according to the text?

    <p>Gross Domestic Product (GDP)</p> Signup and view all the answers

    'The Economic Dimension of Sustainability' includes which of the following according to the text?

    <p>Environmental conservation efforts</p> Signup and view all the answers

    'The Alliance to End Plastic Waste (AEPW)' aims to address the global challenge of mismanaged plastic waste through:

    <p>$1.0 billion investment in minimizing and managing plastic waste</p> Signup and view all the answers

    What is the key feature of stakeholders in the context of Sustainable Business Management?

    <p>They primarily focus on social and environmental value</p> Signup and view all the answers

    What is a common feature of ecosystems as mentioned in the text?

    <p>Ecosystems often exist on powerful new business platforms</p> Signup and view all the answers

    In Sustainable Business Management Stakeholder Theory, which category of stakeholders has the urgent need to have their claim addressed but lacks the power or support to make it happen?

    <p>Demanding stakeholders</p> Signup and view all the answers

    What is NOT considered when calculating the GDP per capita according to the text?

    <p>Social and environmental value</p> Signup and view all the answers

    What was the primary goal of executives during the 'Age of greed' as per the text?

    <p>Maximizing shareholder profit</p> Signup and view all the answers

    What do ecosystems drive to address rising social and environmental challenges according to the text?

    <p>New collaborations between different actors</p> Signup and view all the answers

    Which category of stakeholders attains both power and support to have their claim addressed according to Sustainable Business Management Stakeholder Theory?

    <p>Definitive stakeholders</p> Signup and view all the answers

    What is considered as important as the ecological and social dimensions in sustainability according to the text?

    <p>Value creation</p> Signup and view all the answers

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