Stakeholder Management and Corporate Social Responsibility Quiz

Stakeholder management primarily focuses on maximizing profits for stockholders

Legitimacy refers to the justifiable right of a group to make a claim

Stakeholder/responsibility perspective only considers financial concerns of a firm

Accelerate progress and impact on the SDGs by 2030

Sanda Ojiambo is the CEO of the UN Global Compact

The private sector appeal will be presented at the ninth session of the Conference of the States Parties to the UNCAC

Guiding companies on where to make the biggest, fastest impact before 2030 is the main focus of the new strategy

Sanda Ojiambo is the Chief Responsibility Officer and Global Sustainability Services Lead at Accenture

The private sector appeal will be presented at the tenth session of the Conference of the States Parties to the UNCAC

Stakeholder Management and Corporate Social Responsibility

Stakeholder concept personalizes social responsibilities for businesses
"Stakeholder" term replaces "stockholder" to encompass groups with a stake or claim in firm's operations
Management faces the challenge of deciding which stakeholders merit consideration in decision-making process
Two vital criteria for considering stakeholders: legitimacy and power
Legitimacy refers to the justifiable right of a group to make a claim
Stakeholder power varies, with institutional investors and large mutual fund groups holding significant power
Stakeholder management is a process to reconcile managers' objectives with claims and expectations of various stakeholder groups
Functions of stakeholder management include description, understanding, analysis, and management
Five major questions for stakeholder management: stakeholders, their stakes, opportunities and challenges, corporate social responsibilities, and strategies
Stakeholder/responsibility matrix is presented as an analytical tool to organize a manager's thoughts and ideas
Thinking in stakeholder-responsibility terms increases the complexity of decision making and may be time-consuming
Stakeholder/responsibility perspective provides an opportunity for an in-depth corporate appraisal of financial as well as social and economic concerns

Test your knowledge of stakeholder management and corporate social responsibility with this quiz. Explore the concept of stakeholders, their legitimacy and power, and the challenges of reconciling various stakeholders' claims and expectations with managerial objectives. Delve into the functions of stakeholder management and the complexities of decision-making from a stakeholder-responsibility perspective.