BUS 100 Final Exam with Verified
Answers
boundary-spanning department - ✔✔departments within an organization that reach across the
dividing line that separates the company from groups and people in society.
business - ✔✔the most dominant institution in the world.
external stakeholder - ✔✔a stakeholder that is not directly involved with the company. Ex.
Government.
focal organization - ✔✔the main/relevant business whose perspective the analysis is from.
general systems theory - ✔✔argues all organisms are open to and interact with their external
environments.
interactive social system - ✔✔systems theorys help us understand how business and society
from an interactive social system.
internal stakeholder - ✔✔a stakeholder that is directly involved with the company. Ex.
Employee.
ownership theory of the firm - ✔✔the business is seen as property of the owners. The purpose
is to maximize long-term market value.
society - ✔✔refers to human beings and the social structures they colletively create.
, stakeholder - ✔✔"a person or group that affect, or are affected by a companies decisions,
policies, and operations. "
stakeholder analysis - ✔✔to identify relevant stakeholders and understand their intesrets and
power
stakeholder coalitions - ✔✔temporary alliance that pursues a common interest.
stakeholder (market) - ✔✔stakeholders that engage in economic transaction with the company.
stakeholder (nonmarket) - ✔✔stakeholders that do not engage in economic transaction with
the company.
stakeholder map - ✔✔map that represents the relationship of stakeholders. x = position y=
saliance.
stakeholder power - ✔✔stakeholders ability to use resources to secure a desired outcome.
salience - ✔✔"measure of power, legitmacy, and urgency. "
stakeholder theory of the firm - ✔✔corporations serve a broad public purpose: to create value
for society.
competitive intelligence - ✔✔understanding competition
environmental analysis - ✔✔method managers use to gather information about external issues
and trends to develop a strategy that minimizes threat.
Answers
boundary-spanning department - ✔✔departments within an organization that reach across the
dividing line that separates the company from groups and people in society.
business - ✔✔the most dominant institution in the world.
external stakeholder - ✔✔a stakeholder that is not directly involved with the company. Ex.
Government.
focal organization - ✔✔the main/relevant business whose perspective the analysis is from.
general systems theory - ✔✔argues all organisms are open to and interact with their external
environments.
interactive social system - ✔✔systems theorys help us understand how business and society
from an interactive social system.
internal stakeholder - ✔✔a stakeholder that is directly involved with the company. Ex.
Employee.
ownership theory of the firm - ✔✔the business is seen as property of the owners. The purpose
is to maximize long-term market value.
society - ✔✔refers to human beings and the social structures they colletively create.
, stakeholder - ✔✔"a person or group that affect, or are affected by a companies decisions,
policies, and operations. "
stakeholder analysis - ✔✔to identify relevant stakeholders and understand their intesrets and
power
stakeholder coalitions - ✔✔temporary alliance that pursues a common interest.
stakeholder (market) - ✔✔stakeholders that engage in economic transaction with the company.
stakeholder (nonmarket) - ✔✔stakeholders that do not engage in economic transaction with
the company.
stakeholder map - ✔✔map that represents the relationship of stakeholders. x = position y=
saliance.
stakeholder power - ✔✔stakeholders ability to use resources to secure a desired outcome.
salience - ✔✔"measure of power, legitmacy, and urgency. "
stakeholder theory of the firm - ✔✔corporations serve a broad public purpose: to create value
for society.
competitive intelligence - ✔✔understanding competition
environmental analysis - ✔✔method managers use to gather information about external issues
and trends to develop a strategy that minimizes threat.
