MGMT 430 with correct answers 2025

MGMT 430 with correct answers 2025



Businessv-vcorrect-answersv-
Anyvorganizationvthatvisvengagedvinvmakingvavproductvorvprovidingvavservicevforvavprofit



Societyv-vcorrect-answersv-Humanvbeingsvandvthevsocialvstructuresvtheyvcollectivelyvcreate



Interdependentv-vcorrect-answersv-Businessvandvsocietyvarevhighlyv_________________



GeneralvSystemsvTheoryv(GST)v-vcorrect-answersv-
Theoryvpositsvthatvorganismsvcannotvbevunderstoodvinvisolation,vevenvthoughvtheyvhavevclearvbou
ndaries;vtheyvcanvonlyvbevunderstoodvinvrelationshipvtovtheirvsurroundings;vintroducedvinvthev194
0s,vbiological



ManagementvTheoryv-vcorrect-answersv-
Adaptedvtov_____________vmeansvthatvbusinessvfirmsvarevembeddedvinvavbroadervsocialvenviron
mentvwithvwhichvtheyvconstantlyvinteract

-Businessvandvsocietyvtogethervformvanvinteractivevsocialvsystem

,OwnershipvTheoryvofvthevFirmv(Property/FinancevTheory)v-vcorrect-answersv--
Thevfirmvisvseenvasvthevpropertyvofvitsvownersv(shareholders)

-Arguesvthevowners'vinterestsvarevparamountvandvtakevprecedencevovervthevinterestsvofvothers

-Thevpurposevofvthevfirmvisvtovmaximizevitsvlong-
termvmarketvvalue,vthatvis,vtovmakevthevmostvmoneyvitvcanvforvshareholders



StakeholdervTheoryvofvthevFirmv-vcorrect-answersv--
Arguesvthevcorporationvservesvavbroadervpurpose,vtovcreatevvaluevforvsociety

-Mustvmakevprofitvforvownersvtovsurvive,vhowever,vcreatesvothervkindsvofvvaluevtoo

-Corporationsvhavevmultiplevobligations,vallv"stakeholder"vgroupsvmustvbevtakenvintovaccount



-Descriptive

v -Morevrealisticvdescriptionvofvhowvcompaniesvreallyvwork

-Instrumental

v -Moreveffectivevcorporatevstrategyv

-Normative

-Stakeholdervmanagementvisvthevrightvthingvtovdov-vcorrect-answersv-
v


Whatvarevthevcorevargumentsvforvthevstakeholdervtheoryvofvthevfirm?



ThevStakeholdervConceptv-vcorrect-answersv--
Avstakeholdervrefersvtovpersonsvorvgroupsvthatvaffect,vorvarevaffectedvby,vanvorganization'svdecision
s,vpolicies,vandvoperations

-Avstakevisvanvinterestvin-orvclaimvon-avbusinessventerprise

-Businessesvarevembeddedvinvnetworksvthatvinvolvevmanyvgroupsvwithvsuchvavstake



Stockholder(s)v-vcorrect-answersv--TermvstakeholdervisvNOTvthevsamevasv_____________

WordsvsoundvsimilarvBUTvarevnotvthevsame

-____________varevonevofvseveralvkindsvofvstakeholders

,-MarketvStakeholders

-NonmarketvStakeholdersv-vcorrect-answersv-
Stakeholdervgroupsvcanvbevdividedvintovtwovcategories:



MarketvStakeholdersv-vcorrect-answersv-
thosevthatvengagevinveconomicvtransactionsvwithvthevcompanyvasvitvcarriesvoutvitsvprimaryvpurpos
evofvprovidingvsocietyvwithvgoodsvandvservices



NonmarketvStakeholdersv-vcorrect-answersv-peoplevorvgroupsvwho—
althoughvtheyvdovnotvengagevinvdirectveconomicvexchangevwithvthevfirm—
arevaffectedvbyvorvcanvaffectvitsvactions



InternalvStakeholdersv-vcorrect-answersv-
______________varevthose,vsuchvasvemployeesvandvmanagers,vwhovarevemployedvbyvthevfirmv

-
Theyvarev"inside"vthevfirm,vinvthevsensevthatvtheyvcontributevtheirveffortvandvskill,vusuallyvatvavcom
panyvworksite



ExternalvStakeholdersv-vcorrect-answersv-_______________varevthosevwho—
althoughvtheyvmayvhavevimportantvtransactionsvwithvthevfirm—arevnotvdirectlyvemployedvbyvit



-Employees

-Managersv-vcorrect-answersv-ExamplesvofvMarketvandvInternalvStakeholders:



-Stockholders

-Customers

-Creditors

-Suppliers

, -WholesalersvandvRetailersv-vcorrect-answersv-ExamplesvofvMarketvandvExternalvStakeholders:



-Governments

-Communities

-NongovernmentalvOrganizations

-BusinessvSupportvGroups

-Media

-Competitorsv-vcorrect-answersv-ExamplesvofvNonmarketvandvExternalvStakeholders:



StakeholdervAnalysisv-vcorrect-answersv--Itvisvpartvofveveryvmanager'svjobv

-Processvwherebyvidentifyvrelevantvstakeholdersvandvanalyzevtheirvinterestvandvpowerv

-Asksv4vquestions:

v -Whovarevthevrelevantvstakeholders?

v -Whatvarevthevinterestsvofveachvstakeholder?

v -Whatvisvthevpowervofveachvstakeholder?

v -Howvarevcoalitionsvlikelyvtovform?



-Answervthisvquestionvbyvdrawingvmarketvandvnonmarketvstakeholdervmaps

-Recognizevthatvnotvallvofvgroupsvarevrelevantvtoveveryvsituation

v -Examples:v

v -Somevbusinessesvsellvdirectlyvtovthevpublicvandvwillvnotvhavevretailers

-Avcertainvstakeholdervmayvnotvbevrelevantvtovavparticularvdecision/actionv-vcorrect-answersv-
v


Whovarevthevrelevantvstakeholders?



-Analyzingvstakeholdervinterestsvincludesvaddressing:

v -Whatvarevthevgroups'vconcerns?