Concept explainers
To determine:
If it is appropriate for management to define some stake holders as more important than other and whether all stake holders should be considered as equally important.
Concept Introduction:
The individuals or groups that are likely to affect or be affected by a proposed action of the organization are called as stake holders. The systematic approach that defines the primary stake holders like employees, customers, share holders, environment, government etc and identifying such key members is referred to as stake holder mapping.
Management needs to look from different angles like their potential threat, their interest, the influencing factors etc so as to define the key stake holders.
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Chapter 4 Solutions
Understanding Management
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- The SituationYou work for a growing company, which thus far has operated only in the United States and Canada. Its board has just approve a plan to expand operations in two locations in the world whose local populations are overwhelmingly Hindu. The company management knows nothing about Hinduism, except perhaps for a few stereotypes. The company plans to hire most of its staff locally, so it needs basic information about Hinduism so that it can conduct advertising, human resources, and other aspects of its operations without offending cultural sensibilities.Your TaskYou work in the accounting department, but because you have a degree in religious studies, the companyâs management has asked you to prepare a brief report on certain aspects of Hinduism. It will use your report as the basis for determining a plan for further study. Your report, therefore, should be clear and specific about religion However, it need not and should not concern itself with details about how…arrow_forwardDiscuss the ethical challenge of working and ethical responsibilities in Organization, explain: The type of ethical challenge: Unrealistic and Conflicting Goals Why do 'Unrealistic and Conflicting Goals' become unethical What are your suggestions to resolve this ethical challengearrow_forwardhow is ethical leadership going to be affected by current and future challengesarrow_forward