Question

1. _______________is an integrative approach to managing a diverse set of stakeholders effectively in order to gain and sustain competitive advantage.

   		External Stakeholder
   		Internal Stakeholder
   		Stakeholder strategy
   		Strategy analysis

1. Companies that are customer -oriented vision are:

   		Can easily adapt to changing environments
   		Tends to be less flexible and thus more likely to fail
   		Defines a business in terms of providing solutions to customers’ needs
   		All of the above

1. A conceptual framework that views organizational outcomes-strategic choices and performance levels as reflections of the values of the members of the top management team is_________________.

1. Sociocultural factors do not capture a society’s cultures, norms, and values.

   True

   False

Answer 1

1) Stakeholder strategy

Stakeholder strategy focuses on managing the internal and external stakeholders of the firm. It is an approach used to manage how they approach the firm.

2) Defines a business in terms of providing solutions to customers’ needs

Customer oriented vision focuses at solving the problems of the customers. They are considered to be more flexible.

3) Upper Echelons Theory

It indicates that the outcomes of the organization can be predicted by the working managers of the top level of the firm. It was published in 1984.

4) False

Sociocultural factors are based upon the cultural, norms and values of the people living in society. It includes taste and preferences of people.

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