ADM 1301 Chapter Notes - Chapter 3: Stakeholder Theory, Crisis Management
19 Apr 2016
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Document Summary
A systemic process by which the corporation can identify, evaluate, and respond to those economic, social, and environmental issues that may impact significantly upon the company. The process: identification of issues, analysis of issues, ranking or prioritizing of issues, formulating issue response, implementing issue response, monitoring and evaluating issue response. When analyzing issues of an industry you must look at every aspect of it (macro); Prioritizing issues: what is the impact on my business. Stakeholder: an individual or group who can influence/ and or is influenced by the achievement of an organizations purpose. This chapter defines and identifies the stakeholders in the business system and describes the management of issues that arise in the system. A stakeholder is an individual that has some share or interest or stake in the business system and the activities of corporations. Here are several examples of possible stakeholders: owners directors o o o o o o o o.
