BUSINESS AND ITS STAKEHOLDERS BOARD QUESTIONS WITH ANSWER
Table of Contents
VERY SHORT ANSWER QUESTIONS [ 2 MARKS]
1.2023 Fall Q. No. 3:
What do you mean by stakeholder coalitions?
Answer: Stakeholder coalitions are groups of people or organizations that join together because they have the same goals or interests, and they work together to influence a company.
2. 2023 Fall Q. No. 4:
How is CSR useful in the workplace?
Answer: CSR (Corporate Social Responsibility) helps businesses act in a responsible way towards society. It can improve the company’s image, make employees proud, and show the company cares about social issues.
3. 2023 Fall Q. No. 9:
What do you mean by conflict of interest?
Answer: A conflict of interest happens when someone’s personal interests or relationships might affect their decisions in a way that’s not fair or honest.
4. 2023 Spring Q. No. 4:
Construct a simple stakeholders map for a business.
Answer: A stakeholder map shows the different groups that affect or are affected by a business, like customers, employees, or the government. It helps the business understand who to focus on.
5. 2023 Spring Q. No. 5:
What do you understand by stakeholder coalitions?
Answer: Stakeholder coalitions are groups of people or organizations that join together because they have the same goals or interests, and they work together to influence a company.
6. 2022 Fall Q. No. 4:
Distinguish between market and non-market stakeholders of business.
Answer: Market stakeholders are people or organizations that directly deal with the business, like customers and suppliers. Non-market stakeholders are those who don’t directly deal with the business but still influence it, like the government or local community.
7. 2022 Fall Q. No. 5:
Describe the concept of making trade-offs.
Answer: Making trade-offs means choosing between two things, where getting one thing might mean losing something else. Businesses often have to make tough decisions like this.
8. 2022 Fall Q. No. 5:
When do stakeholders form coalitions?
Answer: Stakeholders come together in a coalition when they have the same concerns or goals and believe they can achieve more by working together.
9. 2022 Fall Q. No. 9:
Define the win-win situation between business and society.
Answer: A win-win situation happens when a business benefits and society benefits at the same time. For example, a company making a profit while also helping the community.
10. 2019 Spring Q. No. 1:
Define primary and secondary stakeholders.
Answer: Primary stakeholders are people directly involved with the business, like customers or employees. Secondary stakeholders are those affected by the business but not directly involved, like the media or local government.
11. 2019 Fall Q. No. 7:
What do you understand by stakeholder activism?
Answer: Stakeholder activism happens when a group of people (often customers or workers) take action to push a company to make changes, usually to be more socially or environmentally responsible.
12. 2018 Spring Q. No. 6:
What is a mixed-blessing stakeholder?
Answer: A mixed-blessing stakeholder is someone who can help or harm the business. For example, a community group that supports the business but also demands changes.
13. 2018 Fall Q. No. 6:
Distinguish between market and non-market stakeholders of business.
Answer: Market stakeholders are people or organizations that directly deal with the business, like customers and suppliers. Non-market stakeholders are those who don’t directly deal with the business but still influence it, like the government or local community.
14. 2017 Spring Q. No. 4:
What is stakeholder interest?
Answer: Stakeholder interest means what different groups want or expect from a business. A company needs to understand these interests to make good decisions.
15. 2017 Fall Q. No. 4:
How are primary stakeholders different from secondary stakeholders?
Answer: Primary stakeholders are people directly involved with the business, like customers or employees. Secondary stakeholders are those affected by the business but not directly involved, like the media or local government.
16. 2017 Fall Q. No. 10:
State four types of stakeholder powers.
Answer: The Four types of stakeholder powers are voting, Economic, Legal and Political power.
17. 2017 Fall Q. No. 4:
What is stakeholder coalition?
Answer: Stakeholder coalitions are groups of people or organizations that join together because they have the same goals or interests, and they work together to influence a company.
18. Describe internal and external stakeholders.
Answer: Internal stakeholders are those within the organization, such as employees and managers, while external stakeholders are outside the organization, like customers, suppliers, and regulators.
19. What is stakeholder activism?
Answer: Stakeholder activism happens when a group of people (often customers or workers) take action to push a company to make changes, usually to be more socially or environmentally responsible.
20. What do you understand by the term stakeholder interest?
Answer: Stakeholder interest means what different groups want or expect from a business. A company needs to understand these interests to make good decisions.
21. Shortly discuss about pressure group.
Answer: : A pressure group is an organized group that seeks to influence public policy or business practices on specific issues, often through advocacy or protests.
22. What is stakeholder activism?
Answer: Stakeholder activism happens when a group of people (often customers or workers) take action to push a company to make changes, usually to be more socially or environmentally responsible.
DESCRIPTIVE ANSWER QUESTIONS [10 MARKS]
23. 2023 Fall Q. No. 13:
How will you analyze the stakeholders if you are formulating new policies for your business? Click Here for Answer
24. 2023 Spring Q. No. 13:
Stakeholders’ analysis involves more than just identifying stakeholders. It involves understanding the nature of their interest, power, legitimacy, and coalitions among them. Elaborate this statement with suitable examples. Click Here for Answer
25. 2022 Fall Q. No. 13:
Managers should possess a sound knowledge on how to perform Stakeholders Analysis. Why? Explain the relationship between stakeholders’ interest and stakeholders’ power. Click Here for Answer
26. 2021 Spring Q. No. 13:
“Modern CSR Paradigm is all about creating a win-win situation between business and society.” Elucidate. Click Here for Answer
27. 2021 Spring Q. No. 14:
If you are planning to establish a business after completing your bachelor degree, how would you analyze the stakeholders? Click Here for Answer
28. 2020 Spring Q. No. 13:
“Stakeholder analysis involves more than simply identifying stakeholders; it also involves understanding the nature of their interests, power, legitimacy, and links with one another.” In the context of the above statement, explain stakeholder analysis with suitable examples. Click Here for Answer
29. 2020 Fall Q. No. 12:
Why is stakeholder analysis needed? Explain briefly incorporating stakeholder power, interest, coalitions, and activism. Click here for Answer
30. 2019 Fall Q. No. 13:
What is stakeholder analysis? Explain the relationship between stakeholders’ power and stakeholders’ interest. Click Here for Answer
31. 2019 Spring Q. No. 13:
What do you mean by a win-win situation between business and society? How can this situation be created? Click Here for Answer
32. 2018 Fall Q. No. 17:
Explain the elements of stakeholder analysis. Briefly discuss the methods of incorporating stakeholder power, interest, and coalitions. Click here for Answer
33. 2018 Fall Q. No. 12:
What do you mean by stakeholder management? Explain the steps of the stakeholder management cycle. Click Here for Answer
34. 2018 Spring Q. No. 15:
Explain the major stakeholders of a business. How are business firms responsible for them? Explain. Click Here for Answer
35. 2018 Spring Q. No. 11:
Explain the relationship between business and stakeholders with a suitable example. Click here for Answer
36. 2017 Spring Q. No. 14:
Discuss stakeholder analysis. How do you think key stakeholders’ issues can be managed? Click here for Answer
37. 2017 Spring Q. No. 13:
Who are the various stakeholders that shape any business? Briefly explain the four aspects of stakeholder analysis. Click here for Answer
38. 2016 Fall Q. No. 13:
Explain how you analyze the stakeholder’s interest, power, and coalitions. Click here for Answer