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1.4 Stakeholders - Question bank

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  • 1.4 Stakeholders - Question bank

Unit 1.4 Stakeholders - Question bank

Test your understanding of this topic in the IB Business Management syllabus by answering these questions. This is a "dynamic quiz", so feel free to revisit this page regularly as the questions are updated each time you take this quiz.

Fill in the missing parts in the following text:

  - The group of senior managers who run a company on behalf of the owners of the company.

 

Which term describes the method of stakeholder conflict resolution by helping different parties in a dispute to better understand each other’s interests?

Conciliation is the method of stakeholder conflict resolution which aims to align the incompatible interests of different stakeholder groups by helping different parties to better understand each other’s interests.

Fill in the missing parts in the following text:

  - The people or organizations that have shares in a company. Their interest is financial, i.e. regular dividends and a higher share price.

 

Which stakeholder group provides other businesses with stocks of raw materials, components and finished goods?

Suppliers provide other firms with stocks of raw materials, components and finished goods.

Which of the following is most likely to be internal stakeholders of a privately held company?

Shareholders of a privately held company are the owners, so are classified as internal stakeholders.

Which stakeholder group consists of individuals and/or organizations with an investment interest in a particular business?

Shareholders invest capital in the company that they co-own with other shareholders.

Which stakeholders would be most interested in a company’s profit as it affects their dividends and the share value of the company?

Stockholders are the shareholders of a company, so are interested in the potential dividend payments.

Fill in the missing parts in the following text:

  - Method of stakeholder conflict resolution which aims to align the incompatible interests of different stakeholder groups by helping different parties to better understand each other’s interests.

 

Fill in the missing parts in the following text:

  - The people hired to be responsible for overseeing certain functions, operations or departments within an organization.

 

Which of the following groups is not an external stakeholder for an organization?

Directors are internal stakeholders, not external stakeholders.

Which of the following is not an internal stakeholder group for an organization?

Customers are an external stakeholder group.

What is the term used to describe an individual or organization directly affected by the operations of a business?

Shareholders, stockholders and suppliers are all examples of stakeholders.

Which group’s main interest is the pay and working conditions of their worker members of an organization?

Trade unions (labour unions) negotiate with employer representatives, with the aim to uphold the pay and working conditions of their members.

Which term describes the method of stakeholder conflict resolution with all concerned stakeholder groups agreeing to accept the decision or judgment of an independent judge?

Arbitration is the method of stakeholder conflict resolution with all stakeholder groups in conflict agreeing to accept the decision or judgment of the independent arbitrator (or judge).

Which stakeholder group owns part of a company and is interested in its financial performance?

Shareholders are the (part)owners of a company.

Which stakeholder group is interested in how much of their good or service can be provided to other businesses and when they will be paid by these business customers?

Suppliers provide their goods and/or services to other businesses.

Fill in the missing parts in the following text:

  - The individuals, organizations or groups with a vested interest in the actions and outcomes of a specific organization. They are directly affected by the performance of the business.

 

Which stakeholders represent a firm’s senior managers who run a company on behalf of the owners of the business?

Directors are the group of senior managers who run a company on behalf of the owners of the company.

Which stakeholders represent a firm’s clients, consisting of individuals and other businesses that purchase the organization’s goods and/or services?

Customers are an external stakeholder group consisting of a firm’s clients, individuals and other businesses, that purchase the organization’s goods and/or services.

Which internal stakeholder group is employed by a business?

Managers are hired by the organization, so are internal stakeholders.

Total Score:

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