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Global Business CH 2

a public issue exists when there is agreement between the stakeholders expectations of what a business firm should do and the actual performance of that business
emerging public issues are both a risk and an opportunity
understanding and responding to changing societal expectations is business necessity
because the public issues that garner the most public attention change over time, companies do not waste time tracking them
organizations always have full control of a public issues
environmental analysis is a method managers use to gather information about external issues and trends
environmental intelligence is the acquisition of information gained from analyzing the multiple environment affecting organizations
legal environment includes the structure process and ations of government at the local state national and international
competitive intelligence enables managers in companies of all sixes to make informed decisions in all areas of the business
stakeholder materially is a method companies use to prioritize the relevance of the stakeholders and their issues
in the issue management process, identify the issue involves anticipation emerging issues
financially sound companies do not need to understand how a public issue is likely to evolve or how it will affect them
for stakeholders engagement to occur both the business and the stakeholder must be motivated to work with one another to solve the problem
dialogue between a single firm and its stakeholders is always sufficient to address an issue effectively
companies are learning that it is important to take a strategic approach to the management of public issues both domestically and globally
public issues are also sometimes refereed to as
both a and b
the emergence of a public issue indicates that
a gap has developed between what stakeholders expect and what an organization is actually doing
failure to understand the beliefs and expectations of stakeholders
cause the performance- expectation gap to grow larger
because of the risks and opportunities public issues present organizations need
a systematic way of identifying monitoring and selecting public issues
customer environmental intelligence include
demographic factors
according to management scholar Karl, scanning to aquire environmental intelligence should focus on
eight strategic radar screens
the explosive use of social media is an example of
customer envirment
an analysis of the stability or instability of a government is an example of scanning the
political enviorment
legal environmental intelligence inclued
consideration of patents copyrights or trademarks
the role of special interests groups is an important element in acquiring intelligence from the
social environment
the relevance and importance of stakeholders and their issues is known as
stakeholder materiality
the issues management process is a
systematic process companies use when responding to public issues that are of greats importance to the business
the issue management process has how many stages
the components of a typical issue management process include
all of the above
once an issue has been identifies it implications must be
an issues public profile indicated managers
how significant an issue is for the organization but doesnt not tell them what to do
once an organization has implemented the issue management program, it must
study the results and make necessary
when working well the issue management process
continuously cycles back the beginning and repeats
contemporary issues management
is an interactive forward thinking process
a leadership role in addressing emerging management issues is often taken by
all of the above
a corporation issue management activities are usually linked to
both the board of directors and top management levels
over time the nature of business relationship with its stakeholders often
evolve through a series of stages
firms that believe they can make decisions unilaterally without taking into consideration their impact on others are
interactive companies
firms that generally act only when forced to do so and then in a defensive manner are
reactive companies
proactive companies are
much less likely to be blindsided by crises and negative suprises
stakeholders engagement is
the process of ongoing relationship building between business and its stakeholders
stakeholders engagement is at its core a
the drivers of stakeholder of engagement are
goals motivation and operational capacity

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