Question 1

The power of stakeholders has risen over the years.

Accepted Answer

With the growing importance of corporate social responsibility and increased transparency, stakeholders have become more vocal and influential in shaping the policies and actions of organizations. As a result, their power has risen significantly in recent years.

Question 2

A/n _______is a major unexpected event that has a large negative consequence.

Accepted Answer

A crisis is defined as a major unexpected event with potential negative consequences. This could include natural disasters, economic downturns, or other unforeseen events that impact organizations or society as a whole. None of the other choices specifically address this definition.

Question 3

Which of the following is not true of crisis communication?

Accepted Answer

Option C states that managers usually have hours or even days to contain a crisis, which is not true as often a company may have only minutes to contain a crisis. The remaining options are all true about crisis communication.

Question 4

What are the 5 I's of strategic analysis, in proper sequence?

Accepted Answer

The 5 I's of strategic analysis, in proper sequence are:

1) Issue identification
2) Interested strategic stakeholders
3) Incentive of stakeholders
4) Information-objectives
5) Interaction strategies

Option B is the only one that follows this sequence. Option A has "interaction strategies" before "interested strategic stakeholders," and Option D has "incentive of stakeholders" before "interested strategic stakeholders." Option C includes "integrate market and nonmarket strategies," which is not one of the 5 I's of strategic analysis. Therefore, Option B is the correct answer.

Question 5

Through a/n __________ process, individuals develop and use critical thinking skills to analyze business issues and make better decisions for their personal and professional lives.

Accepted Answer

Strategic analysis is a process that involves analyzing business issues and making decisions based on critical thinking skills. It helps individuals to make better decisions for their personal and professional lives by providing a structured approach for assessing the strengths, weaknesses, opportunities, and threats associated with a particular situation. Therefore, option A is the best choice. The other options - default planning, probationary, identification, and SWOT - do not accurately describe the process mentioned in the question.

Question 6

Which of the following is not an element of determining the incentives of stakeholders?

Accepted Answer

The age of majority stakeholder is not relevant in determining their incentives. Legitimacy, power, urgency, and likelihood of stakeholder action are all important factors to consider when determining the incentives of stakeholders.

Question 7

Which of the following are true about public affairs activities?

Accepted Answer

Public affairs activities focus on how businesses interact with their stakeholders, emphasizing the importance of ethical behavior in these interactions and the management of firm-stakeholder relationships. Unethical behavior in public affairs should be reported, often through whistleblowing.

Question 8

Which of the following could be considered Public Affairs statements?

Accepted Answer

The answer of Which of the following could be considered...

Question 9

What are the three phases of issues management?

Accepted Answer

The three phases of issues management are: scanning the environment to identify issues (A), evaluating and prioritizing issues based on their impact (D), and conducting strategic analysis to develop strategies for high-priority issues (E).

Question 10

Which of the following would be stages of crisis management?

Accepted Answer

These are all stages of crisis management.

Question 11

Which of the following would be an "A" of communication during a crisis?

Accepted Answer

The answer of Which of the following would be an...

Question 12

What are included in the I's of strategic analysis?

Accepted Answer

The answer of What are included in the I's of...

Question 13

Which statements about the issue life-cycle stages with the strategic focus for each stage are correct?

Accepted Answer

A) Identification and formation of the issue and public sentiment. At this stage, the focus is on identifying the issue and assessing public sentiment towards it.

B) Interested stakeholder formation. The focus at this stage is on identifying and engaging with stakeholders who are interested in the issue.

C) Issue brought to business for voluntary action. During this stage, the focus is on encouraging businesses to take voluntary action to address the issue.

D) Legislative and Congressional formation. At this stage, the focus shifts towards legislative and congressional action to address the issue.

E) Enforcement and litigation. The final stage involves enforcement and litigation efforts to ensure that the issue is properly addressed.

Question 14

Identify six options for starting a new venture.

Accepted Answer

The answer of Identify six options for starting a new...

Question 15

Describe three ways in which an entrepreneur can obtain existing businesses.

Accepted Answer

The answer of Describe three ways in which an entrepreneur...

Question 16

Discuss three ways of assessing value to a business.

Accepted Answer

The answer of Discuss three ways of assessing value to...

Question 17

Discuss the main advantages and disadvantages of franchising.

Accepted Answer

The answer of Discuss the main advantages and disadvantages of...

Question 18

Identify and describe two types of franchising.

Accepted Answer

The answer of Identify and describe two types of franchising....

Question 19

Who does the textbook indicate would be a good choice to head a crisis management team?

Accepted Answer

The CEO is typically seen as a strong leader with the authority and comprehensive understanding of the organization needed to effectively manage a crisis.

Question 20

_________ is a public affairs management approach to identifying, monitoring, analyzing, and selecting public issues that may warrant nonmarket strategies.

Accepted Answer

The description given in the question perfectly matches the concept of Issues Management. It involves identifying, monitoring, analyzing, and selecting public issues that may require nonmarket strategies to deal with them effectively. The other options given in the question are not relevant and do not fit the description. Therefore, the correct answer is B) Issues Management.

Quiz 2: New Venture Options: Do You Want to Start a New Business, Buy One, Be a Franchisee, or a Corporate or Nonprofit Entrepreneur