Managing Stakeholder Relationships (Scenario)
Natasha has been hired by Virtual Screen Corporation, a manufacturer of custom window coverings and retractable screen doors. Virtual Screen has recently been having problems with some of their major stakeholders. Some suppliers have been shipping poor quality materials, and customer complaints are increasing. Natasha has been hired to help resolve the current issues and to develop a plan for managing other stakeholder problems in the future.
-Natasha finds out through her research that managing stakeholder relationships can lead to ________.

Question

Quizplus · Accepted Answer

Managing stakeholder relationships can help a company develop a better understanding of external factors, including environmental changes, that may impact their business. By building strong relationships with stakeholders, companies can improve predictability and forecasting of potential risks or opportunities. While managing stakeholder relationships may lead to changes in corporate culture, policies, and procedures, these are not guaranteed outcomes. Similarly, while hiring new and more skilled employees may be a result of improved stakeholder management, it is not the main objective. Therefore, the best choice is B.