Describe the four general approaches to dealing with ...

[Pineapplelove6]

Describe the four general approaches to dealing with stakeholders.
 
  What will be an ideal response?

Question 2

Former President Richard Nixon's cover-up in the Watergate break-in that eventually led to his resignation is an example of
 
  A) escalation of commitment.
  B) the illusion of control.
  C) intuition.
  D) groupthink.

[sarah_brady415]

Answer to Question 1

The four general approaches to dealing with stakeholders are the confrontation, damage control, accommodation, and proactive strategies. The confrontation strategy is used with a stakeholder group whose goals are perceived to threaten company performance; the firm may use the courts, engage in public relations, or lobby against legislation. Damage control is a means a firm may use to deal with a stakeholder group when it decides that it may have made mistakes and wants to improve its relationship with the stakeholders and to elevate its public image. Accommodation is a means of dealing with stakeholder groups when a firm decides to accept social responsibility for its business decisions after pressure has been exerted by stakeholder groups. And the proactive strategy is a means of dealing with stakeholders when a firm determines that it wants to go beyond stakeholder expectations.

Answer to Question 2

B

[Pineapplelove6]

TY

[sarah_brady415]

Happy to Help