An Organization Is Responsible to Many Different Entities

question 4

Multiple Choice

An organization is responsible to many different entities.In order to meet the demands of these groups,organizations must participate in stakeholder management.Stakeholder management means that

• A) interests of the stockholders are not the only interests that matter.
• B) stakeholders are second in importance to the stockholders.
• C) stakeholders and managers inevitably work at cross-purposes.
• D) all stakeholders receive financial rewards.

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Definitions:

External Attributions

The process of ascribing the cause of one’s own or others’ behavior to external factors or circumstances.

Self-serving Bias

A cognitive bias where individuals attribute their successes to internal factors and failures to external factors.

In-group/out-group Bias

Describes the tendency to favor members of one's own group (the in-group) over those from different groups (the out-group), often leading to prejudice and discrimination.

Fundamental Attribution Error

The tendency to overemphasize personality-based explanations for behaviors observed in others while underestimating the influence of situational factors.