Those people and groups to whom an organization is responsible

__or claim in some aspect of a company's products, operations, markets, industry or outcomes

These groups not only are influenced by businesses but they also have the ability to affect businesses

Provide resources that are more or less critical to a firms long term success

are those whose continued association is absolutely necessary for a firm's survival

Do not typically engage in transactions with a company and thus are not essential for it's survival

These includes employees, customers, investors and shareholders as well as governments and communities that provide necessary infrastructure

These includes the media, trade transactions and special interest groups

The degree to which firm understands and addresses stakeholder demands

The extent to which a stakeholder can gain access to coercive, utilitarian or symbolic means to impose or communicate it's views to the organization

Involves the use of fear, suppression, physical force, punishment or some type of restraint

Involves financial or material control or based on a decision's utility or usefulness

Relies on the use of symbols that connote social acceptance, prestige or some other attribute

The time sensitivity and the importance of claim to the stakeholders

3 types of Power

2 characteristics of urgency

Usually heightens the stakeholders effort

The process of building and sustaining a company's good name and generating positive feedback from stakeholders

4 components of reputation management

Desired perception of organization

Initial impression

Actual interaction between organization and stakeholders

Enduring perceptions and attitudes based on repeated outcomes

The process of handling a high impact event characterized by ambiguity and the need for swift action

4 crisis management stage

Warning signs and symptoms may occur

Crisis occurs

Ongoing crisis requires explanation and decision making

Success and failure outcomes for firm and stakeholders

An asset that resides in relationships and is characterized by mutual goals and trust

The process of assessing and reporting a firm's performance in adopting a strategic focus for fulfilling the economic, legal, ethical and philanthropic social responsibilities expected of it by its stakeholders

The perception or belief that a stakeholders actions are proper, desirable or appropriate within a given context

Also linked to compliance with regulations, values and norms that support ethical conduct

A pre-crisis period during which warning signs may exist

Which the actual crisis occurs

The business is required to sufficiently explain its actions to move to the final stage