Stakeholder impact analysis is a five step process that allows managers to better understand and address stakeholders' needs.
Stakeholder impact analysis is a five steps process. Stakeholder impact analysis allows the manager to address the stakeholders’ needs and understand them better.
Stakeholder impact analysis is five steps process that allows managers to understand the need of their stakeholders. A stakeholder is any entity either person or organization, who is directly or indirectly affects the organization or its project.
The five steps of stakeholder impact analysis are:
- Identify the stakeholder: At this step, managers identify who are their stakeholders that are directly or indirectly affected by their projects, products, or services.
- The interest of the stakeholder: This step defines the interest of the stakeholder
- Opportunities and threats associated with stakeholders: this defines the present opportunities and threats to stakeholders
- Our responsibilities to stakeholders: This process defines that what is our legal, ethical, economic, and philanthropic responsibilities to our stakeholders
- Effectively address the stakeholders’ concerns: This step forces to take action to effectively address the stakeholders’ concerns.
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Answer:
D. The growth of Mini - Multinationals
Explanation:
Mini-multinationals are companies or organisations that carry out their business in two or more countries but are still within the definition of small and medium sized organisations.
Initially before the advent of the computer and the accelerated advancement of globalisation only standardized multinationals based on large firms and corporations were able to carry out business across several countries. However, globalisation as well as the rapid advancement of information technology has made tools of business available such that even small or medium sized firms can become multinationals.
For instance, the availability of an e-market and fast delivery methods makes it possible for a local shoe seller to transact businesses across two or more countries. This is defined as a mini-multinational
<span>If business partners fail to establish articles of partnership they will fall under the Uniform </span>Partnership Act.
This Act serves as a governance of business partnerships. This act gives a framework design to establish how partnerships should be working together and how they will be held accountable for actions taken.
