ADM 1101 Study Guide - Comprehensive Midterm Guide: Deepwater Horizon Oil Spill, Corporate Social Responsibility, Crisis Management

• School: University of Ottawa
• Department: Administration
• Course: ADM 1101
• Professor: Kevin Petit- Frere

Document Summary

The way that corporations deal with their relevant stakeholders is extremely important to success. There are many different charts and ways to define the stakeholders of specific corporations, from using charts, to using matrices. These techniques help businesses classify their relevant stakeholders (which are different for every single corporation based on their industry), and evaluates their power and importance to the corporation. The most important stakeholder identification method identifies stakeholders based on: salience, urgency, power, legitimacy, or a mixture of all of these characteristics. Corporations should put in efforts to identify and address important stakeholder opinions and ideas. There are two main civil society organizations that businesses should be aware of. Both of these organizations have different powers and aspects that could affect business operations, and their powers and desires should be analyzed and dealt with by corporations. Oil flowed for 87 days after the explosion. The degree to which priority is given to.