Ch 4: Understanding Management & Stakeholders in Business

About This Chapter

This comprehensive chapter is designed to improve your understanding of management and stakeholders in business. Access these short lessons and quizzes whenever you need to prepare for an upcoming test, complete an assignment or refresh your business knowledge.

Understanding Management & Stakeholders in Business - Chapter Summary

Take a look at this collection of fun video lessons to review the roles of management and stakeholders in business. As you progress through the chapter, you'll study several management functions and levels, as well as the business decision-making process and the interaction between organizations and stakeholders. Take the accompanying self-assessment quizzes to reinforce your understanding of the lesson topics. The chapter can be accessed at any time of day or night, and you can use any Internet-connected device to study. When you're finished working through the chapter, you should be able to:

  • Compare top, middle and low-level management in organizations
  • Define the four functions of management
  • Understand how organizations make decisions
  • Explain how modern corporations are organized and how they interact with stakeholders
  • Evaluate the effects of business decisions on stakeholders
  • Assess the importance of stakeholder management
  • Describe collaborative relationships between stakeholders and organizations

7 Lessons in Chapter 4: Understanding Management & Stakeholders in Business
Test your knowledge with a 30-question chapter practice test
Management in Organizations: Top, Middle & Low-Level Managers

1. Management in Organizations: Top, Middle & Low-Level Managers

The role of a manager in organizations is complex. While managers can come in different shapes and sizes they all share the task of utilizing people and resources to achieve organizational goals. This lesson will discuss the roles and functions of management found in each of the three levels of management.

Four Functions of Management: Planning, Organizing, Leading & Controlling

2. Four Functions of Management: Planning, Organizing, Leading & Controlling

A person who holds a management position inside an organization is required to think strategically and conceptually in order to achieve organizational goals. This lesson will describe the four functions of management and how they relate to organizational success.

The Decision Making Process for Organizations

3. The Decision Making Process for Organizations

We will be discussing the formal decision making process for managers. The process will show you how to look at a problem and use a series of steps to address that problem. It is a key element of managerial decision making and one that is very practical for the business environment.

The Organization of Modern Corporations & Interaction with Stakeholders

4. The Organization of Modern Corporations & Interaction with Stakeholders

In this lesson, you will learn how modern corporations have to organize their departments in order to provide direct interaction with various stakeholders.

The Impact of Business Decisions on Stakeholders

5. The Impact of Business Decisions on Stakeholders

In this lesson, you will learn about the impact of business decisions on stakeholders and the various difficulties in making appropriate ethical decisions that result in fair outcomes for all constituents.

Stakeholder Management: Definition & Importance

6. Stakeholder Management: Definition & Importance

In this lesson, you will learn about project stakeholders and why stakeholder management is a very important part of project management. You will also learn what should be included in a good stakeholder management plan and how it can assist you in managing your stakeholders.

Building Collaborative Relationships Between Organizations & Their Stakeholders

7. Building Collaborative Relationships Between Organizations & Their Stakeholders

Companies need to invest time in building collaborative relationships between organizations and their stakeholders. In this lesson, you will learn about stakeholder engagement stages.

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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