Answered Essay: Define each of the following terms: Environmental Analysis Stakeholder Engagement

Define each of the following terms: Environmental Analysis Stakeholder Engagement Environmental Intelligence Performance-Expectations Gap Corporate Citizenship Corporate Social Responsibility Social Audit

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Environment Analysis

Environment Analysis is the method managers use to gather information about external issues and trends, to develop a strategy that decreases threats and take advantage of new opportunities.

Stakeholder Engagement

It is the process of ongoing relationship building between a business and its stakeholders.

Environmental Intelligence

Environmental intelligence is the acquisition of information gained from analyzing the multiple environments affecting organizations.

Performance-Expectation Gap

Performance-expectation gap is the gap between what the firm wants to do and what it stakeholders expect from it.

Corporate Citizenship

Corporate citizenship is about understanding and managing an organization’s influences on and relationships with the rest of society in a way that minimises the negative and maximises the positive. It has five stages – Elementary, Engaged, Innovated, Integrated, and Transforming stage.

CSR

CSR is referred to corporations acting in a way that enhances society and its inhabitants and is held accountable for any of its actions that affect people, their communities, and environments.

Social Audit

Social Audit is a systematic evaluation of an organizations social, ethical, and environmental performance

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