CIPS Updated L3M4 Exam Questions and Answers by morgan

Explanation

According to CIPS, shareholders are not internal stakeholders. They are 'connected' stakeholders.

In many small or family businesses, the shareholders will be the managers of the business.

Explanation

Economic.

Although there may be some political input which may have an effect on exchange rates and infla-tion, the primary heading is obviously 'economic'.

Explanation

Being aware of one's own strengths and weaknesses, one's effect on others, etc - self-awareness.

It is in your own self-interest to drive carefully, as well as being in the interests of other road-users.

The people who become CIPS members self-select through their application to the Institute for membership, and through their studies.

Explanation

The QUESTION NO: gives us the clue that the answer is not dictatorial.

Both democratic and laissez-faire are less dogmatic than is suggested in the QUESTION NO:.

You will probably want to be fairly clear on Tannenbaum and Schmidt's ideas for your assessment, I should think.