If the question had asked for management roles, it would have definitely specified those terms.
So in this case, the only dot points they're asking for is, 'Responsibilities to stakeholders- reconciling conflicts of interest.'
So you would explain what it means to reconcile conflicts of interest. It says to use an example, so its actually asking for you to make up a hypothetical situation, or use a case study.
Eg. I said that consumers/community wanted businesses to be ecologically sustainable, but owners/shareholders would have problems with this because of the financial costs to them. Hence, at Target a manger proposed that they ban all unenvironmentally plastic bags, and encourage customers to bring their own, or charge 10C for a biodegradable bag. And the problem is solved.