If Eli starts his own business, his firm's activities and policies will impact many different groups of stakeholders, including employees, customers, creditors, suppliers, and people living in the community where his business is located. Which of the following statements represents how Eli should deal with these various groups? Eli should
A) take the needs of all of these groups into account, and try to satisfy each group as much as possible.
B) concentrate on meeting the needs of his customers, since they are crucial to the success of his business, but ignore the needs of other groups in order to keep costs low.
C) satisfy whichever group complains the loudest, using the "squeaky wheel gets the grease" philosophy.
D) concentrate on maximizing his own profits and let everyone else look out for themselves.

Question

If Eli starts his own business, his firm's activities and policies will impact many different groups of stakeholders, including employees, customers, creditors, suppliers, and people living in the community where his business is located. Which of the following statements represents how Eli should deal with these various groups? Eli should 
A) take the needs of all of these groups into account, and try to satisfy each group as much as possible.
B) concentrate on meeting the needs of his customers, since they are crucial to the success of his business, but ignore the needs of other groups in order to keep costs low.
C) satisfy whichever group complains the loudest, using the "squeaky wheel gets the grease" philosophy.
D) concentrate on maximizing his own profits and let everyone else look out for themselves.

Quizplus · Accepted Answer

All of the groups mentioned in this question are stakeholders in a business. They are all affected by the products, policies, and practices of the firm and their concerns need to be addressed.

If Eli Starts His Own Business, His Firm's Activities and Policies