Firms will survive in the long run to the extent that managers consistently create ______ for the firm's broad range of stakeholders.

Question

Quizplus · Accepted Answer

While profits are important for a firm's survival, they are not the only measure of success. Goodwill and harmony are also valuable, but they alone may not be enough to ensure long-term survival. Value creation is a broader concept that encompasses all stakeholders, including customers, employees, shareholders, and the community. By consistently creating value for all of these stakeholders, managers can ensure the firm's long-term survival.

Firms Will Survive in the Long Run to the Extent