Environmental groups or fair labor practice groups that challenge firms to maintain high standards are examples of:

Question

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Environmental groups and fair labor practice groups are not shareholders of a firm, thus they are not primary stakeholders. However, they do have an interest in the actions of the firm, making them secondary stakeholders. CSR (Corporate Social Responsibility) refers to the responsibility of the firm towards society and the environment, and can be practiced by taking the concerns of these groups into account. Environmental groups or fair labor practice groups that challenge firms to maintain high standards are not shareholders who own the company or CSRs (corporate social responsibility) initiatives created by the company itself. They are also not primary stakeholders who have a direct financial or contractual relationship with the company. Rather, they are secondary stakeholders who have an interest in the company's actions and impact on society and the environment.

Environmental Groups or Fair Labor Practice Groups That Challenge Firms