Successful firms balance the needs of all stakeholders,and manage the organization in a manner which ensures its survival today,but protects its long-term competitiveness and sustainability going forward.

Question

Quizplus · Accepted Answer

This statement is true. Successful firms understand the importance of balancing the needs and interests of all stakeholders, including employees, customers, shareholders, suppliers, and the community. They also focus on managing the organization in a way that ensures its short-term survival while also protecting its long-term competitiveness and sustainability. By doing so, they are able to create a sustainable and successful business that can thrive over the long-term.

Successful Firms Balance the Needs of All Stakeholders,and Manage the Organization