Under stakeholder management, stakeholders, not managers, of a firm have the responsibility for establishing the firm's overall direction.

Question

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While stakeholders have an important role in shaping a firm's direction, ultimately it is the responsibility of managers to establish and execute the overall strategy and direction of the firm. Stakeholders may provide input and influence decision-making, but they do not have the sole responsibility for establishing the firm's direction.

Under Stakeholder Management, Stakeholders, Not Managers, of a Firm Have