Although many stakeholders may hold little power over a firm individually, they can exert significant power if they organize their power.

Question

Quizplus · Accepted Answer

This statement is true. The power of stakeholders may be diffuse and scattered, but if they are able to coordinate and organize their efforts, they can have a substantial impact on the decisions of a firm. This is a key reason why many firms engage in stakeholder engagement and management strategies to ensure that they are able to address the concerns and interests of multiple stakeholders, regardless of their individual levels of power.

Although Many Stakeholders May Hold Little Power Over a Firm