Corporations must understand how their activities influence stakeholders but not how stakeholders can influence their activities.

Question

Quizplus · Accepted Answer

Corporations must not only understand how their activities influence stakeholders, but also how stakeholders can influence their activities. Engaging with and understanding the needs and concerns of stakeholders, such as customers, employees, investors, and local communities, is essential for corporate social responsibility and sustainable business practices. Additionally, stakeholders can impact a corporation through actions such as protests, boycotts, and activism, making it important for corporations to consider their impact on stakeholders and address concerns in a timely and transparent manner.

Corporations Must Understand How Their Activities Influence Stakeholders but Not