What approach deals with an organization changing its interaction with the environment because of the preferences of its customers?
A) stakeholder approach
B) market approach
C) legal approach
D) activist approach

Question

Quizplus · Accepted Answer

The market approach deals with an organization changing its interaction with the environment because of the preferences of its customers. This approach focuses on satisfying the needs and wants of customers, recognizing their power in the market, and adjusting the organization's activities accordingly. The stakeholder approach, on the other hand, considers the interests and preferences of all stakeholders, not just customers. The legal approach focuses on complying with laws and regulations, while the activist approach seeks to challenge and change the status quo through social and political action.

What Approach Deals with an Organization Changing Its Interaction with the Environment