Why Should a For-Profit Organization Be Socially Responsible to Its

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The Answer is A stakeholder is any group or individual who can affect, or is affected by, the achievement of a corporation's purpose. Stakeholders include employees, customers, suppliers, stockholders, banks, environmentalists, government and other groups who can help or hurt the corporation. There are many groups in society besides owners and employees to whom the corporation is responsible. The objectives of a corporation should only be achieved by balancing the often-conflicting interests of these different groups. By incorporating the participation of stakeholders in the governing boards, corporations are likely to respond to the interests of society as a whole. The incorporation of the participation of stakeholders recognizes that this involves governing boards setting an overall direction because they coordinate with the stakeholders of the organization. The corporation's coordinating function can be explained and justified by organizational concern for stakeholders, who identify moral and philosophical guidelines for the governance and management of corporations.

Why Should a For-Profit Organization Be Socially Responsible to Its

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Why Should a For-Profit Organization Be Socially Responsible to Its

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Correct Answer:
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