Asked by anand paypal on Apr 28, 2024
Verified
A stakeholder group that is absolutely necessary for a firm's survival is defined as
A) direct.
B) tertiary.
C) secondary.
D) special-interest.
E) primary.
Primary
Refers to the first or most significant in order or importance.
Tertiary
Relating to the third level or stage of something; in education, it refers to post-secondary education such as universities and colleges.
- Differentiate between primary and secondary stakeholders and their relevance to the firm.
Verified Answer
DR
Daniela RodriguezMay 04, 2024
Final Answer :
E
Explanation :
Primary stakeholders are those who have a direct and significant interest in the activities of the firm, such as shareholders, employees, customers, and suppliers. These stakeholders are essential for the firm's survival and success as they are directly affected by the firm's decisions and actions. Without these primary stakeholders, the firm would not have the necessary resources or support to operate effectively. Therefore, primary stakeholders are considered necessary for a firm's survival.
Learning Objectives
- Differentiate between primary and secondary stakeholders and their relevance to the firm.
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