This means that the stakeholders have an impact on the company, regardless of they act as an individual or as a collective group, formal or informal. Many managing directors thought that stakeholders’ interference was just a private affair of the company and thus the less progressive companies might decide to ignore it. Unfortunately ignorance to public issues might cost the company in the long run. On the other hand, more progressive companies would look into the problems, being responsive to the public issues and decide to meet the stakeholders’ needs and expectations through implementing corporate social responsibilities program. As the issues are being solved at the early stage of issue development, it would not hurt the company in the long
This means that the stakeholders have an impact on the company, regardless of they act as an individual or as a collective group, formal or informal. Many managing directors thought that stakeholders’ interference was just a private affair of the company and thus the less progressive companies might decide to ignore it. Unfortunately ignorance to public issues might cost the company in the long run. On the other hand, more progressive companies would look into the problems, being responsive to the public issues and decide to meet the stakeholders’ needs and expectations through implementing corporate social responsibilities program. As the issues are being solved at the early stage of issue development, it would not hurt the company in the long