If a Company Fails to Take Stakeholder Claims into Account

question 45

True/False

If a company fails to take stakeholder claims into account when formulating its strategies, stakeholders may withdraw their support.

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Definitions:

Needs-Hierarchy

A theory in psychology proposed by Abraham Maslow, suggesting that people are motivated by five basic categories of needs: physiological, safety, love, esteem, and self-actualization, in that order.

21st Century

The period extending from January 1, 2001, to December 31, 2100, characterized by rapid advancements in technology, globalization, and changing social norms.

Maslow

Refers to Abraham Maslow, a psychologist known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs.

Drivers

Key factors or elements that contribute to the progression or success of something.