- Words: 1733
- Length: 6 Pages
- Topic: Business
- Paper #: 39246651
Also, businesses should be open to the idea of changing the way these relationships are formed and maintained to make way for the changing business environment. "Changing the prevailing relationship a firm has with its stakeholders offers an opportunity for innovation and the economic rewards that accompany such innovation" (Harting, Harmeling & Venkataraman, 2006, p.44).
In short, different stakeholder groups have a big impact on the performance of a company. Their