Effective stakeholder engagement makes firms more competitive

Questions:

1. Do you agree that companies should create value for all their stakeholders, including shareholders, employees, customers, governments, and the communities in which they operate? Explain your reasoning.
2. Respond to the following statement: “Effective stakeholder engagement makes firms more competitive.”
3. Respond to the following statement: “In the long run those who do not use power in ways that society considers responsible will tend to lose it.”
4. In your opinion, should companies embrace the idea of corporate social responsibility? Explain your reasoning.
5. When we add up all the costs and benefits, is society better off as a result of globalization? Explain your reasoning.