The first aim of a company is to maximizes profits for its stakeholders or owners while keeping ethical business practice in the process. Such economic value added means that there is often a high primary challenge for an organization to effectively balance the interests of various other external parties affected by the business. These may include employees, suppliers, investors, government officials and regulatory agencies. Thus, for any firm to remain competitive and survive long term in the marketplace, it has to find ways to address and minimize some of these…
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