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In the context of a stakeholder view of a firm, which of the following views is supported by the corporate social responsibility (CSR) advocates?a. A firm's first and foremost stakeholder group is the shareholders, and managers have a fiduciary duty to look after shareholder interests.b. Privatization should be exercised to transform socialist firms to capitalist firms.c. The free market system may fail to constrain itself while pursuing profits, thus often breeding greed, excesses, and abuses.d. Managers will lose their focus on profit maximization if firms attempt to attain social goals such as providing employment and social welfare.
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