Miranda Manufacturing has found that it performs better when they do not try to develop close relationships with stakeholders but, rather, respond to market forces in buying and selling products and other resources. This approach: means the firm has insufficient resources to invest in other important resource areas or stakeholders. could be more efficient when innovation, loyalty, and higher levels of stakeholder motivation are not as important. means the firm should focus on satisfying its primary stakeholders rather than its secondary stakeholders. means the firm can treat stakeholders poorly without incurring competitive problems.'Miranda Manufacturing is managing for its stakeholders. Because of this, it is likely to: perform poorly on CSR. enjoy above-average returns compared to firms that do not manage for stakeholders. perform poorly on ESG. see below-average returns compared to firms that do not manage for stakeholders