What must a firm ensure to address the conflict between short-term benefits and long-term societal goals?

To successfully address the conflict between short-term benefits and long-term societal goals, a firm must ensure that its long-term goals are aligned with the short-term individual goals of its stakeholders. This alignment is crucial because it helps to balance immediate financial objectives with broader ethical and social responsibilities. When a company integrates its long-term vision with the interests and incentives of its employees, customers, and other stakeholders, it fosters a culture of sustainable practices that ultimately benefits both the firm and society as a whole.

This alignment encourages stakeholders to act in ways that support the firm’s long-term success, leading to enhanced loyalty, motivation, and engagement. It creates a win-win situation where short-term performance can contribute to long-lasting positive impacts, thereby addressing potential conflicts between immediate gains and future sustainability.

The other options, while potentially relevant in different contexts, do not effectively address the core issue of reconciling short-term and long-term objectives in a responsible manner. Focusing solely on market trends may neglect ethical considerations, ignoring stakeholder concerns fails to acknowledge the needs and values of those affected by the firm's activities, and outsourcing ethical reviews could distance the firm from direct accountability for its actions.