Final answer:
The board of directors, institutional investors, and blockholders monitor firm strategies to ensure managerial responsiveness.
Step-by-step explanation:
The board of directors, institutional investors, and blockholders are responsible for overseeing and monitoring firm strategies to ensure managerial responsiveness. The board of directors, elected by the shareholders, is the primary institution of corporate governance that provides oversight for top executives. Institutional investors, such as large mutual funds or pension funds, and blockholders also play a crucial role in monitoring firm strategies. These stakeholders help ensure that the firm is running in the interests of the true owners, the shareholders.