Final answer:
Organizations identify stakeholders primarily to secure resources and maintain legitimacy, aligning with stakeholder theory that emphasizes balancing the interests of all parties involved with the firm.
Step-by-step explanation:
Organizations must identify their stakeholders primarily for obtaining resources and maintaining legitimacy. This perspective aligns with the stakeholder theory, which suggests that managers should balance the interests of all individuals and groups that have a stake in the firm—not just shareholders, but also employees, customers, communities, and others. While the shareholder theory focuses on maximizing shareholder wealth, stakeholders represent a broader group whose interests are intertwined with the company's operations and success. Therefore, recognizing stakeholders is essential for an organization's longevity, ethical standing, and comprehensive decision-making process that takes into account the diverse impacts of its actions.