12 Questions
What social responsibility strategy involves a company acting only when a problem becomes public?
Reaction Strategy
Which strategy requires a company to go beyond legal and ethical requirements?
Proactive Strategy
What might happen to a company's competitive power if it uses funds for social projects?
It might decrease
Which type of audits are conducted to evaluate social activities within a company?
Social audits
When does the Defense Strategy come into play according to the text?
When additional obligations are desired
What is one of the drawbacks of engaging in social responsibility according to the text?
Potential reduction in funds available for competition
What is a benefit for companies that are socially responsible?
Improved Employee Satisfaction and Motivation
Why does a socially responsible company have greater awareness of changing consumer tastes and preferences?
By identifying social needs that can be served
How can socially responsible companies benefit from investors?
Stocks sold at a higher market price
What may result in the elimination of legislative controls on business activity?
Social issues becoming a concern of legislative bodies
What is a cost associated with socially responsible actions?
Money spent in support of social projects
How do socially responsible companies benefit from job satisfaction?
By providing job satisfaction to employees
Explore the benefits and costs associated with social actions taken by companies, including improved employee satisfaction, awareness of changing consumer preferences, and potential financial implications. Learn about the direct and indirect advantages of being socially responsible.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
