Impacts of Corporate Social Responsibility on Business

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What is the main purpose of Environmental Scanning?

To identify opportunities and threats in the external environment (correct)
To track social media trends
To analyze internal processes of a business
To increase shareholder value

How does Corporate Social Responsibility (CSR) benefit a business?

By ignoring environmental concerns
By enhancing its reputation and attracting customers (correct)
By only focusing on profit maximization
By reducing the need for long-term planning

What is an essential aspect for a business to consider when thinking about its stakeholders?

Reducing employee benefits
Only focusing on shareholders
Prioritizing long-term relationships and mutual benefits (correct)
Ignoring stakeholder interests for better profit margins

How can a business practice sustainable operations for environmentally stable outcomes?

Implement eco-friendly policies and reduce carbon footprint (A) Signup and view all the answers

What are the primary responsibilities of Corporate Social Responsibility (CSR)?

Creating positive social impact, ethical behavior, and environmental sustainability (B) Signup and view all the answers

How can a business ensure effective planning according to the text?

By considering stakeholder interests and long-term sustainability (B) Signup and view all the answers

What is one of the challenges businesses face when implementing Corporate Social Responsibility (CSR) programs?

Difficulty in measuring the true benefits of CSR demands (A) Signup and view all the answers

In the context of sustainable business practices, what is one way to ensure environmentally stable operations?

Promote responsible use of non-renewable resources (B) Signup and view all the answers

Which of the following is a socially sustainable aspect that businesses need to address?

Lack of skills development for employees (B) Signup and view all the answers

How can businesses influence their suppliers to promote sustainable practices throughout the supply chain?

Taking precautions to ensure sustainable business practices (A) Signup and view all the answers

What makes stakeholders challenging for businesses to manage effectively?

Limited resource availability for stakeholder demands (C) Signup and view all the answers

How can businesses understand stakeholders' interests better?

Developing capacity by addressing social issues (C) Signup and view all the answers

What is the main purpose of conducting a PESTEL analysis in a business?

To understand the external factors impacting the business environment (B) Signup and view all the answers

In the context of social considerations, what does CSR stand for?

Corporate Social Responsibility (A) Signup and view all the answers

How can a business align with CSR demands without overwhelming itself?

By implementing policies for commercial sustainability (D) Signup and view all the answers

What is a key aspect of the King Code in relation to CSR?

Fostering sustainable practices and engaging with stakeholders (D) Signup and view all the answers

Which factor is NOT typically considered in the social aspect of a PESTEL analysis?

Technological advancements (C) Signup and view all the answers

How do environmental factors influence business operations according to the text?

They may affect raw material availability and carbon footprint (A) Signup and view all the answers