Business Social Responsibilty

Question 1

What is Social Responsibility in Business?

Answer 1

Fair treatment of all stakeholders

Question 2

What is a key responsibility to suppliers?

Answer 2

Pay them on time with fair prices

Question 3

What is a responsibility of businesses towards employees?

Answer 3

Pay wages reflecting qualifications and efforts, ensure safe working conditions, provide health benefits

Question 4

What is an example of fair treatment of suppliers?

Answer 4

The Body Shop sources ingredients from small-scale, disadvantaged suppliers and ensures fair payment

Question 5

What is an example of unethical business behaviour towards customers?

Answer 5

Neurofen charging double for a painkiller identical to its standard product

Question 6

What is a responsibility of businesses towards investors?

Answer 6

Provide honest information about financial performance and share success through reasonable dividends

Question 7

What is a responsibility of businesses towards the government?

Answer 7

Comply with legal regulations, pay taxes fully and on time, contribute to infrastructure and economic stability

Question 8

What is an advantage of being a socially responsible business?

Answer 8

Increased sales, reduced costs, easier to attract and retain employees, easier to attract capital

Question 9

How can being socially responsible reduce costs?

Answer 9

By implementing sustainable practices such as reducing waste, improving energy efficiency, and optimising resource use

Question 10

How does social responsibility help attract employees?

Answer 10

Employees prefer to work for companies that align with their values and contribute to a positive social impact