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a) Justify two reasons why businesses should practice social responsibility (2 marks) Step 1: Enhanced Reputation Practicing social responsibility improves a business's public image and brand perception, making it more attractive to customers and investors.
Step 2: Increased Customer Loyalty Consumers are more likely to support businesses that demonstrate ethical behavior and contribute positively to society, leading to stronger customer relationships.
b) Examine two challenges a business may face when carrying out social responsibility activities. (2 marks) Step 1: High Costs Implementing social responsibility programs, such as adopting eco-friendly technologies or fair labor practices, can be expensive and may reduce short-term profits.
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a) Justify two reasons why businesses should practice social responsibility (2 marks) Step 1: Enhanced Reputation Practicing social responsibility improves a business's public image and brand perception, making it more attractive to customers and inve…
This business/management problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.