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Assess the likely value of Corporate Social Responsibility to a business, such as Cadbury. - Edexcel - A-Level Business - Question 2 - 2018 - Paper 3
Question 2
Assess the likely value of Corporate Social Responsibility to a business, such as Cadbury.
Worked Solution & Example Answer:Assess the likely value of Corporate Social Responsibility to a business, such as Cadbury. - Edexcel - A-Level Business - Question 2 - 2018 - Paper 3
Step 1
Understanding Corporate Social Responsibility (CSR)
Answer
Corporate Social Responsibility (CSR) involves attention to the needs and preferences of all stakeholders, not just shareholders. This includes customer care, employee treatment, environmental impact, and the overall ethical conduct of a business.
Step 2
Positive Values of CSR
Answer
For Cadbury, implementing CSR practices such as looking after employees through benefits and maintaining product quality can enhance brand reputation. Supporting government health initiatives can improve employee motivation and overall morale, making the brand more appealing to socially conscious consumers.
Step 3
Potential Counterbalance
Answer
Financial considerations can overshadow CSR efforts. For instance, consumers may prioritize lower prices, especially during economic downturns, which could lead them to overlook manufacturers that practice CSR. Additionally, chocolate is often an impulse buy, challenging brands to gain customer loyalty solely on CSR grounds.
Step 4