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Businesses are required to contribute towards the wellbeing of the communities in which they operate - NSC Business Studies - Question 9 - 2018 - Paper 1
Question 9
Businesses are required to contribute towards the wellbeing of the communities in which they operate. HIV/Aids and unemployment have been identified as major socio-e... show full transcript
Worked Solution & Example Answer:Businesses are required to contribute towards the wellbeing of the communities in which they operate - NSC Business Studies - Question 9 - 2018 - Paper 1
Step 1
Differentiate between CSR and CSI.
Answer
Corporate Social Responsibility (CSR) refers to a business's initiatives to assess and take responsibility for the company's effects on environmental and social wellbeing. CSR encompasses a holistic approach to conducting business with a sense of responsibility towards society. On the other hand, Corporate Social Investment (CSI) is more focused on the financial contributions made by businesses towards the welfare of communities. While CSR is about changing business practices and integrating social concerns, CSI specifically targets financial investments in community projects.
Step 2
Explain the impact of CSR on communities.
Answer
The impact of CSR on communities can be both positive and negative. Positively, CSR programs can address socio-economic issues, improve the quality of life, create job opportunities, and enhance skills development among community members. However, negative impacts may arise when businesses focus solely on their image without delivering real benefits to the community, or when CSR initiatives do not align with community needs, potentially leading to disappointment.
Step 3
Recommend strategies on how businesses could deal with HIV/Aids and unemployment as socio-economic issues.
Answer
Businesses can adopt several strategies to address HIV/Aids and unemployment:
- Implement employee education campaigns about HIV/Aids to reduce stigma.
- Provide counseling programs for affected employees.
- Offer job training and workshops for community members, enabling skill acquisition.
- Engage in partnerships with health organizations to support affected communities.
- Create job opportunities through community-focused projects and sustainable business practices.
Step 4
Suggest FIVE ways in which businesses could contribute time and effort to improve the well-being of the community, excluding HIV/Aids and unemployment strategies.
Answer
- Invest in educational programs, such as scholarships for local students to pursue higher education.
- Participate in community service activities, such as environmental cleanups and literacy programs.
- Establish partnerships with local NGOs to support health initiatives unrelated to HIV/Aids.
- Sponsor community events that promote social cohesion and cultural activities.
- Create internship programs for students in local schools to gain practical experience.