Asked by Allison Marcyan on Feb 18, 2024
Verified
If corporate social responsibility efforts promote a business as a good neighbor but its business practices have historically ignored pollution at its manufacturing plants,what degree of risk is this business taking?
A) no risk
B) serious risk because hypocrisy,or any hint of it,can seriously damage CSR efforts and corporate reputation
C) medium risk because it is possible something catastrophic could occur at a CSR promotional event
D) minimal risk because most people don't pay that much attention
Corporate Reputation
How a company (or organization) is perceived by its key stakeholders.
- Understanding the importance of corporate social responsibility in business practices
- Recognizing the potential risks associated with hypocrisy in CSR efforts
- Identifying the impact of corporate reputation on business success
Verified Answer
MS
Mihir SurtiFeb 18, 2024
Final Answer :
B
Explanation :
This business is taking a serious risk because any hypocrisy or hint of it can seriously damage CSR efforts and corporate reputation. Consumers today are more cautious and pay more attention to a company's practices than ever before. If a company is promoting itself as socially responsible, but in reality, it is not, it can suffer severe reputational damage. Therefore, it is essential to align business practices with CSR efforts to maintain credibility and trust with customers.
Learning Objectives
- Understanding the importance of corporate social responsibility in business practices
- Recognizing the potential risks associated with hypocrisy in CSR efforts
- Identifying the impact of corporate reputation on business success
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