ACCA Applied Knowledge · Business and Technology · Social and demographic factors
Which of the following is the most likely benefit to a business of being seen as socially responsible in response to changing social attitudes?
The most likely benefit is an enhanced reputation, which can help attract and retain customers, employees and investors. Social responsibility does not guarantee short-term profit, remove regulatory obligations, or reduce the number of stakeholders the business has.
- AEnhanced reputation that may help attract customers and employeesCorrect
- BA guaranteed increase in short-term profit
- CExemption from regulation
- DA reduction in the number of stakeholders
Explanation
Socially responsible behaviour can improve reputation, helping to attract and retain customers, employees and investors. It does not guarantee profit, does not exempt a firm from regulation, and does not reduce the number of stakeholders.
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