Summary
Summary ESSAY QUESTIONS ENGELS
- Course
- Institution
essay questions English year 2022/2023
[Show more]
Seller
Follow
StudentHW2003
Reviews received
Content preview
1. a) Analyse two possible benefits to a business of having an objective of corporate socialresponsibility.
Corporate social responsibility is an increasingly
important concept in the business world due to the
influence of pressure groups that compel businesses to
reassess their decision making approach. CSR refers to
the situation where businesses consider the interests
of society by taking responsibility for the impact of
their decisions and activities on customers, employees,
communities and the environment. In this essay I will
argue that CSR initiatives yield benefits for companies
like Patagonia, including enhanced brand image,
reputation, competitiveness, and innovation.
The first benefit of having a CSR objective is improved
brand image and reputation. When a company
demonstrates its commitment to social, environmental
and ethical issues, it can gain the trust and loyalty of
customers, employees, and other stakeholders. The
second benefit of having a CSR objective is increased
competitiveness and innovation. By focusing on social
and environmental issues, a company can gain a
competitive advantage over rivals who do not prioritize
these concerns. Moreover, a commitment to CSR can
also drive innovation within a company. When a
company sets ambitious social and environmental
goals, it can inspire employees to develop new
products, services, and processes that align with these
goals. This can lead to new revenue streams and
increased profitability in the long run.
An example of a company known for its CSR is
Patagonia. Patagonia is an American clothing company
specialized in outdoor apparel and gear. By prioritizing
social, environmental, and ethical issues, Patagonia has
built a trustworthy and loyal brand image. Their
transparency efforts and use of recycled materials have
established them as sustainability leaders, attracting
environmentally conscious consumers and setting a
standard for the industry. Patagonia's CSR focus not
only gives them a competitive edge but also shapes
consumer preferences, fostering innovation within the
company. This commitment has propelled them to
pioneer sustainable practices and achieve long-term
, profitability, making Patagonia a compelling case study
for successful CSR implementation.
In conclusion, there are many benefits to a business of
having an objective of corporate social responsibility.
Two of the most important benefits are improved
brand image and reputation, and increased
competitiveness and innovation. By committing to CSR,
a company can not only benefit society as a whole, but
also improve its own bottom line in the long run.
2. b) Evaluate the usefulness of the product life cycle concept to a car manufacturer.
The product life cycle concept is a useful tool that
helps businesses understand the different stages that a
product goes through from launch to withdrawal from
the market. The concept can be particularly useful to a
car manufacturer, which operates in a highly
competitive market and must constantly innovate to
stay ahead of the competition. In this essay I will argue
that Tesla's strategic decisions for the Model S
exemplify the practical value of the product life cycle
concept for car manufacturers.
The PLC concept consists of four stages: introduction,
growth, maturity, and decline. The introduction stage is
characterized by slow sales as customers become
aware of the new product. In the growth stage, sales
increase rapidly as the product gains acceptance in the
market. The maturity stage is characterized by slowing
sales growth and increasing competition, while the
decline stage sees sales decline as the product
becomes obsolete or is replaced by a newer product.
The PLC concept offers valuable insights to car
manufacturers. Firstly, it assists in identifying the
opportune moment to introduce new car models by
closely monitoring sales performance. This enables
manufacturers to stay competitive and sustain market
share. Secondly, the PLC concept aids in developing
effective marketing and advertising strategies tailored
to each stage of the product's life cycle. It guides
manufacturers to build awareness during the
introduction stage, scale up production in the growth
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller StudentHW2003. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.10. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
55628 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now