Question

Advantages and disadvantages of engaging correctly in corporate social practice

Answer 1

Advantages : -

• Increased sales and market share and customer preference.
• Strengthened market position.
• Enhanced corporate image and clout.
• Increased ability to attract, motivate and retain employees.
• Decreased operating costs.
• Increased appeal to investors and financial analysts.
• Improved financial perofrmance in the long run.

Disadvantages : -

• Choosing the wrong social issues.
• Selecting the wrong initiative to address the issue which does not work.
• Not developing and implementing the right combination of marketing mix elements and techniques to address the issue.
• Too much bragging about what the company is doing.
• Short term gains only.