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Read the following passage carefully and answer the questions that follow.Consumers increasingly expect brands to have not just functional benefits but a social purpose. As a result, companies are taking social stands in very visible ways. Airbnb used a Super Bowl ad to publicly cement its commitment to diversity. Tecate, based in Mexico, is investing heavily in programs to reduce violence against women, and Vicks, a P&G brand in India, supports child-adoption rights for transgender people. Brands increasingly use social purpose to guide marketing communications, inform product innovation, and steer investments toward social cause programs. And that's all well and good when it works. But missteps are common, and they can have real consequences.Countless well-intentioned social-purpose programs have consumed resources and management time only to end up in obscurity. Sometimes they backfire because the brand messages designed to promote them anger or offend customers - or they simply go unnoticed because they fail to resonate. Other times, managers use these initiatives solely to pursue intangible benefits such as brand affection or as a means to communicate the company's corporate social responsibility, without consideration of how they might be able to create business value for the firm.To develop a social purpose strategy, managers should begin by identifying a set of social or environmental needs to which the brand can make a meaningful contribution. (For simplicity, we'll use the term "social needs" to refer to both social and environmental concerns.) Few brands are likely to start with a blank slate - most have corporate social responsibility programs under way, some of which could become relevant aspects of the brand's value proposition. Yet focusing on only those initiatives could limit the potential of a purpose-driven brand strategy or divert marketing resources meant to stimulate the brand's growth toward corporate initiatives. To create a more comprehensive set of choices, managers should explore social purpose ideas in three domains: brand heritage, customer tensions, and product externalities.Of the many benefits a brand may confer, only a few are likely to have defined the brand from the start and be the core reason for its success. Since its launch, in 1957, Dove has been promoted as a beauty bar, not a soap. Enhancing beauty has always been central to its value proposition. Therefore, it makes sense that Dove focuses on social needs tied to perceptions of beauty.Finally, examine your product's or industry's externalities - the indirect costs borne or benefits gained by a third party as a result of your products' manufacture or use. For instance, the food and beverage industry has been criticized for the contribution of some of its products to the increasing rates of childhood obesity. It has also faced concerns about negative health effects resulting from companies' use of artificial ingredients and other chemicals in their products. Panera Bread's decision to position its offerings as "clean food" - made without "artificial preservatives, sweeteners, flavours, or colours from artificial sources" - is a direct response to a social need created by industry externalities.Managers often have the best intentions when trying to link their brands with a social need, but choosing the right one can be difficult and risky and has long-term implications. Competing on social purpose requires managers to create value for all stakeholders - customers, the company, shareholders, and society at large - merging strategic acts of generosity with the diligent pursuit of brand goals.Q. It can be inferred from the passage that the author is most likely to disagree with which of the following statements?a)Part of the reason why corporate social responsibility does not pay is that only a handful or consumers know or care about the environmental or social records of more than a handful of firms.b)To assume that the business environment has fundamentally changed and that we are entering a new world in which corporate social responsibility has become critical to the success of all or even most firms is misinformed.c)Demonstrating worthy corporate social responsibility is an important aspect of an organization's higher purpose.d)A company jumping on the corporate social responsibility bandwagon just for show or greenwashing doesn't fool its employees or consumers.Correct answer is option 'A'. Can you explain this answer? for CAT 2024 is part of CAT preparation. The Question and answers have been prepared according to the CAT exam syllabus. Information about Read the following passage carefully and answer the questions that follow.Consumers increasingly expect brands to have not just functional benefits but a social purpose. As a result, companies are taking social stands in very visible ways. Airbnb used a Super Bowl ad to publicly cement its commitment to diversity. Tecate, based in Mexico, is investing heavily in programs to reduce violence against women, and Vicks, a P&G brand in India, supports child-adoption rights for transgender people. Brands increasingly use social purpose to guide marketing communications, inform product innovation, and steer investments toward social cause programs. And that's all well and good when it works. But missteps are common, and they can have real consequences.Countless well-intentioned social-purpose programs have consumed resources and management time only to end up in obscurity. Sometimes they backfire because the brand messages designed to promote them anger or offend customers - or they simply go unnoticed because they fail to resonate. Other times, managers use these initiatives solely to pursue intangible benefits such as brand affection or as a means to communicate the company's corporate social responsibility, without consideration of how they might be able to create business value for the firm.To develop a social purpose strategy, managers should begin by identifying a set of social or environmental needs to which the brand can make a meaningful contribution. (For simplicity, we'll use the term "social needs" to refer to both social and environmental concerns.) Few brands are likely to start with a blank slate - most have corporate social responsibility programs under way, some of which could become relevant aspects of the brand's value proposition. Yet focusing on only those initiatives could limit the potential of a purpose-driven brand strategy or divert marketing resources meant to stimulate the brand's growth toward corporate initiatives. To create a more comprehensive set of choices, managers should explore social purpose ideas in three domains: brand heritage, customer tensions, and product externalities.Of the many benefits a brand may confer, only a few are likely to have defined the brand from the start and be the core reason for its success. Since its launch, in 1957, Dove has been promoted as a beauty bar, not a soap. Enhancing beauty has always been central to its value proposition. Therefore, it makes sense that Dove focuses on social needs tied to perceptions of beauty.Finally, examine your product's or industry's externalities - the indirect costs borne or benefits gained by a third party as a result of your products' manufacture or use. For instance, the food and beverage industry has been criticized for the contribution of some of its products to the increasing rates of childhood obesity. It has also faced concerns about negative health effects resulting from companies' use of artificial ingredients and other chemicals in their products. Panera Bread's decision to position its offerings as "clean food" - made without "artificial preservatives, sweeteners, flavours, or colours from artificial sources" - is a direct response to a social need created by industry externalities.Managers often have the best intentions when trying to link their brands with a social need, but choosing the right one can be difficult and risky and has long-term implications. Competing on social purpose requires managers to create value for all stakeholders - customers, the company, shareholders, and society at large - merging strategic acts of generosity with the diligent pursuit of brand goals.Q. It can be inferred from the passage that the author is most likely to disagree with which of the following statements?a)Part of the reason why corporate social responsibility does not pay is that only a handful or consumers know or care about the environmental or social records of more than a handful of firms.b)To assume that the business environment has fundamentally changed and that we are entering a new world in which corporate social responsibility has become critical to the success of all or even most firms is misinformed.c)Demonstrating worthy corporate social responsibility is an important aspect of an organization's higher purpose.d)A company jumping on the corporate social responsibility bandwagon just for show or greenwashing doesn't fool its employees or consumers.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CAT 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the following passage carefully and answer the questions that follow.Consumers increasingly expect brands to have not just functional benefits but a social purpose. As a result, companies are taking social stands in very visible ways. Airbnb used a Super Bowl ad to publicly cement its commitment to diversity. Tecate, based in Mexico, is investing heavily in programs to reduce violence against women, and Vicks, a P&G brand in India, supports child-adoption rights for transgender people. Brands increasingly use social purpose to guide marketing communications, inform product innovation, and steer investments toward social cause programs. And that's all well and good when it works. But missteps are common, and they can have real consequences.Countless well-intentioned social-purpose programs have consumed resources and management time only to end up in obscurity. Sometimes they backfire because the brand messages designed to promote them anger or offend customers - or they simply go unnoticed because they fail to resonate. Other times, managers use these initiatives solely to pursue intangible benefits such as brand affection or as a means to communicate the company's corporate social responsibility, without consideration of how they might be able to create business value for the firm.To develop a social purpose strategy, managers should begin by identifying a set of social or environmental needs to which the brand can make a meaningful contribution. (For simplicity, we'll use the term "social needs" to refer to both social and environmental concerns.) Few brands are likely to start with a blank slate - most have corporate social responsibility programs under way, some of which could become relevant aspects of the brand's value proposition. Yet focusing on only those initiatives could limit the potential of a purpose-driven brand strategy or divert marketing resources meant to stimulate the brand's growth toward corporate initiatives. To create a more comprehensive set of choices, managers should explore social purpose ideas in three domains: brand heritage, customer tensions, and product externalities.Of the many benefits a brand may confer, only a few are likely to have defined the brand from the start and be the core reason for its success. Since its launch, in 1957, Dove has been promoted as a beauty bar, not a soap. Enhancing beauty has always been central to its value proposition. Therefore, it makes sense that Dove focuses on social needs tied to perceptions of beauty.Finally, examine your product's or industry's externalities - the indirect costs borne or benefits gained by a third party as a result of your products' manufacture or use. For instance, the food and beverage industry has been criticized for the contribution of some of its products to the increasing rates of childhood obesity. It has also faced concerns about negative health effects resulting from companies' use of artificial ingredients and other chemicals in their products. Panera Bread's decision to position its offerings as "clean food" - made without "artificial preservatives, sweeteners, flavours, or colours from artificial sources" - is a direct response to a social need created by industry externalities.Managers often have the best intentions when trying to link their brands with a social need, but choosing the right one can be difficult and risky and has long-term implications. Competing on social purpose requires managers to create value for all stakeholders - customers, the company, shareholders, and society at large - merging strategic acts of generosity with the diligent pursuit of brand goals.Q. It can be inferred from the passage that the author is most likely to disagree with which of the following statements?a)Part of the reason why corporate social responsibility does not pay is that only a handful or consumers know or care about the environmental or social records of more than a handful of firms.b)To assume that the business environment has fundamentally changed and that we are entering a new world in which corporate social responsibility has become critical to the success of all or even most firms is misinformed.c)Demonstrating worthy corporate social responsibility is an important aspect of an organization's higher purpose.d)A company jumping on the corporate social responsibility bandwagon just for show or greenwashing doesn't fool its employees or consumers.Correct answer is option 'A'. Can you explain this answer?.

Solutions for Read the following passage carefully and answer the questions that follow.Consumers increasingly expect brands to have not just functional benefits but a social purpose. As a result, companies are taking social stands in very visible ways. Airbnb used a Super Bowl ad to publicly cement its commitment to diversity. Tecate, based in Mexico, is investing heavily in programs to reduce violence against women, and Vicks, a P&G brand in India, supports child-adoption rights for transgender people. Brands increasingly use social purpose to guide marketing communications, inform product innovation, and steer investments toward social cause programs. And that's all well and good when it works. But missteps are common, and they can have real consequences.Countless well-intentioned social-purpose programs have consumed resources and management time only to end up in obscurity. Sometimes they backfire because the brand messages designed to promote them anger or offend customers - or they simply go unnoticed because they fail to resonate. Other times, managers use these initiatives solely to pursue intangible benefits such as brand affection or as a means to communicate the company's corporate social responsibility, without consideration of how they might be able to create business value for the firm.To develop a social purpose strategy, managers should begin by identifying a set of social or environmental needs to which the brand can make a meaningful contribution. (For simplicity, we'll use the term "social needs" to refer to both social and environmental concerns.) Few brands are likely to start with a blank slate - most have corporate social responsibility programs under way, some of which could become relevant aspects of the brand's value proposition. Yet focusing on only those initiatives could limit the potential of a purpose-driven brand strategy or divert marketing resources meant to stimulate the brand's growth toward corporate initiatives. To create a more comprehensive set of choices, managers should explore social purpose ideas in three domains: brand heritage, customer tensions, and product externalities.Of the many benefits a brand may confer, only a few are likely to have defined the brand from the start and be the core reason for its success. Since its launch, in 1957, Dove has been promoted as a beauty bar, not a soap. Enhancing beauty has always been central to its value proposition. Therefore, it makes sense that Dove focuses on social needs tied to perceptions of beauty.Finally, examine your product's or industry's externalities - the indirect costs borne or benefits gained by a third party as a result of your products' manufacture or use. For instance, the food and beverage industry has been criticized for the contribution of some of its products to the increasing rates of childhood obesity. It has also faced concerns about negative health effects resulting from companies' use of artificial ingredients and other chemicals in their products. Panera Bread's decision to position its offerings as "clean food" - made without "artificial preservatives, sweeteners, flavours, or colours from artificial sources" - is a direct response to a social need created by industry externalities.Managers often have the best intentions when trying to link their brands with a social need, but choosing the right one can be difficult and risky and has long-term implications. Competing on social purpose requires managers to create value for all stakeholders - customers, the company, shareholders, and society at large - merging strategic acts of generosity with the diligent pursuit of brand goals.Q. It can be inferred from the passage that the author is most likely to disagree with which of the following statements?a)Part of the reason why corporate social responsibility does not pay is that only a handful or consumers know or care about the environmental or social records of more than a handful of firms.b)To assume that the business environment has fundamentally changed and that we are entering a new world in which corporate social responsibility has become critical to the success of all or even most firms is misinformed.c)Demonstrating worthy corporate social responsibility is an important aspect of an organization's higher purpose.d)A company jumping on the corporate social responsibility bandwagon just for show or greenwashing doesn't fool its employees or consumers.Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for CAT. Download more important topics, notes, lectures and mock test series for CAT Exam by signing up for free.

Here you can find the meaning of Read the following passage carefully and answer the questions that follow.Consumers increasingly expect brands to have not just functional benefits but a social purpose. As a result, companies are taking social stands in very visible ways. Airbnb used a Super Bowl ad to publicly cement its commitment to diversity. Tecate, based in Mexico, is investing heavily in programs to reduce violence against women, and Vicks, a P&G brand in India, supports child-adoption rights for transgender people. Brands increasingly use social purpose to guide marketing communications, inform product innovation, and steer investments toward social cause programs. And that's all well and good when it works. But missteps are common, and they can have real consequences.Countless well-intentioned social-purpose programs have consumed resources and management time only to end up in obscurity. Sometimes they backfire because the brand messages designed to promote them anger or offend customers - or they simply go unnoticed because they fail to resonate. Other times, managers use these initiatives solely to pursue intangible benefits such as brand affection or as a means to communicate the company's corporate social responsibility, without consideration of how they might be able to create business value for the firm.To develop a social purpose strategy, managers should begin by identifying a set of social or environmental needs to which the brand can make a meaningful contribution. (For simplicity, we'll use the term "social needs" to refer to both social and environmental concerns.) Few brands are likely to start with a blank slate - most have corporate social responsibility programs under way, some of which could become relevant aspects of the brand's value proposition. Yet focusing on only those initiatives could limit the potential of a purpose-driven brand strategy or divert marketing resources meant to stimulate the brand's growth toward corporate initiatives. To create a more comprehensive set of choices, managers should explore social purpose ideas in three domains: brand heritage, customer tensions, and product externalities.Of the many benefits a brand may confer, only a few are likely to have defined the brand from the start and be the core reason for its success. Since its launch, in 1957, Dove has been promoted as a beauty bar, not a soap. Enhancing beauty has always been central to its value proposition. Therefore, it makes sense that Dove focuses on social needs tied to perceptions of beauty.Finally, examine your product's or industry's externalities - the indirect costs borne or benefits gained by a third party as a result of your products' manufacture or use. For instance, the food and beverage industry has been criticized for the contribution of some of its products to the increasing rates of childhood obesity. It has also faced concerns about negative health effects resulting from companies' use of artificial ingredients and other chemicals in their products. Panera Bread's decision to position its offerings as "clean food" - made without "artificial preservatives, sweeteners, flavours, or colours from artificial sources" - is a direct response to a social need created by industry externalities.Managers often have the best intentions when trying to link their brands with a social need, but choosing the right one can be difficult and risky and has long-term implications. Competing on social purpose requires managers to create value for all stakeholders - customers, the company, shareholders, and society at large - merging strategic acts of generosity with the diligent pursuit of brand goals.Q. It can be inferred from the passage that the author is most likely to disagree with which of the following statements?a)Part of the reason why corporate social responsibility does not pay is that only a handful or consumers know or care about the environmental or social records of more than a handful of firms.b)To assume that the business environment has fundamentally changed and that we are entering a new world in which corporate social responsibility has become critical to the success of all or even most firms is misinformed.c)Demonstrating worthy corporate social responsibility is an important aspect of an organization's higher purpose.d)A company jumping on the corporate social responsibility bandwagon just for show or greenwashing doesn't fool its employees or consumers.Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Read the following passage carefully and answer the questions that follow.Consumers increasingly expect brands to have not just functional benefits but a social purpose. As a result, companies are taking social stands in very visible ways. Airbnb used a Super Bowl ad to publicly cement its commitment to diversity. Tecate, based in Mexico, is investing heavily in programs to reduce violence against women, and Vicks, a P&G brand in India, supports child-adoption rights for transgender people. Brands increasingly use social purpose to guide marketing communications, inform product innovation, and steer investments toward social cause programs. And that's all well and good when it works. But missteps are common, and they can have real consequences.Countless well-intentioned social-purpose programs have consumed resources and management time only to end up in obscurity. Sometimes they backfire because the brand messages designed to promote them anger or offend customers - or they simply go unnoticed because they fail to resonate. Other times, managers use these initiatives solely to pursue intangible benefits such as brand affection or as a means to communicate the company's corporate social responsibility, without consideration of how they might be able to create business value for the firm.To develop a social purpose strategy, managers should begin by identifying a set of social or environmental needs to which the brand can make a meaningful contribution. (For simplicity, we'll use the term "social needs" to refer to both social and environmental concerns.) Few brands are likely to start with a blank slate - most have corporate social responsibility programs under way, some of which could become relevant aspects of the brand's value proposition. Yet focusing on only those initiatives could limit the potential of a purpose-driven brand strategy or divert marketing resources meant to stimulate the brand's growth toward corporate initiatives. To create a more comprehensive set of choices, managers should explore social purpose ideas in three domains: brand heritage, customer tensions, and product externalities.Of the many benefits a brand may confer, only a few are likely to have defined the brand from the start and be the core reason for its success. Since its launch, in 1957, Dove has been promoted as a beauty bar, not a soap. Enhancing beauty has always been central to its value proposition. Therefore, it makes sense that Dove focuses on social needs tied to perceptions of beauty.Finally, examine your product's or industry's externalities - the indirect costs borne or benefits gained by a third party as a result of your products' manufacture or use. For instance, the food and beverage industry has been criticized for the contribution of some of its products to the increasing rates of childhood obesity. It has also faced concerns about negative health effects resulting from companies' use of artificial ingredients and other chemicals in their products. Panera Bread's decision to position its offerings as "clean food" - made without "artificial preservatives, sweeteners, flavours, or colours from artificial sources" - is a direct response to a social need created by industry externalities.Managers often have the best intentions when trying to link their brands with a social need, but choosing the right one can be difficult and risky and has long-term implications. Competing on social purpose requires managers to create value for all stakeholders - customers, the company, shareholders, and society at large - merging strategic acts of generosity with the diligent pursuit of brand goals.Q. It can be inferred from the passage that the author is most likely to disagree with which of the following statements?a)Part of the reason why corporate social responsibility does not pay is that only a handful or consumers know or care about the environmental or social records of more than a handful of firms.b)To assume that the business environment has fundamentally changed and that we are entering a new world in which corporate social responsibility has become critical to the success of all or even most firms is misinformed.c)Demonstrating worthy corporate social responsibility is an important aspect of an organization's higher purpose.d)A company jumping on the corporate social responsibility bandwagon just for show or greenwashing doesn't fool its employees or consumers.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Read the following passage carefully and answer the questions that follow.Consumers increasingly expect brands to have not just functional benefits but a social purpose. As a result, companies are taking social stands in very visible ways. Airbnb used a Super Bowl ad to publicly cement its commitment to diversity. Tecate, based in Mexico, is investing heavily in programs to reduce violence against women, and Vicks, a P&G brand in India, supports child-adoption rights for transgender people. Brands increasingly use social purpose to guide marketing communications, inform product innovation, and steer investments toward social cause programs. And that's all well and good when it works. But missteps are common, and they can have real consequences.Countless well-intentioned social-purpose programs have consumed resources and management time only to end up in obscurity. Sometimes they backfire because the brand messages designed to promote them anger or offend customers - or they simply go unnoticed because they fail to resonate. Other times, managers use these initiatives solely to pursue intangible benefits such as brand affection or as a means to communicate the company's corporate social responsibility, without consideration of how they might be able to create business value for the firm.To develop a social purpose strategy, managers should begin by identifying a set of social or environmental needs to which the brand can make a meaningful contribution. (For simplicity, we'll use the term "social needs" to refer to both social and environmental concerns.) Few brands are likely to start with a blank slate - most have corporate social responsibility programs under way, some of which could become relevant aspects of the brand's value proposition. Yet focusing on only those initiatives could limit the potential of a purpose-driven brand strategy or divert marketing resources meant to stimulate the brand's growth toward corporate initiatives. To create a more comprehensive set of choices, managers should explore social purpose ideas in three domains: brand heritage, customer tensions, and product externalities.Of the many benefits a brand may confer, only a few are likely to have defined the brand from the start and be the core reason for its success. Since its launch, in 1957, Dove has been promoted as a beauty bar, not a soap. Enhancing beauty has always been central to its value proposition. Therefore, it makes sense that Dove focuses on social needs tied to perceptions of beauty.Finally, examine your product's or industry's externalities - the indirect costs borne or benefits gained by a third party as a result of your products' manufacture or use. For instance, the food and beverage industry has been criticized for the contribution of some of its products to the increasing rates of childhood obesity. It has also faced concerns about negative health effects resulting from companies' use of artificial ingredients and other chemicals in their products. Panera Bread's decision to position its offerings as "clean food" - made without "artificial preservatives, sweeteners, flavours, or colours from artificial sources" - is a direct response to a social need created by industry externalities.Managers often have the best intentions when trying to link their brands with a social need, but choosing the right one can be difficult and risky and has long-term implications. Competing on social purpose requires managers to create value for all stakeholders - customers, the company, shareholders, and society at large - merging strategic acts of generosity with the diligent pursuit of brand goals.Q. It can be inferred from the passage that the author is most likely to disagree with which of the following statements?a)Part of the reason why corporate social responsibility does not pay is that only a handful or consumers know or care about the environmental or social records of more than a handful of firms.b)To assume that the business environment has fundamentally changed and that we are entering a new world in which corporate social responsibility has become critical to the success of all or even most firms is misinformed.c)Demonstrating worthy corporate social responsibility is an important aspect of an organization's higher purpose.d)A company jumping on the corporate social responsibility bandwagon just for show or greenwashing doesn't fool its employees or consumers.Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Read the following passage carefully and answer the questions that follow.Consumers increasingly expect brands to have not just functional benefits but a social purpose. As a result, companies are taking social stands in very visible ways. Airbnb used a Super Bowl ad to publicly cement its commitment to diversity. Tecate, based in Mexico, is investing heavily in programs to reduce violence against women, and Vicks, a P&G brand in India, supports child-adoption rights for transgender people. Brands increasingly use social purpose to guide marketing communications, inform product innovation, and steer investments toward social cause programs. And that's all well and good when it works. But missteps are common, and they can have real consequences.Countless well-intentioned social-purpose programs have consumed resources and management time only to end up in obscurity. Sometimes they backfire because the brand messages designed to promote them anger or offend customers - or they simply go unnoticed because they fail to resonate. Other times, managers use these initiatives solely to pursue intangible benefits such as brand affection or as a means to communicate the company's corporate social responsibility, without consideration of how they might be able to create business value for the firm.To develop a social purpose strategy, managers should begin by identifying a set of social or environmental needs to which the brand can make a meaningful contribution. (For simplicity, we'll use the term "social needs" to refer to both social and environmental concerns.) Few brands are likely to start with a blank slate - most have corporate social responsibility programs under way, some of which could become relevant aspects of the brand's value proposition. Yet focusing on only those initiatives could limit the potential of a purpose-driven brand strategy or divert marketing resources meant to stimulate the brand's growth toward corporate initiatives. To create a more comprehensive set of choices, managers should explore social purpose ideas in three domains: brand heritage, customer tensions, and product externalities.Of the many benefits a brand may confer, only a few are likely to have defined the brand from the start and be the core reason for its success. Since its launch, in 1957, Dove has been promoted as a beauty bar, not a soap. Enhancing beauty has always been central to its value proposition. Therefore, it makes sense that Dove focuses on social needs tied to perceptions of beauty.Finally, examine your product's or industry's externalities - the indirect costs borne or benefits gained by a third party as a result of your products' manufacture or use. For instance, the food and beverage industry has been criticized for the contribution of some of its products to the increasing rates of childhood obesity. It has also faced concerns about negative health effects resulting from companies' use of artificial ingredients and other chemicals in their products. Panera Bread's decision to position its offerings as "clean food" - made without "artificial preservatives, sweeteners, flavours, or colours from artificial sources" - is a direct response to a social need created by industry externalities.Managers often have the best intentions when trying to link their brands with a social need, but choosing the right one can be difficult and risky and has long-term implications. Competing on social purpose requires managers to create value for all stakeholders - customers, the company, shareholders, and society at large - merging strategic acts of generosity with the diligent pursuit of brand goals.Q. It can be inferred from the passage that the author is most likely to disagree with which of the following statements?a)Part of the reason why corporate social responsibility does not pay is that only a handful or consumers know or care about the environmental or social records of more than a handful of firms.b)To assume that the business environment has fundamentally changed and that we are entering a new world in which corporate social responsibility has become critical to the success of all or even most firms is misinformed.c)Demonstrating worthy corporate social responsibility is an important aspect of an organization's higher purpose.d)A company jumping on the corporate social responsibility bandwagon just for show or greenwashing doesn't fool its employees or consumers.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Read the following passage carefully and answer the questions that follow.Consumers increasingly expect brands to have not just functional benefits but a social purpose. As a result, companies are taking social stands in very visible ways. Airbnb used a Super Bowl ad to publicly cement its commitment to diversity. Tecate, based in Mexico, is investing heavily in programs to reduce violence against women, and Vicks, a P&G brand in India, supports child-adoption rights for transgender people. Brands increasingly use social purpose to guide marketing communications, inform product innovation, and steer investments toward social cause programs. And that's all well and good when it works. But missteps are common, and they can have real consequences.Countless well-intentioned social-purpose programs have consumed resources and management time only to end up in obscurity. Sometimes they backfire because the brand messages designed to promote them anger or offend customers - or they simply go unnoticed because they fail to resonate. Other times, managers use these initiatives solely to pursue intangible benefits such as brand affection or as a means to communicate the company's corporate social responsibility, without consideration of how they might be able to create business value for the firm.To develop a social purpose strategy, managers should begin by identifying a set of social or environmental needs to which the brand can make a meaningful contribution. (For simplicity, we'll use the term "social needs" to refer to both social and environmental concerns.) Few brands are likely to start with a blank slate - most have corporate social responsibility programs under way, some of which could become relevant aspects of the brand's value proposition. Yet focusing on only those initiatives could limit the potential of a purpose-driven brand strategy or divert marketing resources meant to stimulate the brand's growth toward corporate initiatives. To create a more comprehensive set of choices, managers should explore social purpose ideas in three domains: brand heritage, customer tensions, and product externalities.Of the many benefits a brand may confer, only a few are likely to have defined the brand from the start and be the core reason for its success. Since its launch, in 1957, Dove has been promoted as a beauty bar, not a soap. Enhancing beauty has always been central to its value proposition. Therefore, it makes sense that Dove focuses on social needs tied to perceptions of beauty.Finally, examine your product's or industry's externalities - the indirect costs borne or benefits gained by a third party as a result of your products' manufacture or use. For instance, the food and beverage industry has been criticized for the contribution of some of its products to the increasing rates of childhood obesity. It has also faced concerns about negative health effects resulting from companies' use of artificial ingredients and other chemicals in their products. Panera Bread's decision to position its offerings as "clean food" - made without "artificial preservatives, sweeteners, flavours, or colours from artificial sources" - is a direct response to a social need created by industry externalities.Managers often have the best intentions when trying to link their brands with a social need, but choosing the right one can be difficult and risky and has long-term implications. Competing on social purpose requires managers to create value for all stakeholders - customers, the company, shareholders, and society at large - merging strategic acts of generosity with the diligent pursuit of brand goals.Q. It can be inferred from the passage that the author is most likely to disagree with which of the following statements?a)Part of the reason why corporate social responsibility does not pay is that only a handful or consumers know or care about the environmental or social records of more than a handful of firms.b)To assume that the business environment has fundamentally changed and that we are entering a new world in which corporate social responsibility has become critical to the success of all or even most firms is misinformed.c)Demonstrating worthy corporate social responsibility is an important aspect of an organization's higher purpose.d)A company jumping on the corporate social responsibility bandwagon just for show or greenwashing doesn't fool its employees or consumers.Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice CAT tests.