Question

The argument that 'Consumers are an important stakeholder group, so their interests must be cared for' falls under which justification for consumer protection from the business point of view?

Options

• Social Responsibility

• Long-term Interest of Business

• Corporate social responsibility as a need for physical safety

• Government Intervention

Answer 1

'Social Responsibility' from the business point of view recognises that consumers are an important stakeholder group, and therefore business must care for their interests. It differs from the general 'need' list, where corporate social responsibility appears as a separate need for consumer protection.