Analyse the likely impact on HBG's costs and revenues of increasing its focus on corporate social responsibility (CSR).

Mark scheme

Marking points from the official mark scheme (May/June 2020). The mark or mark type is shown in brackets.

1. [Knowledge] Definition of CSR: this concept applies to those businesses that consider the interests of society by taking responsibility for the impact of their decisions and activities on customers, employees, communities and the environment
2. [Application] Reference to disabled access for families with babies / young children too
3. [Application] Reference to minimum wage
4. [Application] Reference to renewable energy
5. [Application] Increasing social awareness among the public
6. [Application] New conservation projects linked to environmental issues
7. [Application] Using independent social auditors
8. [Analysis] Providing better disabled / young family access at all properties could be expensive due to the historic nature of the buildings. However, this could increase visitor numbers and membership
9. [Analysis] Paying higher wages in advance of legal requirement would increase labour costs and reduce profitability. However, this could help reduce the labour turnover and motivate employees to work harder
10. [Analysis] Investing in renewable energy sources could be expensive but in long term save HBG money by reducing fixed costs
11. [Analysis] Paying for independent social auditors is expensive but provides publicity which can be used to attract more visitors and revenue