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NEW QUESTION # 53
Which of the following statements best describes the potential risks associated with adopting ESG considerations?
Answer: B
Explanation:
Choice D- Greenwashing involves misleading claims about a company's environmental practices, which can result in significant backlash from consumers and stakeholders. If consumers discover that a company is not genuinely committed to sustainability, it can lead to a loss of trust, negative publicity, and a damaged brand reputation. Thus is the correct answer.
Incorrect answer:
Choice A- ESG initiatives encompass environmental, social, and governance factors, and all three components are interconnected. Ignoring any of these aspects can undermine the overall effectiveness of ESG strategies and fail to address comprehensive sustainability goals.
Choice B- While adopting ESG practices can lead to long-term benefits, such as improved brand loyalty and risk mitigation, it does not guarantee immediate financial returns or market leadership. The transition to sustainable practices often requires time and investment before yielding significant financial benefits.
Choice C- This option is incorrect. Implementing ESG practices does not eliminate regulatory scrutiny; in fact, it may increase it, as regulators are becoming more focused on corporate sustainability and accountability. Companies still need to comply with existing regulations and may face additional reporting requirements related to their ESG efforts.
Reference:
LO-1.1; Page 27; The risks and rewards of adopting ESG considerations in securing ethical and sustainable procurement and supply arrangements
NEW QUESTION # 54
A homeowner planning to purchase a new air conditioner notices an energy rating label on each model. This rating scheme provides details on the unit's energy efficiency, cooling capacity, and environmental impact. How does this information assist the buyer in making a decision?
Answer: D
Explanation:
Choice B - A rating scheme (such as an Energy Star rating or SEER rating) helps buyers understand how much electricity an air conditioner will use. This allows them to choose a model that is cost-effective and environmentally friendly. This is the correct answer Incorrect answer:
Choice A - Incorrect - A rating scheme does not make all air conditioners equal in performance. Instead, it helps buyers compare different models based on efficiency, cooling capacity, and energy consumption. Air conditioners may vary in technology, features, and effectiveness.
Choice C - A rating scheme does not indicate product lifespan. Durability depends on factors like brand, usage, maintenance, and build quality, which are not necessarily covered by the rating system.
Choice D- A higher price does not always mean better efficiency. Some expensive models may have extra features but still consume more energy. A rating scheme helps buyers focus on energy savings and performance rather than just cost.
Reference:
LO-3.2; Page 287; Role of industry standards and frameworks used by organizations in securing ESG considerations and ethical standards
NEW QUESTION # 55
A group of small-scale coffee farmers in a rural village has been receiving the Fairtrade Premium for their products. During a recent community meeting, they discuss how to allocate the premium funds for the upcoming year. Which of the following projects would best align with the principles of the Fairtrade Premium in addition to the fair trade price?
Answer: D
Explanation:
Choice B- This option aligns with the principles of Fair Trade, as the premium is intended to support projects that benefit the community as a whole, fostering development and sustainability.
Incorrect answer:
Choice A- While this might seem fair at first glance, the Fairtrade Premium is not meant for personal distribution. Its purpose is to fund collective projects that benefit the entire community, such as infrastructure, education, or health initiatives.
Choice C- This option does not align with the principles of equity and inclusivity. Fair Trade encourages using the premium to benefit the entire community, particularly the most vulnerable and marginalized groups, rather than focusing on individuals who are already advantaged.
Choice D- Providing funds to a single farmer for personal business expansion is not in line with the collective approach of Fair Trade. The premium is intended to address community-wide challenges and improve the shared resources and infrastructure for all.
Reference:LO-3.3; Page 305; Fairtrade standards that affect the workplace and producers and their implications for procurement and supply
NEW QUESTION # 56
A leading coffee retailer has launched an initiative to purchase raw materials, such as coffee beans, directly from farmers instead of through intermediaries like exporters. By adopting a partnership approach and investing in the local community, what is this practice called?
Answer: B
Explanation:
Choice C - The above practice is known as Direct Trade, where the buyer (in this case, the coffee retailer) works directly with the producers (farmers) without intermediaries such as exporters or traders. Direct Trade focuses on building strong relationships, ensuring fairer pricing for farmers, and often includes investments in the local community.
Incorrect answer:
Choice A - World Trade is a broad term that refers to the global exchange of goods and services and does not describe the specific practice of eliminating intermediaries.
Choice B - Fair Trade, while similar in its focus on ethical sourcing, operates under specific certification standards and often involves a governing body overseeing the supply chain.
Choice D- Trade Initiative is a general term and not a recognized practice like Direct Trade or Fair Trade.
Reference:
LO-3.3; Page 309; Fairtrade standards that affect the workplace and producers and their implications for procurement and supply
NEW QUESTION # 57
XYZ Corporation has been acquired by a global company that plans to centralize all sourcing activities and standardize processes. Which factor could help XYZ Corporation gain a competitive advantage through this centralization?
Answer: D
Explanation:
Choice B- Improved benchmarking and shared data can help a company agree on prices with global competitors and gain a competitive advantage. Option B is the correct answer.
Incorrect answer:
Choice A- Legal obligations have to be maintained from wherever the company is operating. Avoiding or adhering to legislations is not a competitive advantage.
Choice C- Competitive advantage can best be described as what sets an organization apart. Increased efficiency is the result of competitive advantage but not a competitive advantage itself.
Choice D- Increased due diligence activity resulting in lower governance of suppliers is not a competitive advantage for XYZ Corporation.
Reference:
LO-1.2; Page 63-65; Competitive advantage through global sourcing
NEW QUESTION # 58
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