Top management at Lancer Distributing is convinced that they have a social responsibility to their community.They believe that they can have the greatest impact in this area through cash contributions to nonprofit organizations.This is an example of corporate:
A)guilt payments.
B)philanthropy.
C)structure and strategy.
D)short run profit maximization.

Question

Quizplus · Accepted Answer

The action of Lancer Distributing to make cash contributions to nonprofit organizations is an example of philanthropy, which is the act of promoting the welfare of others, especially by donating money to good causes. This particular action is a way for the company to exercise its corporate social responsibility, which includes taking actions that benefit society beyond what is legally required and enhancing the long-term interests of the company and its stakeholders.

Top Management at Lancer Distributing Is Convinced That They Have