What is a business's obligation to follow desirable courses of action in terms of society's values and objectives called?

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Social responsibility refers to a business's obligation to follow desirable courses of action in terms of society's values and objectives. This includes taking into account the impact of its actions on stakeholders and the environment, as well as complying with necessary laws and regulations. Collectivism is a political and economic theory that emphasizes the collective ownership of resources and the means of production. Business ethics refers to the moral principles and values that guide behavior in the business world. Ethnocentrism refers to the belief in the superiority of one's own cultural or ethnic group.

What Is a Business's Obligation to Follow Desirable Courses of Action