In the past, organizations only focused on profits and following the laws that governed corporations. Now, companies are committed to making the world a better place through ______.

Question

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Corporate social responsibility refers to a company's commitment to act ethically and contribute to economic development while improving the quality of life of its employees, their families, the local community, and society at large. This concept goes beyond merely maximizing profits and obeying the laws, as it involves engaging in sustainable practices, caring for the environment, and giving back to society. Gender equity, reducing labor costs, and work-life balance may be important issues that companies should address, but they are not as comprehensive and forward-looking as corporate social responsibility.

In the Past, Organizations Only Focused on Profits and Following