According to the textbook, why is corporate social responsibility increasingly crucial to business success?
A)CSR is not crucial to business success; it is just a recommendation for companies.
B)CSR initiatives ensure consumers spend more money at the business.
C)Businesses cannot be profitable without CSR initiatives.
D)It provides a mission and strategy around which a firm's multiple stakeholders can rally.

Question

Quizplus · Accepted Answer

Corporate social responsibility provides a mission and strategy around which a firm's multiple stakeholders can rally, including customers, employees, investors, communities, and regulators. In today's society, consumers and other stakeholders have higher expectations of businesses in terms of ethics, social and environmental impact, and transparency. If a company fails to meet these expectations, it risks losing its customer base and facing reputational damage. In contrast, if a company delivers on its CSR commitments, it can enhance its brand reputation, attract and retain talent, and build trust with local communities and regulators. Ultimately, CSR can contribute to long-term business success and sustainability.

According to the Textbook, Why Is Corporate Social Responsibility Increasingly