In the past, many business decisions were based solely on a cost-benefit analysis and how they affected the bottom line. However, the realization that such decisions made by businesses have far-reaching effects on society has led to the development of ________.

Question

Quizplus · Accepted Answer

The theories of the social responsibility of business have developed in response to the understanding that business decisions have wide-ranging impacts on society, beyond just the financial bottom line. This concept emphasizes that businesses should also consider the social, environmental, and ethical implications of their decisions.

In the Past, Many Business Decisions Were Based Solely on a Cost-Benefit