The concept that proposes private corporations have responsibilities to society that extend beyond making a profit is known as

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Social responsibility is the concept that suggests companies should not only focus on maximizing profits but also take into account the impact their actions have on society and the environment. They have a duty to improve the well-being of society as a whole. This means considering the interests of stakeholders such as employees, customers, and local communities, and taking steps to minimize negative social and environmental impacts.

The Concept That Proposes Private Corporations Have Responsibilities to Society