How is corporate social responsibility defined?

Question

Quizplus · Accepted Answer

Corporate social responsibility (CSR) is the concept that businesses have an obligation to act in ways that benefit society, not just their own interests. It involves companies taking responsibility for the impact of their activities on customers, employees, communities, and the environment. Thus, the concern for social welfare by businesses is the most accurate definition of CSR. Choice A is incorrect because CSR goes beyond legal compliance to promote ethical behaviour. Choice B is incorrect because developing codes of ethics is just one aspect of CSR, not its entire definition. Choice C is incorrect because CSR is not about attaining social rewards, but about fulfilling responsible business practices.

How Is Corporate Social Responsibility Defined