________ is defined as a business firm's obligation, beyond that required by law and economics, to pursue long-term goals that are good for society.
A)Social obligation
B)Social responsibility
C)Social screening
D)Value-based management
E)Social autonomy

Question

Quizplus · Accepted Answer

Social responsibility refers to a business firm's voluntary actions to improve the well-being of society beyond its economic and legal obligations. This can include efforts to protect the environment, promote ethical behaviors, and engage in philanthropic activities. Social responsibility goes beyond simply obeying the law and pursuing profit, and instead involves taking into account the impact of business actions on various stakeholders, including customers, employees, suppliers, and the broader community.

________ Is Defined as a Business Firm's Obligation, Beyond That