What is the difference between corporate responsibility and philanthropy?
A) Corporate responsibility means to follow the law as it pertains to carbon emissions, natural resource use, and waste management.
B) Corporate responsibility focuses on the action of the business itself rather than donations of money and time.
C) Philanthropy is when a company changes its business practices to better serve its low-income customers.
D) Philanthropy means to align company goals with those of a non-profit firm so as to improve revenue.

Question

Quizplus · Accepted Answer

Corporate responsibility refers to the actions and behavior of a company towards society and the environment, including ethical practices and sustainability efforts. Philanthropy, on the other hand, is when a company makes donations of money and time to charitable causes but may not necessarily improve their own business practices. Therefore, option B is the correct answer as it highlights the difference between the two concepts, where corporate responsibility focuses on the company's actions, while philanthropy is focused on charitable donations.

What Is the Difference Between Corporate Responsibility and Philanthropy