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Which of the following best describes the term 'corporate social responsibility'

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Question: Which of the following best describes the term \'corporate social responsibility\' (CSR)?

Options:

  1. Maximizing shareholder profits
  2. Minimizing operational costs
  3. Balancing profit-making with social good
  4. Focusing solely on environmental issues

Correct Answer: Balancing profit-making with social good

Solution: 

Corporate social responsibility (CSR) refers to the practice of balancing profit-making with social good and ethical considerations.

Which of the following best describes the term 'corporate social responsibility'

Practice Questions

Q1
Which of the following best describes the term 'corporate social responsibility' (CSR)?
  1. Maximizing shareholder profits
  2. Minimizing operational costs
  3. Balancing profit-making with social good
  4. Focusing solely on environmental issues

Questions & Step-by-Step Solutions

Which of the following best describes the term 'corporate social responsibility' (CSR)?
  • Step 1: Understand that 'corporate' refers to companies or businesses.
  • Step 2: Recognize that 'social responsibility' means being accountable for the impact of actions on society.
  • Step 3: Combine these ideas to see that corporate social responsibility (CSR) means companies should make money while also doing good for society.
  • Step 4: Realize that CSR involves ethical considerations, meaning companies should act in a way that is fair and just.
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