Which of the Following Described the Social Responsibility of Business

Friedman writes There is one and only one social responsibility of business to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game which is to say engages in open and free competition without deception or. Which of the following approaches to social responsibility reflects the lowest degree of socially responsible practices.

Explain The Social Responsibility Of Business Social Responsibility Business Ethics Business

Addressing the compliance concerns of stakeholders in regards to legal and economic matters.

. Which of the following best describes the minimalist approach to corporate social responsibility CSR. Written and unwritten codes of principles and values that govern decisions and actions within a company. Social responsibility in business is also known as corporate social responsibility CSR corporate responsibility corporate citizenship responsible business sustainable responsible business.

2 Which of the following best describes social responsibility. Which of the following best describes a proactive stance to social responsibility. Employee time or other resources to various causes without regard for any.

Social responsibility in business is commonly known as Corporate Social Responsibility or CSR. Learn vocabulary terms and more with flashcards games and other study tools. Which is an example of social responsibility in the business world.

Social responsibility is the idea that an organization or individual is obligated to act to benefit society at largeie to maintain equilibrium between the economy and the ecosystem. Which of the following best describes social responsibility. Social responsibility means that individuals and companies have a duty to act in the best interests of their environment and society as a whole unit.

Adoption by a business of a strategic focus for fulfilling the economic legal ethical and philanthropic responsibilities expected of it by its stakeholders. The concept of Corporate Social Responsibility CSR is generally understood to mean that corporations have a degree of responsibility not only for the economic consequences of their activities but also for the social and environmental implications. Problems involving conflict between moral imperatives.

A company actively seeks opportunities to contribute to the well-being of groups and individuals in its social enviornment. Which is an example of social responsibility in the business world. What are the three requirements that business social requirements can be based on.

Social Responsibility of Business. Addresses the overall way in which a business attempts to balance its conflicting commitments to relevant groups and individuals in its social environment. No business exists in isolation.

Environmental responsibility initiatives aim to reduce pollution and greenhouse gas emissions and the sustainable use of natural resources. The concept of social responsibility in relation to business means that the firm functions to accomplish its financial objectives and serves the society as well. Which of the following best describes social responsibility.

A corporations rights such as due process in a court of law freedom of speech and privacy Adoption by a business of a strategic focus for fulfilling the economic legal ethical and philanthropic responsibilities expected of it by its stakeholders A companys attempt to maximize its profits in order to benefit stockholders. Start studying Chapter 4 Business Ethics and Corporate Social Responsibility. What is business ethics.

A feeling of responsibility or remorse for committing a wrong. A person whose behavior example or success is emulated by others especially by younger people. I chose answer D because all of these answer choices appropriately describe what social responsibility is pertaining to the business industry.

Truthfulness sincerity or frankness. Every business is obligated to. Obstructionist stance An automobile manufacturer learns about an ignition switch defect that may cause serious safety issues but rather than enact an expensive recall of hundreds of thousands of vehicles management covers it up.

The concept of removing all barriers to-and the facilitation of-free and easy public access to corporate information. These groups include employees investors local communities suppliers and customers. All of these answers Answer.

Everyones duty to maintain a balance between the ecosystem and the economy C. In the business world the term corporate social responsibility CSR refers to acts and policies taken by companies that are intended to have a beneficial impact on society. Generally corporate social responsibility initiatives are categorized as follows.

What is Corporate Social Responsibility CSR. The concept of corporate social responsibility CSR is founded on the assumption that firms should seek additional pro-social goals in addition to maximizing profits. Minimal responsibility primarily involves.

A company actively seeks opportunities to contribute to the well-being of. The four theories of the social responsibility of business are maximize profits moral minimum stakeholder interest and corporate citizenship. An organization or individuals ethical ideology to benefit society through actions taken B.

Conducting business while balancing the companys behavior with societys expectations D. Finance questions and answers. Social responsibility in business also known as corporate social responsibility CSR pertains to people and organizations behaving and conducting business ethically and with sensitivity towards social cultural economic and environmental issues.

Which of the following best describes a proactive stance to social responsibility. Corporate Social Responsibility Human Rights 2008 1. The requirement to reduce harmful impacts of business process and to contribute to improving society.

For any company this responsibility indicates that they acknowledge and appreciate the goals of the society and therefore would support. Which of the following describes the socioeconomic model of social responsibility. Incorporating efforts in such a way as to benefit all stakeholders of the company.

O a firm is obligated to act only in the economic interests of its shareholders O emphasizes profits as well as the effect of business decisions on society states that managers who concentrate on profit indirectly fulfil their social. Which of the following is the best explanation of corporate transparency. Socially responsible to investors.

All of these answers I chose answer D because social. Every organ of the society contributes towards the success of a business. Fulfilling social responsibilities including legal and ethical guidelines.

Social responsibility is a moral obligation on a company or an individual to take decisions or actions that is in favour and useful to society. All of these answer choices provide examples of social.

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