Business Studies

All definitions of Corporate Social Responsibility recognize that __________.


ANSWER

companies have a responsibility for their impact on society and environment


SOLUTION
Corporate Social Responsibility  is a concept whereby companies not only consider their profitability and growth, but also the interests of society and the environment by taking responsibility for the impact of their activities on stakeholders, environment, consumers, employees, communities, and all other members of the public sphere. The basic premise is that when the corporations get bigger in size, apart from the economic responsibility of earning profits, there are many other responsibilities attached to them which are more of non-financial/social in nature. These are the expectations of the society from these corporate to give something in return to the society with whose explicit or implicit help these entities stand where they are. 

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Single Correct Medium Published on 18th 08, 2020
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