Which of the following statements is true of corporate social responsibility?
A)The primary responsibility of social welfare rests with governments and not business firms
B)The free market, not companies, should decide what is best for the world
C)Businesses have resources, so businesses should be given the chance to solve social problems
D)Businesses never perpetrate social problems as the primary objective of businesses is making profits

Question

Which of the following statements is true of corporate social responsibility?
A)The primary responsibility of social welfare rests with governments and not business firms​
B)The free market, not companies, should decide what is best for the world
C)Businesses have resources, so businesses should be given the chance to solve social problems
D)Businesses never perpetrate social problems as the primary objective of businesses is making profits​

Quizplus · Accepted Answer

Corporate social responsibility means that businesses have a responsibility to use their resources for the betterment of society beyond just making profits. This option acknowledges that businesses have resources and should be given the opportunity to use them to solve social issues. Option A is incorrect as although governments do play a role in social welfare, businesses also have a part to play. Option B is incorrect as it disregards the concept of social responsibility altogether. Option D is incorrect as businesses can contribute to social problems, knowingly or unknowingly, but addressing social issues is not the primary objective of CSR.

Which of the Following Statements Is True of Corporate Social