The obligation of an organization to its stakeholders as well as its own interests is called __________.*
A) altruism
B) corporate social responsibility
C) philanthropy
D) corporate interest

Question

Quizplus · Accepted Answer

Corporate social responsibility refers to an organization's responsibility to consider the impacts of its activities on its stakeholders (including employees, customers, suppliers, and the wider community), as well as the organization's own interests. It involves taking voluntary actions to go beyond legal requirements and contribute to social and environmental goals. Altruism and philanthropy refer specifically to acts of giving and selflessness, while corporate interest only considers the organization's own interests without regard for stakeholders.

The Obligation of an Organization to Its Stakeholders as Well