Question

Under the concept of Corporate Social Responsibility:

A)	A company need only make a good-faith effort to obey applicable laws.

B)	Understand that legal rules set the minimum standard for business.

C)	A business need do no more than comply with applicable laws.

D)	All of the above.

Answer 1

The correct answer is option B.

Corporate social responsibility is nothing but the step taken by the organization which is beneficial for the society. Organizations is an instrument of domination and act as a single dominant system for the society whose presence or absence affects the society as a whole. So, socially responsible management refers to the management practices to run a business giving more importance to the society and how the business can be beneficial for the society.