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Question 21 Corporate Social Responsibility (CSR)involves Businesses Acting Only Within the Requirements of the Law and for the Sole

Question

Question 21 Corporate social responsibility (CSR)involves businesses acting only within the requirements of the law and for the sole interest of their shareholders. True False 3 pts

Answer

4.7 (240 Votes)
Verificación de expertos
Eliza Elite · Tutor for 8 years

Answer

False

Explanation

## Step 1: Understand the Definition of CSRIn order to respond to this, we must first acknowledge what Corporate Social Responsibility (CSR) entails. CSR is a business model that consolidates a sense of responsibility towards the wellbeing of society and the environment as well as the interests of profit and growth for itself. ## Step 2: Assess the Statement The given statement mentions that CSR involves operating only within legal boundaries and solely according to their shareholders' obligations. This definition implies that businesses only comply with legal mandates and operate solely to benefit their shareholders. ## Step 3: Compare the Statement with the Definition of CSRGiven this assertion, it compared against the definition of CSR shows a misalignment. According to the existing definition of CSR, companies are responsible for more than merely meeting legal obligations and focusing solely on shareholder interests.