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Corporate Social Responsibility (CSR) Involves Businesses Acting Only Within the Requirements of the Law and for the Sole Interest of

Question

Corporate social responsibility (CSR) involves businesses acting only within the requirements of the law and for the sole interest of their sharcholders. True False

Answer

4.2 (339 Votes)
Verificación de expertos
Ffion Master · Tutor for 5 years

Answer

False

Explanation

## Corporate Social Responsibility, or CSR, is a self-regulating business model that helps a company be socially accountable — to itself, its stakeholders, and the public. By practicing corporate social responsibility, also known as corporate citizenship, companies can be conscious of the type of impact they are having on all aspects of society, including economic, social, and environmental. ## Hence, stating that CSR involves businesses acting only within the requirements of the law and for the sole interest of their shareholders is incorrect. It extends beyond the boundaries of legal obligation on a company and demands a commitment towards the broader societal good.