Asked by Savannah Pulliam on Apr 24, 2024

verifed

Verified

___ refers to an organization's obligation to act in ways that serve its own interests as well as the interests of society at large.

A) A code of ethics
B) A moral code
C) A formal policy statement
D) Public accountability
E) Corporate social responsibility

Corporate Social Responsibility

A business approach that contributes to sustainable development by delivering economic, social, and environmental benefits for all stakeholders.

Formal Policy Statement

An official document that outlines an organization's policies, procedures, and guidelines on specific issues.

Public Accountability

The obligation of organizations or individuals to explain their decisions and actions to the public and to take responsibility for them.

  • Expound on the principles of corporate social responsibility, the power held by stakeholders, and the triple bottom line in the domain of organizational ethics.
verifed

Verified Answer

ZK
Zybrea KnightMay 02, 2024
Final Answer :
E
Explanation :
Corporate social responsibility (CSR) refers to the idea that businesses have a responsibility to act in ways that benefit society beyond just maximizing profits for their shareholders. This can include considerations such as environmental sustainability, ethical labor practices, and charitable giving. By engaging in CSR, organizations can build a positive reputation and improve relationships with stakeholders such as customers, employees, and local communities.