Explain the concept of social responsibility in the business environment. How can   businesses be more socially responsible in today's world?

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Explain the concept of social responsibility in the business environment. How can

 

businesses be more socially responsible in today's world?

Expert Solution
Step 1: Define the term social responsibility:

 Social responsibility,  frequently referred to as commercial social responsibility( CSR) when applied to businesses and associations, is a conception that suggests these  realities have an ethical and moral obligation to consider the well- being and interests of society at large beyond their primary  thing of generating  gains. Social responsibility encompasses a range of  conduct and  enterprise aimed at addressing  colorful social and environmental issues,  similar as poverty, environmental sustainability, labor practices, and community development.   

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