What is the term used to describe the concern that companies must perform their functions without harming the community or society?
Understand the Problem
The question is asking for the specific term that describes a company's obligation to operate without causing harm to society or the community, which relates to concepts of corporate responsibility.
Answer
Corporate social responsibility (CSR).
Corporate social responsibility (CSR) is the term used to describe the concern that companies must perform their functions without harming the community or society.
Answer for screen readers
Corporate social responsibility (CSR) is the term used to describe the concern that companies must perform their functions without harming the community or society.
More Information
Corporate social responsibility (CSR) is the concept where businesses integrate social and environmental concerns in their operations, which helps create a positive impact on the communities they serve.
Tips
A common mistake is confusing CSR with corporate governance. While governance deals with the internal control processes of a company, CSR focuses on the company's impact on society and the environment.
Sources
- Social Responsibility in Business: Meaning, Types, Examples, and ... - investopedia.com
