CIMA BA4 · Chapter 8 · Question 1 of 10
Which of the following best describes corporate social responsibility (CSR)?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) The voluntary commitment of a business to act ethically and contribute to economic development while improving the quality of life of employees, communities and society
Explanation
CSR refers to an organisation taking responsibility for the impact of its activities on stakeholders and society beyond legal minimums. It is largely voluntary. Profit maximisation, taxes and audited accounts are legal or economic obligations, not CSR.
More Corporate social responsibility and sustainability MCQs
- Q3In Carroll's pyramid of corporate social responsibility, which responsibility forms the base of the pyramid?
- Q4Which view of CSR is most closely associated with the economist Milton Friedman?
- Q5A manufacturer pays suppliers in developing countries a fair price, monitors their labour conditions and refuses to use child labour…
- Q6Which of the following is the best example of sustainable business practice?
- Q7Which of the following is a likely business benefit of a strong CSR policy?