Bachelor of General Studies (BGS) Degree Practice Exam

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Which statement is true regarding corporate social responsibility?

Business should avoid social issues
Corporations are only accountable for financial performance
Businesses must monitor and prevent social problems in advance
Both of these answers are correct

The correct answer is: Both of these answers are correct

The statement that businesses must monitor and prevent social problems in advance aligns perfectly with the principles of corporate social responsibility (CSR). CSR encompasses the idea that businesses have a duty to not only focus on profits but also consider their impact on society and the environment. This includes actively identifying potential social issues and taking steps to mitigate them before they escalate. By doing so, companies can contribute positively to the communities in which they operate, build a favorable reputation, and foster trust among stakeholders. While it's important to acknowledge that the other statements suggest an incomplete understanding of CSR, the emphasis on proactive measures regarding social problems in the selected statement strongly reflects the current expectations placed upon corporations. Recognizing and addressing social challenges is integral to CSR, as it illustrates a commitment to ethical practices and sustainable development.