Corporate social responsibility has four components. Do you agree that public firms should address all four elements? Why or why not? If not, where should the firm draw the line? Please provide an example to explain your logic.

Corporate social responsibility has four components. Do you agree that public firms should address all four elements? Why or why not? If not, where should the firm draw the line? Please provide an example to explain your logic.

Foundations of Business (MindTap Course List)

6th Edition

ISBN:9781337386920

Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor

Chapter2: Ethics And Social Responsibility In Business

Section2.5C: The Pros And Cons Of Social Responsibility

Problem 5CC

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Concept explainers

Socioeconomic Model Of Social Responsibility

According to social responsibility, the business or the owner of a company should behave in such a way that to achieve the goal of making more profit out of the business, it should not cause any kind of loss or, harm or damage to society. The business should always look after their social responsibility which will not only benefit them but also the consumer living in the society. 

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