Question

The company that layton owns, the music box, is a family-owned company that has been in business for more than 100 years. Layton wants to give back to the people of the community to acknowledge their role in the store's success. He decides to donate a significant portion of the store's profits to a charity every year. Layton's decision is an example of __________ in action.

Answer 1

It is an example of not economic responsibility

Explanation:

• Economic responsibilities are the responsibilities which are the most basic social responsibilities of the business. When discharging the economic responsibilities, the business need to emerge as responsible socially through offering the productive jobs for the workforce and the tax payments to the government.

• Under this situation, the company is family owned, which want to offer the people who acknowledge the success through donating the store profits. So, it is an example of not an economic responsibility

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