Question

Which managerial concept suggests that "A business should consider the
social implications of its decisions”?
(A) Business ethics
(B) Change Management
(C) Corporate social responsibility (D) Business ecosystem

Answer 1

The answer is option C. The managerial concept of Corporate Social Responsibility suggests that a business should consider the social implications of its decisions.

Every business organization functions in society; without society, it cannot thrive. Corporate social responsibility is a way of the organization to pay back to society. The companies must evaluate every business decision taken from the point of view of the society and the effects that it will have on society.

Even customers today prefer organizations that have active CSR (corporate social responsibility) activities. Four significant practices of corporate social responsibility are Environmental efforts, Philanthropy, Ethical labour practices, Volunteering for social causes.

Answer 2

The managerial concept of Corporate Social Responsibility suggests that a business should consider the social implications of its decisions.

Option: C

Explanation:

• Every business organization is a part of a society and it has to function within the society.  

• It is important that they follow the norms and ethics of the society. Corporate Social Responsibility is necessary for every business organization to carry out its business by keeping the interest of society in mind.  

• They should evaluate their strategic business decisions in regards to society and the effect that it will have on society.  

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