What does corporate responsibility mean?

Question

Options

• ABusinesses have extended their sense of responsibility to consider the well being of society and the
• BBusinesses have to take responsibility for the impact they have on society and the local communities
• CBusinesses should always base their behavior on clear ethical principles like honesty, equity and

• A
  91% (29)
• B
  3% (1)
• C
  6% (2)

Explanation

Option A is correct because corporate responsibility is fundamentally about businesses voluntarily extending their sense of duty beyond profit-making to encompass the broader well-being of society - it's a proactive, self-imposed expansion of purpose, not just damage control.

Option B describes corporate accountability (owning the impact of your actions), which is a related but narrower concept focused on consequences rather than the broader, proactive ethos of corporate responsibility.

Option C describes business ethics - operating on moral principles like honesty and equity - which is a component of responsible behavior but not the defining concept of corporate responsibility itself.

Memory tip: Think of the word extended in Option A as the key - corporate responsibility is about businesses stretching their concern outward from shareholders to society at large, like a hand reaching beyond the company walls.

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