Correct Answer - Option 4 : 3
Concept:
Corporate social responsibility(CSR):
The title corporate social responsibility has two meanings. First, it’s a general name for any theory of the corporation that emphasizes both the responsibility to make money and the responsibility to interact ethically with the surrounding community. Second, corporate social responsibility is also a specific conception of that responsibility to profit while playing a role in broader questions of community welfare. Corporate social responsibility is composed of four obligations:
- Economic responsibility
- Legal responsibility
- Ethical responsibility
- Philanthropic responsibility
Theories of CSR:
The present practice of corporate social responsibility has been depicted and informed by three CSR theories:
- The stakeholder theory of CSR
- The business ethics theory of CSR
- The shareholder value theory of CSR
