Business Studies

The areas like health and hygiene, public interest, philanthropic activities comes under _____________.


ANSWER

Corporate Social Responsibility


SOLUTION
Corporate social responsibility is a commitment to do more than just serve the needs and expectations of customers and shareholders. It can also mean going beyond business basics and serving a social need. 
Through corporate social responsibility programs, including responsible business practices, philanthropy and volunteer efforts, businesses can benefit society while boosting their brand. A CSR program cannot be implemented until a business is profitable. 
A company cannot benefit society if it does not adhere to labor and tax laws or applicable industry regulations. Ethical responsibilities include paying higher wages, offering employees better benefits, avoiding trade with unscrupulous companies or providing jobs to those who would otherwise have difficulty finding work. 
Corporate philanthropy ranges in size and scope, and can include everything from donating time to a local charity to building a children’s hospital.
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Single Correct Medium Published on 18th 08, 2020
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