Which term is used for actions that aim at helping vulnerable communities and supporting societal issues beyond profits?

Study for the SHRM US Employment Laws and Regulations Test. Use flashcards and multiple choice questions with hints and explanations. Get exam ready!

The term that accurately describes actions aimed at helping vulnerable communities and addressing societal issues beyond mere profit generation is Corporate Social Responsibility (CSR). CSR encompasses a broad range of initiatives that organizations undertake to contribute positively to society. This includes ethical labor practices, environmental stewardship, community engagement, and philanthropy, all designed to promote social good while still achieving business objectives.

CSR reflects a company's commitment to operating in an economically, socially, and environmentally sustainable manner, demonstrating accountability and a sense of responsibility to stakeholders, including employees, customers, and the communities in which they operate. By focusing on CSR, companies recognize that their operations can influence various aspects of society, and they are taking steps to ensure that they contribute positively.

While corporate philanthropy primarily focuses on charitable donations and contributions to social causes, CSR encompasses a broader scope of responsibilities including ethical business practices and long-term sustainability initiatives. Sustainable development relates specifically to the balance among economic growth, environmental protection, and social equity, but it does not encapsulate the full range of CSR activities. Community engagement, on the other hand, is an important aspect of CSR but is more about the interactions and partnerships with local communities rather than a comprehensive strategy for society-wide responsibilities.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy