Question

Which of the following statements regarding a company's social responsibility and sustainability strategy is FALSE?

Answer 1

The correct answer is A) A company is not demonstrating an adequate degree of social responsibility or endeavoring to be a model corporate citizen unless it spends 5 percent (or more) of pretax profits on social responsibility initiatives.

The statement regarding a company's social responsibility and sustainability strategy is FALSE is the following: "A company is not demonstrating an adequate degree of social responsibility or endeavoring to be a model corporate citizen unless it spends 5 percent (or more) of pretax profits on social responsibility initiatives."

To show social responsability and sustainability conduct, a company is not obligated to spends any fixed amount of money on campaigns or actions. What the company needs to do is to launch the kinds of programs that show a true compromise to respect the environment, support social causes, and incorporate social responsibility statements in its mission, vision, and values.

Answer 2

Answer:

A company is not demonstrating an adequate degree of social responsibility or endeavoring to be a model corporate citizen unless it spends 5 percent (or more) of pretax profits on social responsibility initiatives.

Explanation:

Social responsibility is an ethical framework and suggests that an entity, be it an organization or individual, has an obligation to act for the benefit of society at large. Social responsibility is a duty every individual has to perform so as to maintain a balance between the economy and the ecosystems.

A sustainability or corporate responsibility strategy is a prioritised set of actions. It provides an agreed framework to focus investment and drive performance, as well as engage internal and external stakeholders.