Question

There is no benefit to being socially responsible. That is why most Fortune 500 companies ignore CSR programs or have only informal ones in place.
a. True
b. False

Answer 1

Answer:

False.

Explanation:

Corporate social responsibility (CSR) can be defined as a strategic management concept which typically involves socially contributing to the growth and development of the people, community and the world at large. Some examples of CSR programs are building of roads, provision of electricity, water supply, establishing health care centers, awarding scholarships etc.

There is a benefit to being socially responsible. As a matter of fact, most Fortune 500 companies adopt CSR programs because it makes them to be socially conscious of their environment and builds their brand extensively.