Final Answer:
Corporate Social Responsibility (CSR) is the practice of business ethics, involving a company's voluntary commitment to societal and environmental well-being. It goes beyond profit motives, encompassing ethical decision-making, sustainability, and community engagement.
Step-by-step explanation:
Corporate Social Responsibility (CSR) is best described as the ethical framework and commitment of a company to contribute positively to society beyond its core business activities. It involves integrating social and environmental concerns into a company's business operations and interactions with various stakeholders. The correct option among the provided choices is not explicitly mentioned, but the closest match is option D: "The practice of business ethics."
CSR goes beyond mere profit maximization and legal compliance. It entails a company's voluntary initiatives to address environmental sustainability, social justice, and ethical considerations. This includes actions such as philanthropy, environmental sustainability practices, fair labor practices, and community engagement.
By engaging in CSR, companies acknowledge their responsibility to operate in a manner that benefits society and the environment. This can involve ethical decision-making, transparency in business operations, and a commitment to sustainable practices. CSR is increasingly recognized as a key element of a company's reputation and can contribute to long-term success by building trust among customers, employees, investors, and the broader community.