Final answer:
Philanthropic responsibility describes the top part of the pyramid of global CSR, where companies engage in actions that go beyond legal and ethical obligations to fulfill the broader expectations of society, such as charity and community improvement efforts.
Step-by-step explanation:
In the pyramid of global corporate social responsibility and performance, doing what is desired by global stakeholders forms the top part of the pyramid and is known as philanthropic responsibility. This level of responsibility goes beyond the expectations of legal and ethical behavior and enters the realm of discretionary actions to support society's broader expectations. Corporations at this level engage in activities that are not necessarily mandated by laws or regulations but are expected by society to contribute positively to the well-being of the community and the environment.
Philanthropic responsibilities reflect the desire to promote human welfare or goodwill. Examples of philanthropic activities include donations to charities, community volunteer programs, and investments in community development. This is intertwined with the ideas of civil liberties and social responsibility, as corporations take actions that benefit the community and, in turn, often gain a more favorable public image.