Final answer:
Carroll's pyramid of corporate social responsibility entails four levels: economic, legal, ethical, and philanthropic responsibilities, which together form a framework for corporations to balance profit-making with societal benefits.
Step-by-step explanation:
The concept of corporate social responsibility (CSR) was articulated in detail by Archie Carroll, who illustrated it as a pyramid with four distinct levels. At the base of Carroll's pyramid is economic responsibility, where corporations are primarily responsible for producing goods and services that society desires and making a profit in the process. The second level is legal responsibility, which requires corporations to obey local, national, and international laws. The third tier represents ethical responsibility, which goes beyond legal requirements and addresses actions that are right, just, and fair, even when not mandated by laws. The peak of the pyramid is philanthropic responsibility, which encompasses actions that benefit society but are not required for profit-making or legal compliance. Companies face challenges in balancing these responsibilities, especially when it comes to the potential dangers of artificial intelligence and establishing ethical practices for emerging technologies. As globalization continues, multinational corporations also have to address their impact on politics, workers, and the environment in developing nations, ensuring they uphold their moral obligations toward all stakeholders.