Final answer:
The statement is False; CSR refers to a company's responsibility to the broader society and environment, not just to its own interests. Corporations should balance the interests of stakeholders, which includes more than just shareholders.
Step-by-step explanation:
The statement that corporate social responsibility (CSR) refers to a company's obligation to pursue goals and policies that are in a company's best interest is False. CSR actually refers to a company's responsibility to act in the best interests of the society and environment in which it operates while balancing stakeholder interests, which includes consideration of shareholders, employees, customers, and the community at large.
While corporations have a fiduciary obligation to their shareholders to maximize profit, this does not fully define CSR. True CSR also means considering the ethical implications of corporate actions and implementing strategies that promote social good beyond the company's immediate financial interest. Stakeholder theory specifically argues that corporations should balance the interests of all those impacted by the company's actions, not solely focus on shareholder gains.