Final answer:
The four levels of social responsibility are legal, economic, ethical, and philanthropic, representing the various obligations that businesses have towards society, beyond just profitability and legal compliance to include ethical practices and voluntary community contributions.
Step-by-step explanation:
Understanding Social Responsibility Levels
The concept of social responsibility encompasses a spectrum of obligations that businesses have towards society. The correct answer to your question about the four levels of social responsibility is: d. Legal, economic, ethical, and philanthropic.
Economic responsibility refers to the foundational requirement for businesses to be profitable and economically viable, which includes fulfilling obligations to shareholders and investors. Legal responsibility involves adhering to laws and regulations in the areas where the business operates. Ethical responsibility goes beyond legal requirements and entails conducting business in a manner that is right and just, even when not mandated by law. Finally, philanthropic responsibility is seen as the corporate citizenship aspect, wherein businesses voluntarily contribute to the community or societal causes to improve quality of life.
This four-part framework assists in evaluating and guiding a business's role in society, ensuring that beyond personal and civic duties, they also take into account the broader social, environmental, and economic impacts of their operations. It also reflects a balancing act between individual rights, societal needs, and the role of government in regulating business practices.