Final answer:
Caroll's Pyramid consists of four fundamental responsibilities: economic, legal, ethical, and philanthropic, which define a corporation's progression from profit-making to societal contribution.
Step-by-step explanation:
The four fundamentals that Caroll's Pyramid consists of are economic responsibilities, legal responsibilities, ethical responsibilities, and philanthropic responsibilities. These layers represent a corporation's responsibilities progressing from basic to higher levels of societal contribution. At the base, economic responsibility entails being profitable, which is the foundation for all other responsibilities. Legal responsibilities involve obeying the law as society’s codification of right and wrong. Ethical responsibilities go beyond legal requirements and encompass doing what is right, just, and fair. Finally, at the top of the pyramid is philanthropic responsibility, which refers to corporate actions that are in response to society’s expectation for businesses to be good corporate citizens. This involves engaging in activities that promote welfare or goodwill, such as giving to charity or engaging in volunteerism.