Question

Which of the following definitions can be used to describe corporate philanthropy?

Multiple choice question.
a. The responsibility of a company to earn a profit which in turn benefits stakeholders
b. The act of an organization voluntarily donating some of its profits or resources to charitable causes
c. The relationship between an organization and its employees
d. The moral standards expected by a society
e. The process of an organization following the rules and regulations established by law

Answer 1

Corporate philanthropy refers to a company voluntarily donating profits or resources to charitable causes, aligning with social responsibility values. Therefore, the correct option is B.

Step-by-step explanation:

The definition that can be used to describe corporate philanthropy is 'The act of an organization voluntarily donating some of its profits or resources to charitable causes'. This reflects a trend in the corporate world embracing social responsibility, whereby businesses not only pursue profit but also contribute positively to society. Corporate philanthropy constitutes part of a company's ethical landscape, allowing them to act as responsible citizens within their community, potentially affecting social, economic, and environmental dimensions.