The Definition of What Is and Is Not Socially Responsible

question 47

Multiple Choice

The definition of what is and is not socially responsible is ______.

• A)universally understood across cultures
• B)established in the United Nations' Principles of Responsible Management Education (PRME)
• C)primarily determined by laws and government regulations
• D)changing all the time and up to stakeholders to determine

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Definitions:

Business Judgment Rule

A legal principle that protects company directors and officers from liability for decisions made in good faith and believed to be in the best interest of the company.

Indemnified

Protected against financial loss or compensated for loss or damage, often through insurance or indemnity clauses in contracts.

Litigation

The legal process of resolving disputes or claims between parties in court.

Personal Interests

Activities, hobbies, or subjects a person enjoys or finds important, often influencing their choices and actions on a personal level.