Explain Corporate Social Responsibility and Why So Many Companies Are

question 9

Essay

Explain corporate social responsibility and why so many companies are embracing it. Give some examples of ways companies are good corporate citizens.

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Definitions:

Demand Fluctuates

Demand fluctuates refers to the constant variations in consumer desire for products or services, which can be influenced by factors like season, price, and trends.

Pollution Laws

Legislation and regulations designed to control or reduce the release of harmful substances into the environment.

Competitive Industry

An industry characterized by many firms, free entry and exit, and products that are similar but differentiated.

Cost Advantages

Economic benefits enjoyed by a company that can produce goods or services at a lower cost compared to its competitors, often due to greater efficiency or economies of scale.