What Is the Difference Between Corporate Responsibility and Philanthropy

question 68

Multiple Choice

What is the difference between corporate responsibility and philanthropy?

• A) Corporate responsibility means to follow the law as it pertains to carbon emissions, natural resource use, and waste management.
• B) Corporate responsibility focuses on the action of the business itself rather than donations of money and time.
• C) Philanthropy is when a company changes its business practices to better serve its low-income customers.
• D) Philanthropy means to align company goals with those of a non-profit firm so as to improve revenue.

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Definitions:

Coverage Of Insurance Policy

The specific risks, events, or damages that an insurance policy agrees to cover, including the limits and conditions.

Premium

The amount paid for an insurance policy, or the cost to acquire an option or financial instrument.

Declaratory Judgment

A court decision that resolves legal uncertainty for the parties involved, without requiring enforcement.

Liability Claim

A demand for compensation or remuneration made against an individual or entity responsible for causing harm or loss.