What does corporate social responsibility (CSR) entail?

Corporate social responsibility (CSR) is fundamentally about a company's commitment to conducting business in an ethical manner while actively contributing to societal goals and improving the quality of life for its stakeholders, which includes employees, customers, communities, and the environment. This encompasses a broad range of activities, such as implementing sustainable business practices, engaging in charitable giving, and ensuring fair labor practices.

CSR reflects an understanding that companies have a responsibility beyond merely generating profit; they play a crucial role in the welfare of society and the environment. By embracing CSR, businesses can enhance their reputation, foster customer loyalty, and contribute positively to their community, which ultimately can lead to long-term profitability and success.

The other choices reflect narrower or one-dimensional views of business strategy that do not encompass the holistic approach recognized in CSR principles. Maximizing profits, seeking global dominance, or cutting costs does not inherently address the broader impact of a company's operations and decision-making on society and the environment.