General Certificate of Secondary Education (GCSE) Business Practice Exam

The concept of 'corporate social responsibility' (CSR) encompasses a commitment to ethical business practices and contributions to society. This idea goes beyond merely focusing on profitability; it involves companies considering their impact on a range of stakeholders, including employees, customers, communities, and the environment.

By engaging in CSR, businesses strive for a balance between economic success and positive social and environmental outcomes. This includes adopting fair labor practices, reducing environmental impacts, investing in communities, and promoting transparency. It reflects a more holistic view of business performance, where companies are expected to operate sustainably and ethically while contributing positively to society.

The other options do not accurately reflect the essence of CSR. Focusing solely on maximizing profits ignores the broader responsibilities businesses hold, while legal obligations, such as tax payments, are merely compliance requirements and do not embody the proactive, ethical engagement that CSR entails. Maintaining high prices to maximize sales also misses the point that CSR is about responsible practices rather than just profit maximization. Therefore, the commitment to ethical business practices and contributions to society is the accurate representation of what CSR is all about.