Awarding scholarships and sponsoring sports by a business organization are example of?

The act of awarding scholarships and sponsoring sports by a business organization is an example of social responsibility. Social responsibility refers to the idea that businesses should act in a way that benefits society as a whole, rather than solely focusing on making a profit. By awarding scholarships, a business is providing financial assistance to students who may not have the means to pursue higher education. This can have a positive impact on society by creating more opportunities for people to access education and ultimately contribute to society in meaningful ways. Sponsoring sports can also be seen as a form of social responsibility because it promotes physical activity and healthy lifestyles, which can have positive effects on individuals and society as a whole. It can also help support local communities by providing opportunities for people to come together and engage in activities. Overall, social responsibility is about businesses recognizing that they have a broader role to play in society beyond just making a profit, and taking actions to make a positive impact on the world around them.