if a business uses part of its profit to develop the area where it operates, the business is fulfilling its?

Assessment: WAEC SSCE - Commerce - 2016 (Objective) Subject: Commerce

Question 1 Report

if a business uses part of its profit to develop the area where it operates, the business is fulfilling its?

Answer Details
If a business uses part of its profit to develop the area where it operates, it is fulfilling its social responsibility. Social responsibility refers to a business's ethical obligations to consider the interests of society, including the community, the environment, and its employees, beyond its legal and economic obligations. Fulfilling social responsibility often involves initiatives such as community development, charitable donations, and environmentally friendly practices.
Read lesson note on Business Environment And Social Responsibility (JAMB)
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