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 profits to develop the area where it operates, it is fulfilling its social responsibilities. Social responsibilities refer to the obligations of a business to contribute to the well-being and improvement of society.
By investing in the development of the local area, the business is showing its commitment to the community and the people living there. This can be done through various means such as supporting education, healthcare, infrastructure projects, or environmental initiatives.
When a business fulfills its social responsibilities, it goes beyond its primary goal of making profits and considers the impact it has on society. It recognizes that it has a role to play in creating positive social change and improving the quality of life for the people in its community.
In summary, by using its profits to develop the area where it operates, the business is fulfilling its social responsibilities by contributing to the well-being and improvement of society.