Answer to Question 1
Social responsibility is the obligation of a business to contribute to society. Similar to ethics, the broad definition is clear, but specific implementation can be complex. Obviously, the number-one goal of any business is long-term profits; without profits, other contributions are impossible. But once a firm achieves a reasonable return, the balancing act begins: how can a company balance the need to contribute against the need to boost profits, especially when the two conflict? The answer depends on the business's values, mission, resources, and management philosophy, which lead in turn to its position on social responsibility. Business approaches fall across the spectrum, from no contribution to proactive contribution.
Answer to Question 2
False
