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Discuss the importance of social responsibilities and financial decision making?
Wiki User
∙ 9y ago
Social responsibility refers the responsibility companies owe the community for doing business there. Financial decision are the decisions made that impact the finances of the organization.
Wiki User
∙ 9y ago
Social responsibilities in financial decision making are important as they ensure that businesses consider the impact of their actions on stakeholders, society, and the environment. Incorporating social responsibilities into financial decision making can lead to better long-term outcomes, improved reputation, and increased trust among customers and investors. Failure to consider social responsibilities can result in negative consequences such as reputational damage, lawsuits, and regulatory fines.
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