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The concept of social responsibility of business refers to the idea that companies should not only focus on profit maximization but also consider their impact on society and the environment. This includes ethical practices, sustainable operations, and contributions to community welfare. Businesses are expected to balance stakeholder interests, including employees, customers, and the broader community, fostering positive relationships and long-term value. Ultimately, social responsibility promotes a more ethical and sustainable approach to business operations.

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1w ago

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