Asked by Harvinder Singh on Sep 28, 2024

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The term used to express how a firm meets its stakeholder expectations of its economic, legal, ethical, and philanthropic responsibilities is

A) reputation.
B) corporate citizenship.
C) corporate ethical audit.
D) ethical citizenship.
E) fiduciary duties.

Corporate Citizenship

Refers to a company's responsibilities toward society. This concept emphasizes the importance of acting in a socially responsible manner that goes beyond profit-making.

Fiduciary Duties

Refers to the obligations of loyalty and care that fiduciaries owe to their clients or beneficiaries, ensuring their best interests are prioritized.

Ethical Audit

A systematic evaluation of an organization's ethical policies, practices, and culture to assess compliance with ethical standards and identify areas for improvement.

  • Comprehend the concept and significance of corporate citizenship and how firms meet stakeholder expectations.
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Verified Answer

BC
Brande Colemanabout 1 hour ago
Final Answer :
B
Explanation :
Corporate citizenship refers to a company's responsibility and obligation towards its stakeholders consisting of economic, legal, ethical, and philanthropic responsibilities, hence meeting stakeholder expectations. Reputation is a result of the company's actions and may influence stakeholder expectations, but it does not explicitly refer to meeting stakeholder expectations of responsibilities. Corporate ethical audit is a tool for assessing the company's ethics and compliance with ethical standards. Ethical citizenship is not a recognized term. Fiduciary duties are obligations of a company's directors and officers to act in the best interests of its stakeholders.