What aspect of Corporate Social Responsibility is concerned with obeying laws and regulations?

The aspect of Corporate Social Responsibility (CSR) that is primarily concerned with obeying laws and regulations is the legal dimension. This dimension emphasizes the expectation that businesses must operate within the framework of laws that govern the industry and society in which they operate. Companies are obligated to adhere to the legislative rules that set standards for behavior to ensure fair competition and protect the rights of consumers, employees, and the broader community.

The legal aspect serves as the foundation upon which other elements of CSR are built. While ethical practices may extend beyond mere compliance with the law, ensuring that a company meets its legal responsibilities is crucial for fostering trust and maintaining a positive reputation in the marketplace. This facet of CSR also encompasses compliance with environmental regulations, labor laws, and other legal requirements, highlighting the importance of operating within the constructs set forth by governing bodies.

In contrast, the ethical dimension of CSR deals with moral principles guiding business decisions, focusing on what is right beyond legal obligations. The economical aspect refers to a company's responsibility to be profitable and to contribute to the economic welfare of the community, while the philanthropic dimension encompasses voluntary actions aimed at improving societal welfare, such as charitable contributions and community initiatives.