Which term refers to the commitment of a business to operate in a socially responsible manner?

The commitment of a business to operate in a socially responsible manner is best described by the term "Social Responsibility." This concept encompasses the idea that companies should not only focus on profit generation for shareholders but also consider the broader implications of their operations on society and the environment. Social responsibility implies that businesses have an obligation to act ethically and contribute positively to the communities in which they operate, ensuring that their activities do not harm people or the planet.

While terms like Corporate Accountability, Business Ethics, and Regulatory Compliance are related to business practices and responsibilities, they do not fully encapsulate the broader commitment to societal wellbeing that social responsibility implies. Corporate Accountability focuses more on the accountability of a corporation to its stakeholders and the transparency of its operations. Business Ethics pertains to the moral principles that guide the conduct of a business and its decision-making processes. Regulatory Compliance refers specifically to adhering to laws and regulations imposed by governments or industry standards. Each of these concepts plays a role in corporate governance and practice, but it is the term "Social Responsibility" that comprehensively covers a business's obligation to act for the benefit of society.