Question $19$

Since its inception in $2015,$ ever year, MOBO sponsors the Lagos Fashion Fair that raises money for various food banks.

However, due to the pandemic, business at MOBO is way down, and the firm cannot afford to sponsor the style show.

On these facts, which statement about the pyramid of corporate social responsility is TRUE?

Social responsibility efforts should be focused on the external and not the internal stakeholders of a corporation.

Legal responsibilities boil down to do no harm.

If a company does not make a profit, then the other three responsibilities$-$legal, ethical, and philanthropic$-$are moot.

Philanthropy should be the most important function of a corporation.

Ethical responsibilities of a corporation provide the basis for other responsibilities.