Which of the following concepts is aimed at minimizing negative impacts while maximizing benefits for society and the environment?

The concept that focuses on minimizing negative impacts while maximizing benefits for society and the environment is Corporate Social Responsibility (CSR). CSR emphasizes the importance of companies taking responsibility for their actions beyond profit generation, including their social, economic, and environmental impacts. The fundamental goal of CSR is to create a positive influence on society by addressing issues such as sustainability, ethical labor practices, community engagement, and environmental stewardship.

In practice, CSR initiatives can manifest as sustainable sourcing, charitable contributions, employee volunteering, and implementing environmentally friendly processes. This multifaceted approach helps organizations balance their profit motives with societal needs, ultimately fostering a more sustainable and socially responsible business model.

While business ethics refers to the principles and standards that govern the conduct of individuals and groups in the organization, and corporate governance involves the systems and processes that direct and control a corporation, neither specifically encapsulates the broader societal and environmental concerns that CSR addresses. Risk management, although essential for identifying and mitigating potential adverse effects on the business, does not inherently focus on maximizing societal benefits. Therefore, CSR is the most appropriate choice for this question.