Final answer:
A firm undertaking corporate social initiatives is engaging in activities that benefit society beyond its immediate financial interests.
Step-by-step explanation:
When a firm undertakes corporate social initiatives, it is engaging in activities that aim to benefit society beyond its immediate financial interests.
These initiatives can include environmental sustainability programs, philanthropic endeavors, employee volunteer programs, and ethical business practices.
By investing in these initiatives, firms can improve their reputation, build customer loyalty, attract talented employees, and contribute positively to the communities they operate in.