A discussion on sustainable development and social responsibility in business

Moreover, he maintained, companies that did adopt "responsible" attitudes would be faced with more binding constraints than companies that did not, rendering them less competitive. That is, acting "responsibly" risks reducing profits or forgoing revenue in the name of social good.

Resources for this topic Corporate social responsibility CSR promotes a vision of business accountability to a wide range of stakeholders, besides shareholders and investors.

Key areas of concern are environmental protection and the wellbeing of employees, the community and civil society in general, both now and in the future. The concept of CSR is underpinned by the idea that corporations can no longer act as isolated economic entities operating in detachment from broader society.

Traditional views about competitiveness, survival and profitability are being swept away. Some of the drivers pushing business towards CSR include: The shrinking role of government In the past, governments have relied on legislation and regulation to deliver social and environmental objectives in the business sector.

Sustainability or Social Responsibility -- What's in a Name? | GreenBiz

Shrinking government resources, coupled with a distrust of regulations, has led to the exploration of voluntary and non-regulatory initiatives instead. Demands for greater disclosure There is a growing demand for corporate disclosure from stakeholders, including customers, suppliers, employees, communities, investors, and activist organizations.

Increased customer interest There is evidence that the ethical conduct of companies exerts a growing influence on the purchasing decisions of customers. In a recent survey by Environics Internationalmore than one in five consumers reported having either rewarded or punished companies based on their perceived social performance.

Corporate Social Responsibility - Global Environmental Health in the 21st Century - NCBI Bookshelf

Growing investor pressure Investors are changing the way they assess companies' performance, and are making decisions based on criteria that include ethical concerns. A separate survey by Environics International revealed that more than a quarter of share-owning Americans took into account ethical considerations when buying and selling stocks.

More on socially responsible investment can be found in the 'Banking and investment' section of the site. Competitive labour markets Employees are increasingly looking beyond paychecks and benefits, and seeking out employers whose philosophies and operating practices match their own principles.

In order to hire and retain skilled employees, companies are being forced to improve working conditions. Supplier relations As stakeholders are becoming increasingly interested in business affairs, many companies are taking steps to ensure that their partners conduct themselves in a socially responsible manner.

Some are introducing codes of conduct for their suppliers, to ensure that other companies' policies or practices do not tarnish their reputation. Some of the positive outcomes that can arise when businesses adopt a policy of social responsibility include:A panel discussion on Sustainable Development Corporate Social Responsibility – Road Map for MSMEs was organized by World Trade Centre (WTC) Bhubaneswar in association with Business Standard, a leading business daily of India.

Download Citation on ResearchGate | The Contribution of Corporate Social Responsibility to Sustainable Development | This paper considers the motivations for and nature of business contributions.

Social life is the least defined and least understood of the different ways of approaching sustainability and sustainable development. Social sustainability has had considerably less attention in public dialogue than economic and environmental sustainability.

social support, human rights, labour rights, placemaking, social responsibility. The social responsibility of international business: From ethics and the environment to CSR and sustainable development The energy dimensions of sustainable development: Discussion of complexities of reducing carbon emissions during growth: R.

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Van TulderInternational business, corporate social responsibility and sustainable development. Sustainable Development, Corporate Social Responsibility, Corporate Sustainability Introduction In recent years, the discussion about sustainability has risen above average.

Discussion Ch 9. Uploaded by Coty Sheme. Business Ethics Social Innovation and Sustainable. Development as Drivers of Business Growth” on page by Patrick Cescau, Group Chief Executive of Unilever.

It’s crazy to think, that about forty-five years ago corporate responsibility and sustainable development was hardly present. A belief.