Ankit Duttagupta
MD Maksudul Islam
Emad Rabiei Hosseinabad
Muhammad Adib Uz Zaman
Abstract
Corporate social responsibility (CSR) is an extension of the corporate role which encompasses the economic, legal, ethical and philanthropic responsibilities that a company must fulfill, such that it improves the overall quality of life of the community around it. Sustainable development (SD) on the other hand involves operations that have a minimal impact on the environment. However, in today’s global environment, governments around the world are implementing stricter environmental regulations and supporting higher standards of living for their citizens. This socially and environmentally conscious undertone, has made it imperative for organizations to address issues related to CSR and SD seriously and in many cases with the highest urgency. Adding to it, the views of the conscious and the well informed masses and organizations soon realize that implementing CSR and SD in their corporate strategy is not only a requirement to meet the standards set through government regulations, but it also plays a key role in maintaining the competitive advantages that an organization enjoys within its operating market segment thus safeguarding the long term economic feasibility of its various operations and overall profitability.
Keywords
Corporate social responsibility;Sustainable development;Economic impact;Operations;Corporate strategy
