Sustainable development is the concept ofdevelopment that meets the demand and needs of the current generation without destroying the ability of future generations to meet their own needs.Thecorporate social responsibility (CSR) is a vast and way too complex and has got different aspects. In general CSR focuses on those activities which are taken by corporate having the aim as philanthropists. Activities of CSR are normally understood as being the way through which a company earns a balance of economic, environmental and social importance.
The strong adherence by some business organizations to contribute in the aspect of economic development while improving the quality of life of the work staff and their families as well as of the community and society at large. CSR has now become an increasingly important factor as economic globalization has eliminated. As businesses structure grows it is more important than ever before that they consider their effect on a country’s domestic occupancy. When it comes to sustainable development the CSR acknowledges the well being of all stakeholders and not only just company’s shareholders.
Focus on ethical values
The Company includes a social and ethical responsibility towards protective the surroundings. Recently this social and ethical responsibility is been backed by rules and laws. Several firms are focusing on environmental problems for their respective CSR activities. Sony, Panasonic are specializing in problems associated with surroundings like harmful gases, waste production and water contamination etc.
Focus on meeting needs
Major focus of development is the pleasure of human needs and desires such as food, clothing, shelter, occupations and an improved quality of life. Regarding sustainable development basic needs of all are highly supervised.
Focus on social, economic and environmental dimensions
Sustainable development involves social, economic and environmental dimensions which should be combined in order to achieve the goals and must be stabilized as interdependent
support of sustainable development. CSR towards the natural environment is a concept of organizing best practices due to which the corporate companies with strict rules and laws voluntarily take into consideration the impacts of their activities and operations on the environment in their business strategies. This helps in improving the quality of life and executing the concept of sustainable development.
Focus on stakeholder’s approach
During these operations corporate organizations tries to consider the interests of shareholders and stakeholders. All the participants concerned have an interest in the responsible behaviour of companies CSR play an important role in the decision-making process of the organization when they decide to involve in CSR activities. These decisions can affect the economic development of a community of a country.