Fostering Sustainable Development: A Corporate Social Responsibility Approach

Abstract

Corporate social responsibility (CSR) is the sacrificing of profits in the social interest of the public for sustainable management in an economical, ecological and social manner. It is the use of assets responsibly to create a competitive advantage and promote sustainable development. It is a series of interventions by companies to ameliorate externalized impact or the avoidance of conflicts. This article argues that CSR could be used as a tool for the attainment of sustainable development in the global south. Our aim is that companies should understand the critical role that CSR could play and adopt a corporate strategy that would use CSR to advance and enhance the value of the organization, thereby positively to impact the society.

Tackling Climate Change in Africa through Corporate Social Responsibility

“…Corporate social responsibility (CSR) has been attributed to organizations' ongoing desire and need to foster social, economic, and environmental change through corporate intervention (Tencati et al, 2004;Lakshman et al, 2014). CSR, which covers a broad range of responsibilities expected of an organization towards society (Osobajo et al, 2019;Morsing and Schultz, 2006), has developed from relatively voluntary and uncoordinated practices to more explicit commitments towards stakeholder needs. The concept has been linked to other concepts like corporate citizenship, business ethics and corporate social performance because they share common themes such as accountability, ethics, morals and community (Schwartz and Carroll, 2008;Carroll and Shabana, 2010).…”