Corporate Social Responsibility Practices: Pathways for Inclusive and Sustainable Future

Abstract

With the expanding globalisation and persistent ecological issues, role of corporate social responsibility (CSR) has been redefined and aims to broaden the societal context within which it operates. CSR acts as a commitment for attaining inclusivity and community development to reflect a positive impact on the society. In an increasingly fastpaced global economy, CSR acts as enabler and driving force to attain sustained growth where markets, communities and the organisations can perform well together so to gain better access in making decisions and maximising the growth. Inclusiveness not only helps in increasing the growth rate of the economy but, it boosts the productivity and employment opportunities with sustainable long-term progress. In the age of stiff competitive market environment, there is a growing consensus in the minds of the individuals to contribute towards the betterment of the society and take keen interest in adopting sustainable business policies. With the enormous potential of fulfilling the expectations, we need more investments in human capital and the relation-building between the stakeholders and the society. Inclusivity and sustainability, the two very concepts are multi-dimensional in nature which leads to positive health outcomes, access to higher education, improved standards of living, development of skills, employment opportunities and thus, CSR acts as a core element of all these outcomes. Hence, CSR should be a gaining ground and the strategies must present the opportunities to gain profitability, value-driven business and economic growth with sound governance management systems.