“A STUDY ON CORPORATE SOCIAL RESPONSIBILITY AND SUSTAINABLE DEVELOPMENT”

Abstract

Corporate social responsibility has evolved as a formalised practice in organizations for more than seven decades. These plans are developed through management and stakeholder participation to support socio economic and environmental sustainability. Organizations are seen as having the necessary resources, such as capital, workforce and technology to implement sustainable practices. A company can become socially sustainable through sound CSR procedures which assist businesses in operating in a way that enables them to be morally successful, but should never be at the expense of the environment or society. CSR practices have evolved into a new management strategy that goes beyond traditional philanthropy or social obligations, this modern approach to corporate social responsibility recognizes the potential for economic benefits linked to sustainable growth. Both CSR and sustainable developmental practices contribute to a company's reputation, customer loyalty, employee satisfaction, and long-term success. Organizations that demonstrate genuine commitment to these principles often enjoy improved public perception and a competitive advantage in a rapidly changing business landscape that emphasizes ethical and sustainable practices. The present paper examined the organizational practices towards corporate social responsibility and sustainable development. The data for the study was collected from various secondary sources and conclusions were drawn.