Corporate Social Responsibility and Sustainable Development: Trends in Asia

Abstract

Sustainable development needs responsible corporations. Corporations should aim for sustainability of their development; that is, moving forward in developing all aspects dynamically in both internal and external aspects of the corporations. In other words, sustainable development ensures that a company grow with its resources, especially its intellectual resources and human capital and at the same time contribute to the community development and environmental preservation. The concepts of corporate social responsibility (CSR) and Sustainable Development (SD) developed in the West should not be adopted without proper adoption and adaptation to Asian values. Something that works well in the West may not work in Asia. Therefore CSR and sustainability development need to be acculturated to Asian environment and values to gain a success. This chapter will explore and discuss the development of CSR and sustainability development in major Asian countries: China, India, Indonesia, Japan, South Korea, and Singapore. China, India and Indonesia represent developing countries with large population while the last three countries represent developed countries. China, Japan, South Korea and Singapore share Asian values influenced by Confucian ethics, Indians root their values in Hinduism while Indonesian values are highly influenced by Islam.