CSR Strategies for Promoting Sustainable Development in the Emerging Market: An Analytical Study

Abstract

Business can now address significant social environmental and economic issue under the framework of corporate social responsibility (CSR) this is especially true as corporate ethics and sustaianbility become more widely recognized. With rapid technological advancement, economic expansion and urbanization frequently accompanied by environmental degredation, social inequality, and governance problem, corporate social responsibility is crucial to fostering sustainable development in emerging economies. A weak regulatory structure, scarce resources and the stakeholder participation are some of the particular difficulties this sector faces. Years are covered in this study to examine how multinational corporations are implementing CSR initiatives in emerging economies in order to match them with the sustainable development goals ( SDGs) of the UN. They will focus on issues including social justice environmental sustainability, and poverty alleviation. Using case studies from the emerging economies, the article thoroughly examines the unique opportunities and problems associated with the application of CSR in emerging markets, where striking a balance between responsible corporate practice and economic success is crucial. This article gives useful insights into how CSR can be effectively used to promote long term economic growth, boost public wellbeing and assure environmental sustainability creating innovation, establishing strategic networks, incorporating CSR into core company strategy and promoting sustainable development. They also emphasize how crucial it is to boost stake holder participation in order to improve results.