Corporate Social Responsibility and Business Sustainability

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Advanced Business Practices
Name:
Course
Professor’s name
University name
City, State
Date of submission

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Introduction
Corporate social responsibility and business sustainability help in improving the
relationship between the society and the business. it is generally giving back to the community
what the community has been giving to you. It aims at improving the social economic and
sometimes environmental activities of a society. CSR is one of the advanced business practices
that has been embrased mostly by large multinationals and SMEs in order to build a good
relationship between the businesses and the people. Most of them are centred at improving the
livelihoods of the people through clinics, education sponsorships and environmental
sustainability issues (Epstein, 2018).
The world business council for sustainable development describes social responsibility as
a contribution by a business for sustainability of social economic development. Corporate social
responsibility is subject to compliance with laws, rules and regulations typically beyond the
limits set by the governing bodies. The activities include;
1. Social
2. Economic
3. Environmental
4. Energy sustainability activities.
Subject to compliance with laws and regulations, corporate social responsibility typically
includes beyond the limits set by law obligations and activities in the following areas:
Despite the fact that there is a steady interest in the phenomenon of social responsibility
of business in domestic science, among most people have not yet developed a consensus on the

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main characteristics of corporate responsibility, factors and conditions for the development of
social responsibility of business, which was one of the reasons for this study (Evangelista, 2014).
Strengthening CSR
These changes in strengthening of the CSR are consistent with strengthening the current
and future needs to meet human aspirations needs and potentials. The activities includes
consideration of social, economic and environmental factors, as well as their interrelation in the
organization’s management decisions and activities in general. In addition, I came to the
conclusion that the corporate social report is a tool for informing shareholders.
Importance of CSR and business sustainability
In the light of the above, the selected topic of the thesis seems to me very relevant. The
purpose of my research is to reveal the meaning of the concept of social responsibility in modern
business, to consider the main controversial issues related to social responsibility, as well as the
application of this principle in practice, using the example of ethical codes and corporate social
responsibility reports (Ericson, and Holmqvist, 2016).
The implementation of this goal involves the following tasks:
 Derive definitions of the concepts “business ethics” and “social responsibility”;
 Match these two concepts;
 Deal with two approaches to the study of social responsibility of business on the
example of the opinions of Milton Friedman and Michael Porter;