Incorporating CSR and Sustainability in the Business Strategy

DOI: 10.5176/2251-1970_BizStrategy13.35

Authors: Dr Geetanee Napal

Abstract:  Constraints facing the global market coupled with unexpected environmental dilemmas lead to uncertainty and instability that impact heavily on growth and development. In the developing world where problems of education and technology prevail, firms should be proactive and devise business strategies that reflect economic exigency.

In an era of competition, faced with a financial crisis and the temptation to secure short-term gains, the business community should revisit their approach if they are to survive. Business strategy should imperatively incorporate ideas of corporate social responsibility and sustainability if organizations are to remain competitive and secure the interests of their stakeholders.

Keywords: business; corporate social responsibility; profit; strategy; sustainability