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Socially Responsible Business

A Model for a Sustainable Future

image of Socially Responsible Business

The global business environment has undergone a major transformation that requires greater knowledge to address the social and environmental challenges of our time. Due to severe climate change and widening of gaps between socioeconomic groups, businesses are pressured to change normative management practices and operations towards development that is both inclusive and sustainable. While shareholders have a vested interest in financial economic returns, stakeholders are more broadly interested in business’ objectives, policies and operations which may impact the global sustainability. In this context, the notion of socially responsible business (SRB) is gaining relevance. SRB is an approach in which for-profit businesses are proactively operating and undertaking projects that are aligned to achieving the long-term economic, social and environmental objectives of society. This book aims to increase the knowledge of policymakers and corporate leaders on SRB practices.

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Conclusions

This monograph introduces the SRB Model for a Sustainable Future. Businesses aligned with the model create greater social and environmental value by promoting inclusive and sustainable development in the regional and global economies. If businesses imbed the SRB model into the early stages of their development, they can ensure the effective development, provision and evaluation of SRB. This must be a constituent component of modern business strategy and operations as it makes business accountable to both internal and external stakeholders. It also helps stakeholders develop government and corporate SRB agendas, which help businesses to achieve inclusive and sustainable development.

English

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