Sustainability and Corporate Social Responsibility (CSR) in Emerging Markets: Challenges and Opportunities
Keywords:
Corporate Social Responsibility, Emerging Markets, Moral Obligation, Long-term Success, CSR InitiativesAbstract
The concept of Corporate Social Responsibility (CSR) has evolved significantly over the past few decades, becoming an essential component of business strategy worldwide. In emerging markets, however, CSR presents unique challenges and opportunities. Rapid economic growth, coupled with social and environmental issues, creates a complex environment where businesses must balance profitability with social responsibility. This paper explores the role of CSR in emerging markets, focusing on the challenges companies face in implementing sustainable business practices, as well as the opportunities that arise from addressing societal and environmental concerns. Drawing on case studies from countries like India, Brazil, and South Africa, the paper analyzes the strategies companies use to navigate these challenges and maximize the benefits of CSR initiatives. The findings suggest that CSR in emerging markets is not only a moral obligation but also a strategic tool that can drive long-term business success.
References
Carroll, A. B. (1999). Corporate Social Responsibility: Evolution of a Definitional Construct. Business & Society, 38(3), 268-295.
Jamali, D. (2008). A Stakeholder Approach to Corporate Social Responsibility: A Fresh Perspective into Theory and Practice. Journal of Business Ethics, 82(1), 213-231.
Kolk, A. (2003). Trends in Sustainability Reporting by the Fortune Global 250. Business & Society, 42(4), 415-437.
Matten, D., & Moon, J. (2008). “Implicit” and “Explicit” CSR: A Conceptual Framework for a Comparative Understanding of Corporate Social Responsibility. Academy of Management Review, 33(2), 404-424.
Visser, W. (2008). Corporate Social Responsibility in Developing Countries.. Oxford University Press.
