CSR and Stakeholder Engagement: Strategies for Sustainable Business Growth

Author(s): Jithin Vincent and Cyndrella VS

Abstract:

Corporate Social Responsibility (CSR) has emerged as a strategic imperative for organizations aiming to align profitability with social and environmental responsibly. The Sustainable Development Goals (SDGs) and the tenets of Corporate Social Responsibility (CSR) are directing the activities of many public and private organizations, including Foreign Direct Investments (FDIs). The impact of stakeholder engagement on social and environmental results has been highlighted. Contemporary perspectives on Corporate Social Responsibility and stakeholder involvement exist. Organizations must develop a Stakeholder Mapping Framework by identifying and categorizing stakeholders based on their influence, interest, and potential impact on CSR initiatives. Companies must incorporate CSR reporting criteria and translate them into a score for comparative analysis in their annual reports. This study has substantially advanced the global discourse on CSR reporting.

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Pages: 94-97     |    2 View     |    0 Download