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New Trends in Corporate Social Responsibility

Book Title: Recent Trends in Business Management and Social Sciences

Editors:  Dr. Jasbir Kaur and Dr. Devyani Ingale

ISBN:  978-81-970457-8-3

Chapter: 11

DOI:  https://doi.org/10.59646/rtbmssC11/134

Author:  Prof. Rupali Mane (Moray), Associate professor, Modern Institute of Business Management, Pune, Maharashtra, India.

Abstract:

This chapter delves into the evolving landscape of Corporate Social Responsibility (CSR), examining contemporary trends that redefine the role of businesses in addressing societal and environmental challenges. The narrative begins with an exploration of traditional CSR practices and traces the transformation towards more integrated, purpose-driven, and sustainable approaches. The chapter identifies and analyzes key trends shaping the future of CSR, including the integration of Environmental, Social, and Governance (ESG) factors into core business strategies. It explores the rise of purpose-driven businesses, emphasizing a commitment to positive societal impact beyond financial gains. Stakeholder engagement and transparency are highlighted as critical components, emphasizing the importance of open communication and inclusive decision-making. Furthermore, the chapter addresses the growing emphasis on Diversity, Equity, and Inclusion (DEI) within CSR initiatives, emphasizing the role of businesses in promoting social justice and equal opportunities. The integration of technology for social good is discussed, showcasing how companies leverage digital innovations to drive positive change and community development. Supply chain sustainability emerges as a pivotal trend, with organizations extending their CSR efforts to ensure responsible sourcing, ethical labor practices, and reduced environmental impact across the entire supply chain.

References

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