Csr

CSR refers to a business practice that involves participating in initiatives that benefits the society (Businessnewsdaily, 2015) Sustainability is the capacity of something to sustain itself, meets its needs and does not damage the fu-ture of others generations (World Commission on Environment and Develop-ment, 1987).

Both CSR and Sustainability are not only important for the people and their environment, but also in the business world. It is a crucial factor in determin-ing success or failure of businesses.

Sustainable development practices drive new business models, create new markets, products, demands and definitely create advantages against com-petitors. (Baharin, I., Daud, M. and Dr. Sentosa, I.,2012)

Corporate social responsibility is an entrepreneurial vision, it is a constant search for quality of life without forgetting the profit and competitiveness. In other words, corporate social responsibility is directly related to sustainability.

Nowadays, consumers are also very aware about global issues and they are interested in companies that share the same ideas. It is a big challenge for companies to be sustainable to keep a good image. Companies desire to be more ‘green’ and environmentally friendly. Being responsible means also working with employees and suppliers that have the same view. Keeping a good reputation can help to be more attractive for consumers, employees and investors too.

Furthermore, corporate social responsibility covers different topics such as environment, child labor, carbon footprint, employee’s well-being. Thinking about corporate social responsibility leads first to the fact that all companies have an impact on the environment and on our lives and they need to take their responsibilities.