Abstract

Business parlance these days often includes the phrase “Corporate Social Responsibility” (CSR). CSR occurs when a company voluntarily incorporates social, environmental, and ethical principles into its operations for the betterment of its employees, the community, and society at large. CSR is now considered a standard operating procedure for every successful organization. CSR proposes that firms should think about social goals in addition to financial ones. Businesses should be aware that they may contribute to sustainable management of their operations by doing things like providing environmental protection, encouraging social responsibility, and securing the interest of their customers while still making a profit. Managing company operations in a manner that fosters economic growth and competitiveness protect the environment and advances social responsibility and consumer interest is a key component of sustainable development and should not be overlooked by companies in their pursuit of profit. In its early stages, the evolution of CSR focused on involving corporate managers and employees in defining and following socially responsible practices that were often consistent with business success. Today, public and non-profit sectors are also participating in the debate and contributing socially responsible business efforts through various ways of collaboration. Regardless of the strengths and weaknesses of its core elements, public-private partnerships (PPP) are always mutually beneficial and fruitful. The PPP has a positive effect on the community; however, the extent and severity of the impact can vary. When properly carried out, such partnerships greatly enhance the efficacy of any given intervention.

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