The Impact of Government Initiatives on Sustainable Business Practices

Title

The Impact of Government Initiatives on Sustainable Business Practices

Creator

Mathew, Joice Ann; Maji, Susnato

Description

This paper examines the evolving role of government initiatives in fostering sustainable business practices, with a focus on Corporate Social Responsibility (CSR) as a critical tool for aligning economic growth, social equity, and environmental sustainability. By analyzing the historical evolution of CSR and its current framework in India, including its mandatory implementation under the Companies Act, 2013, this study highlights the multidimensional aspects of CSR: environmental, ethical, philanthropic, and economic responsibilities. It also explores the strategic integration of CSR to meet stakeholder expectations, enhance competitiveness, and mitigate risks, illustrating its potential as a driver for sustainable development. The research further addresses mechanisms for legal compliance, inspection, and enforcement, offering insights into the challenges and opportunities for businesses in adhering to CSR norms while contributing to broader societal goals. 2025 The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.

Source

The Synergistic Effect of Sustainable Business Practices on Corporate Performance;pp.127-139

Date

01-01-2025

Publisher

Springer Science+Business Media

Subject

Corporate Social Responsibility (CSR); Economic growth; Government initiatives; Sustainable business practices

Coverage

Mathew J.A., Christ University, Pune, India; Maji S., Christ University, Pune, India

Rights

Restricted Access; Hardcopy may be available in the library

Relation

ISBN: 978-981963375-3; 978-981963374-6;

Format

online

Language

English

Type

Book chapter

Identifier

https://doi.org/10.1007/978-981-96-3375-3_8

https://www.scopus.com/pages/publications/105022351256?origin=resultslist