The Relationship Between CSR, Strategic Planning and Sustainability

Abstract

Corporate social responsibility (CSR) attained a high enough profile and that many consider it as a necessity for organizations to define their roles in society and here to social, ethical, legal, and responsible standards. Nowadays, there are many factors influencing the companies reporting on CSR including stakeholder pressures, the economic crisis, growing awareness of sustainability issues as well as the appearance of more and more new reporting requirements initiated by national government and stock exchanges. In Malaysia, as a rapid developing country, committed and confident in achieving the 2030 United Nations Sustainable Development Agenda. The importance of addressing the topic of sustainable development has been widely acknowledged. Currently, most of such CSR studies focus on organizational perspectives, whereas it has been shown that the impact of individual perspective on the economy, the society, and the environment. This study is focusing on identifying the CSR activities implemented by corporations in Malaysia towards their stakeholders. The purpose of this study is to identify the relationship between the impact of CSR on their sustainability development. Specifically, conceptual framework in this study as a compilation of previous researchers mainly about sustainability, CSR, motivation and Triple bottom line. The outcomes of this study had shown the strategic planning from CSR activities have significant results with sustainable development. Furthermore, the practice of voluntary CSR will increase and as a result of an improved sustainability performance through better management information models to society. In conclusions, it is very important to place the measured outcomes of sustainability in this context in order to provide clear view of the true impact on the sustainability performance for the development of society, economy and nation in Malaysia.