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CSR Trends and Future

The future CSR challenges for business firms depend on the country's economy and cultural values. Firms must improvise to implement CSR practices accordingly. Corporations in developing and underdeveloped countries need to evolve their CSR practices from mild to strong sustainable-based views. The challenge is to adopt the correct degree of tradeoffs between the three capitals (planet, people, and profit). To survive and thrive, organizations should leave the traditional economic view, which remains sensitive about the bottom line. Societies are evolving more rapidly due to technological advancements in communication and the internet. The people are more critical to how organizations are conducting their businesses. News from any part of the world becomes global instantly with a click of a button. Vigilance is high from internal and external stakeholders of the company. CSR and its practices have a crucial role in all organizational functions in this dynamic and connected world.