Sustainability ensures business operations run smoothly by combining social, financial and economic aspects. Corporate Social Responsibility (CSR) is a term that defines the duty business possess in ensuring the wellbeing of the environment and social life and at the same time achieving economic objectives. CSR is an ethical process that solidifies sustainability in business operation. Organisation sustainability is not a profit motive motion; instead, it aims at meeting environmental and societal needs. However, when businesses practice sustainability, they can compete favourably, increase production, improve their reputation, widen their marker and enjoy betters services from employees. Since it is impossible for business to operate without resources and people, businesses today have adopted sustainability approaches. Corporate businesses and small and medium-sized enterprises (SME) both play a significant role in sustainability since they interact with the environment. Some of the CSR measures businesses can take to preserve resources include proper use of resources, better designing products, recycling, reusing and using renewable sources of energy.
Sustainability is an inevitable problem in the business that requires managers to have relevant skills to implement socially, economically, and environmentally acceptable strategies. The daily activities in business such as transport, production, manufacturing and processing interact with the environment in one way or the other. The interaction should be professional and ethical since the universe capacity is limited due to increased growth. Sustainability involves maintaining a balance between the resources availed by nature and the output generated by a business (Kitsios et al., 2020). If managers suppress the balance, resources can be eternally depleted or may not achieve desired outcomes.
Moreover, businesses need to adopt relevant strategies since the law always monitors the use of resources for the future’s safety. For businesses to efficiently deliver eco-friendly products and use resource-orientated technologies efficiently, strategic sustainability is essential. Business ethics are the moral standards that enable a business to involve in good deed in its operation. The sustainability process should be an ethical procedure that ensures people, animals, trees, water bodies and the atmosphere wellbeing. Besides, business survival directly depends on people, environment and resources; therefore, responsibility is vital in strategic management. However, sustainability can be demanding due to changes in organisational features such as business policies, stakeholder interest, market demands, and internal processes. Corporate sustainability is a strategic plan that businesses can adopt to align development and management by ensuring public and environmental safety. Corporate Social Responsibility (CSR) is the ethical duty moral firms possess towards the environment and the society. Social responsibility also applies to small and medium sized enterprises (SME) since they significantly affect the community. Corporate Social Responsibility (CSR) measures build stronger public relations, enhance business reputation, increases productivity and have competition benefits to an organisation (Kitsios et al., 2020). The report will analyse different Corporate Social Responsibility (CSO) strategies corporate businesses, and small and medium-sized enterprises (SME) can implement to ensure business sustainability. The discussion will also evaluate SCR strategies’ performance and compare the approaches in corporate firms and small and medium enterprises.