Depending on the context, it can on rare occasions contribute negatively to sustainability. India is the only country which has explicit legal provision prescribing CSR for companies above a threshold. The concept CSR has been evolving and changing very fast if one has to look at amendment in the schedule as well as rules relating to CSR over the last six months. 20.
Stakeholder theory – The basic premise of stakeholder theory is that the stronger your relationships are with other external parties, the easier it will be to meet your corporate business objectives. 21. The crucial part for any organisation would be to identify all stakeholders, their needs and prioritise these needs.