There are many corporations around the world who struggle with new roles. The goals are to meet the needs of the present generation and not compromise the talent of the next generations in order to meet their own needs. These organizations are called upon to take responsibility for the ways that their operations influence the society and the environment. These organizations are also being asked to apply sustainability principles to the ways in which they conduct their business. Sustainability refers to an organization’s activities, typically considered voluntary, that demonstrate the inclusion of social and environmental concerns in business operations and in interactions with stakeholders (Van Marrewijk & Marcel, 2003).
Corporations can no longer hide and it is not acceptable when economic prosperity arises by the employers impacted by its actions. A firm must now focus its attention on both increasing its bottom line and being a good corporate citizen. Keeping abreast of global trends and remaining committed to financial obligations to deliver both private and public benefits have forced organizations to reshape their frameworks, rules, and business models. To understand and enhance current efforts, the most socially responsible organizations continue to revise their short- and long-term agendas, to stay ahead of rapidly changing challenges. Organizations are now developing many strategies for dealing with the needs of society, the environment and corresponding business imperatives.
Corporate responsibility or sustainability is therefore a prominent and popular feature of the business and society writing, addressing topics of business ethics, corporate social performance, global corporate citizenship, and stakeholder management. Management education can be an important source of new ideas about shifting toward an integrated rather than fractured knowledge economy, but this means also that the role and meaning of socially responsible leadership needs to be updated. Much further research is needed to create a clearer understanding of what is required, both in leadership itself and in the field of leadership development.
In the following report, I present the research related to CSR and the role of leadership. We highlight some current developments on this topic and draw attention to similarities and differences in the three angles of the triple bottom line (TBL)—the environmental, societal, and business arenas. The field addresses complex and critical issues, such as human rights, environmental protection, equal opportunities for all, fair competition, and the interdependencies that occur between organizations and society (Quinn, 2008).