Corporate Social Responsibility and Sustainable Development of Business in Canada

This project concerns corporate social responsibility. During the research main CSR principles were established: legitimacy, public responsibility, and managerial discretion. They are constantly developing and transforming into more pragmatic. Also social functions of corporations were examined, the most significant among which appeared to be products and services permanent improvement, expanding in new markets, staff motivation and environment amelioration. A positive correlation between firms’ desire of profitability and their motives for imposing socially responsible measures was established, confirming the thesis of the project. Next fact that should be mentioned is that in Canada there is a tendency of growing role of CSR due to several reasons, including long-term compensation, strict legislature, appearence of the rating agencies. Canadian enterprises operate within the recommendations of World Bank given to the authorities. The negative consequence of CSR development is the attempts of government to delegate their responsibilities and obligations towards private sector. Also in this work some modern Canadian as well as international tendencies end approaches of business operating within CSR were analyzed and compared.