ABSTRACT
Modern corporate social responsibility (CSR) has been strongly influenced by both economic and political developments that have occurred globally, in particular its increased influence on the capital and financial markets and private investment in the business sector. The chapter focuses on how the practice of CSR would transform its own outlook in the remaining 90 years of the 21st century. Three main future trends have been identified: the convergence of international CSR standards; the management of costs related to the implementation of CSR; and opportunities for innovation. The first trend seems to be on the increase. There are at present generally accepted CSR practices, which are finding their way into enterprises both large and small. The second trend is also a sign of an emerging field. Also called 'strategic cost management', the idea here is that CSR can be included in virtually all aspects of an organisation's processes and activities and the third trend is related to innovation.
