ABSTRACT
Businesses are interwoven to healthy economic, social and environmental systems and create economic value ultimately, maintain healthy ecosystems and strong communities. Mahatma Gandhi’s ‘Trusteeship Theory’ favours the philanthropic theory of business. He proposed a ‘trusteeship’ model, in which business managers and stakeholders integrate their rights and responsibilities into economic value creation, to create a prosperous society. L. Johannson established the concept of balancing ecology with economic and social factors that are included in the industry value system and in the business planning or design phase resulting in profits through ecologically sound products, processes, or services. Corporate social responsibility (CSR) is a response to globalization in the development of business strategy. Based on the review of the available literature on CSR, environmental management, and sustainability of business, it can be concluded that the corporate sector is powerful in terms of infrastructure, money, and employees.
