Legal Measures for Promoting Sustainable Business Creation by Using Corporate Social Responsibility Guidelines

Abstract

Corporate social responsibility (CSR) forms an important part of business operations. Should business organizations fail to conduct operations with consideration for stakeholders, consumers, communities, the wider society, and the environment, and are instead motivated only in profits and the benefits accruing only to the business organization, this will lead to problems such as social inequality, the concentration of wealth and income, poverty, unemployment, etc. However, if businesses act in light of CSR principles, these problems will be alleviated. The adoption of CSR by businesses will also help the economy by encouraging competition within legal frameworks and moral norms, leading to greater economic and social benefit. If Thailand adopts Legal measures to manage business organizations through encouraging CSR in a way which is in line with national development, this will help the country develop in accordance with 'Thailand 4.0.