Socially Responsible Business in the “BRICS” Economies: The Way to a Sustainable Future

Abstract

This contribution provides general background concerning the practices of corporate social responsibility in the ‘BRICS’ countries (Brazil, Russia, India, China, South Africa). It discusses the problems that interfere with raising the effectiveness of social responsibility-based behavior, with reference to economic productivity.

It also attempts to describe the existing organizational structures, as related to the need to support socially responsible business practices. In contrast to current analysis of BRICS’s economic success, the research outlines certain activities needed to overcome identified negative consequences of current practices. It also attempts to forecast results of more universal application of CSR, suggesting how the BRICS would rank in the world map of CSR.

Keywords: Brazil, BRICS, China, corporate development, CSR, economic culture, economic effectiveness, economic success, ethics, India, international business, ISO 26000, market instrument, multicultural societies, norms, society – business relationship, Russia, South Africa, values, world economy.