Examination of UNDP Goal Orientation of CSR Activities towards Sustainable Development by Corporates in Pharmacy Sector
Damodar R. Kulkarni1, Ashok G. Ranade2

1CMA. Dr. Damodar Kulkarni, Finance Professional Fellow Member of “Institute of Cost Accountants of India.

2Dr. Ashok Ranade, Retired Professor, India.

Manuscript received on 11 February 2020 | Revised Manuscript received on 27 February 2020 | Manuscript Published on 10 March 2020 | PP: 14-27 | Volume-9 Issue-4S March 2020 | Retrieval Number: D10030394S20/2020©BEIESP | DOI: 10.35940/ijitee.D1003.094S20

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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open-access article under the CC-BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)

Abstract: In recent decade, the two words viz. “Corporate Governance” and “Corporate Social Responsibility (CSR)” have been seeking increasing attention stake holders. The ultimate result of them is assumed that they should turn into sustainable development of the country. There are two dimensions to these concepts. The one dimension is of statutory compliance and another is non statutory initiatives. Thus, every company is spending on activity in some form which falls under the task of discharging the social responsibility. However, it is interesting to look at these activities from the goals of the sustainable development. The indicators of sustainable development are the results of these activities. These goals are also reflected from the nature of activities undertaken by a corporate. United Nations Development Program (UNDP) has given the list of 17 goals which are in recommendatory nature and it is expected that all countries should work towards the achievement of these goals. The authors intend to study these goals and analyses these activities from the direction point of view towards the goal. There are in all 17 goals/results are considered for the purpose of analysis. The data is taken from the most authentic source i.e. annual reports of the companies from Pharmacy sector for the year 2018-19. The activities are classified based on their nature. Further, they are examined in the light of these goals/objectives in which there are very high propensity to result into these goals. Comparison is made on the parameters that whether conducting the activities in a particular sector will lead to progressing towards achievement of these goals. With reference to above said analysis and the literature regarding Corporate Responsibility and Corporate Governance have given their suggestions. These suggestions shall be useful in creation of objectivity for the Corporate towards the Sustainable Growth and discharge their responsibilities more meaningfully.

Keywords: Sustainable Development, CSR Initiatives, UNDP, Domain Sector, Direction Orientation towards Sustainable Development Goals (SDGs).
Scope of the Article: Sustainable Structures