Japanese high economic growth after World War II attracted global attention by surprise, while the prolonged economic stagnation since the 1990s has received attention, sometimes with disappointment. The determinants of economic development are complex and not uniform. From a micro-foundation perspective on economic development, a key determinant is the flexibility of business organizations to continuously explore and develop innovation capabilities in response to changes in social, environmental, economic, and financial conditions. This book emphasizes the the multi-stakeholder engagement to associate corporate social responsibility (CSR) strategies with research and development (R&D) strategies for sustainable development.