Corporate social responsibility in business management: A comprehensive review

Abstract

Corporate Social Responsibility (CSR) has emerged as a pivotal concept in modern business management, reflecting society’s evolving expectations of corporate roles. This survey paper reviews recent literature on CSR, focusing on its definitions, theoretical frameworks, economic impacts, and practical applications in business management. By synthesizing academic studies and real-world examples, the paper evaluates how CSR influences financial performance, brand reputation, and corporate sustainability, revealing a nuanced link with a small but positive financial correlation (r=0.13). It addresses gaps in standardized metrics and emerging economy contexts, offering insights for sustainable corporate strategies.