A Critical Analysis of Corporate Social Responsibility

Abstract

This research study gives a comprehensive literature analysis on the topic of corporate social responsibility (CSR), examining its evolution, utilisation, and impact across various nations. Due to the presence of competitive marketplaces, several businesses are compelled to portray themselves as highly socially responsible firms. The surge in scholarly and professional attention towards "Corporate Social Responsibility (CSR) has resulted in the formulation of various definitions pertaining to the concept and its implementation" (Jamali and Mirshak 2007). The phrase in question is not a novel notion, as evidenced by previous scholarly work (Taneja, Taneja, & Gupta, 2011). Its origins may be traced back to the 1950s. In contemporary times, several scholarly works provide compelling evidence that corporate social responsibility (CSR) initiatives may have a big impact on augmenting the value of a company (Mahfuja, 2013). In this particular context, the present study explores the overall advancement of the concepts underlying the notion via its historical roots and subsequent development, adopting a country-specific perspective. The investigation encompasses the practical execution of these ideas and the existing body of literature contributed by various writers during the course of time. In addition, we present a comprehensive framework consisting of fundamental components that several academics often identify with this concept. Moreover, we specifically emphasize the stakeholder’s approach, which has significant relevance among the various theories pertaining to this subject matter.