A Review of Corporate Social Responsibility Practices

Abstract

Corporate Social Responsibility (CSR) has emerged as a critical managerial and strategic concept that emphasizes the responsibility of businesses toward society, the environment, and multiple stakeholders beyond shareholders. Over the past few decades, CSR has evolved from philanthropic activities to an integrated strategic approach embedded within organizational policies and practices. This review paper synthesizes major theories, models, and practices of CSR, including stakeholder theory, legitimacy theory, triple bottom line, and shared value perspectives. It examines the evolution of CSR practices across industries, evaluates their impact on organizational performance and societal outcomes, and highlights implementation challenges. Through a comparative analysis, the study identifies key dimensions of CSR and discusses contemporary trends such as sustainability reporting, ESG integration, and digital CSR. The paper concludes by emphasizing the need for strategic, measurable, and transparent CSR practices to ensure long-term business sustainability and social legitimacy.