“The Impact Of Corporate Social Responsibility (CSR) On Community Development: A Comprehensive Review"

Abstract

Historically, the primary goal of businesses has been to generate profit. This focus on financial gain has frequently been seen as neglecting other organizational priorities. However, in today’s dynamic world, companies are recognizing that long-term profitability depends on adopting socially responsible practices. As a result, stakeholders increasingly expect businesses to look beyond profits and contribute positively to society. This shift in perspective has led to the rise of Corporate Social Responsibility (CSR), which emphasizes that companies should not only benefit shareholders but also address the needs of all stakeholders. CSR has gained significant attention in recent years, advocating for ethical, community-friendly, and socially beneficial business practices.

This paper explores the impact of CSR on community development, using a library-based research approach that draws on primary and secondary sources. The findings indicate that the conventional belief—that businesses exist solely to maximize profits—has evolved. Modern corporations now integrate CSR into their strategies, balancing economic, environmental, and social objectives. The study highlights that CSR contributes to community development in various ways, such as environmental conservation. Many leading global companies have demonstrated their commitment to CSR through initiatives like reducing their ecological impact, showcasing the growing importance of responsible business practices.