In the contemporary scenario, Corporate Social Responsibility (CSR) is achieving an interdisciplinary scientific status as it has become an area of scientific research that is adopted not only by management specialists and industry leaders outside academia but also moral philosophers and sociologists. This field of CSR has seen exponential growth in the past decade. Within the work on CSR, there are different perceptions of the role of organizations in society and disagreements abound as to whether wealth maximization should be the sole goal of a corporation. This article, hence, acknowledges this and reviews the broad development of the ideas behind CSR within both academic research and the business world. It also addresses how companies are engaging in CSR beyond merely their economic interest.
Corporate social responsibility, sustainable development, strategies for CSR