Abstract:
The changing function of Corporate Social Responsibility (CSR) and business ethics
within contemporary corporate structures is highlighted, focusing on their growing
significance in bridging profit-oriented goals with wider societal and environmental
duties. It describes a paradigm shift that transforms organizations from being solely
economic entities to vital societal players, accountable to a diverse array of
stakeholders. Through an interdisciplinary analysis of theoretical frameworks
including stakeholder theory, agency theory, and the resource-based view the paper
examines how CSR and ethical values are incorporated into corporate governance,
decision-making frameworks, and strategic business approaches. It underscores the
crucial role that corporate governance plays in instilling ethical principles, fostering
transparency, and ensuring accountability. The study also explores the financial
effects of CSR, highlighting the potential for long-term value generation as well as
the difficulties in gauging its effect on performance. This study emphasises the
importance of CSR as a fundamental strategic imperative and a crucial factor in
determining corporate legitimacy, competitive advantage, and sustainable growth in
a fast evolving global business environment. It does this by drawing on empirical
data and recent literature.
