Corporate Social Responsibility - Summarizing Evolution of the Concept

Introduction- The paper discusses evolution of the concept of Corporate Social Responsibility since middle of 20th century till date. Need for Study- This paper gives a brief view of some critical research in the field of Corporate Social Responsibility that was required to understand the concept succinctly.Objectives- Objective of this paper is to present a literature review of major researches done in the field of CSR to present and conclude how the concept of CSR has developed.Research Methodology- Methodology of this paper is critical review of literature.Key findings of the study- The concept of Corporate Social Responsibility has evolved greatly in last 75 years. From debating whether this concept is relevant to business, the discussion has moved to how to incorporate CSR into firm’s vision and specific attributes in order to gain competitive advantage in the market place and to give back to the society.Implication of the Study- More research is required in the field of CSR to develop frameworks of integrating CSR into business models to increase competitive advantage