Corporate social responsibility in the new normal era: review

Abstract

A business theory known as "corporate social responsibility" (CSR) places an emphasis on an organization's social and ethical responsibilities in addition to maximizing profits. It entails incorporating social responsibility, moral decision-making, and sustainable practices into the foundation of corporate operations. CSR essentially seeks to strike a balance between financial performance and a favorable influence on the environment and society, demonstrating a dedication to ethical business practices and stakeholder well-being. Businesses are realizing the value of corporate social responsibility (CSR) in the face of changing global issues in the "new normal" period. Corporate Social Responsibility (CSR) becomes more important in the new normal era as companies deal with previously unheard-of difficulties. Global events have brought about a paradigm change that requires robust and socially responsible corporate strategies. CSR provides businesses with a strategic framework to meet demands in society, gain the trust of stakeholders, and adjust to shifting expectations. It fosters long-term sustainability in a constantly changing global landscape by positioning firms as responsible contributors to community and environmental well-being, in addition to aligning them with ethical imperatives. A critical analysis of corporate social responsibility (CSR) in the new normal age reveals a dynamic business environment where companies adjust their approaches to meet changing needs. Important discoveries highlight how crucial CSR is to boosting long-term sustainability, stakeholder trust, and resilience. The literature emphasizes the value of moral behavior, environmental stewardship, and social contributions while highlighting successful CSR implementations during global upheavals. All things considered, the assessment shows how important corporate social responsibility (CSR) is in helping companies become not just financially sustainable but also socially and environmentally conscious in the face of enormous shifts.