The Relationship Between Corporate Social Responsibility And Effective Management: A Comparative Study

Abstract

The relevance of an organization's impact on society and the environment has made corporate social responsibility (CSR) a crucial component of contemporary company management. Initiatives focused on corporate social responsibility (CSR) also have the potential to promote innovation, draw in and keep top personnel, and reduce risks related to governance, social, and environmental issues. The abstract also identifies various obstacles that organizations encounter when implementing CSR, including a lack of resources, divergent stakeholder expectations, and the requirement for extensive frameworks for measurement and reporting. Nevertheless, despite these difficulties, research indicates that businesses that give CSR a high priority and include it into their management strategies typically outperform their rivals in terms of financial performance and long-term value generation. Future studies should explore the CSR landscape as it changes, considering the effects of new developments like globalization, digitization, and shifting social norms. To further develop our understanding of this link, we should investigate how government policies and incentives affect the adoption of CSR practices. We should also look at how CSR interacts with diverse industries.