Corporate Social Responsibility and Welfare Analysis: A Review from Economics Perspective
Description
This study attempted to analyse the processes by examining the relationships between corporate social responsibilities (CSR), households, and social welfare in economic fields, using existing theory to evaluate how CSR provides financial benefits to businesses. CSR contributes in the areas of social, economic, political, and cultural enhancement to emphasise welfare. The corporate sector has used a broader context to boost economic and social development and establish a standard of living for every citizen. This study contributes to a better understanding of CSR concepts by focusing on social welfare. However, CSR has significance for national development due to its focus on research and development. The natural point of CSR supports attempts to limit the establishment's environmental consequences; on the other hand, CSR has played an important role in the recovery from the economic crisis. The theoretical contribution of this study indicates business theories related to society and business ethics. Existing literature has benefited through the enhancement of business ethics, business strategies, business communications, and interaction with government national policies.