Abstract

The historical journey of Corporate Social Responsibility (CSR) is multifaceted, yet lacks a comprehensive review in academia considering both its academic evolution and the external factors molding societal expectations towards corporate behavior. In recent years, CSR and Technological Innovation (TI) have emerged as key drivers of sustainable development, gaining increasing recognition. This article aims to explore the historical milestones that have shaped CSR and the evolution of CSR and emphasize its intersection with TI and its implications for the future. Our research reveals that the concept of corporate responsibility has evolved from a narrow focus solely on profit generation to encompass a range of responsibilities, ultimately leading to the contemporary belief that companies should prioritize creating shared value. Additionally, we observe a dynamic relationship between evolving societal expectations and CSR's development, underscoring its ongoing importance in academic discourse and business practices. Looking ahead, we suggest a plausible trajectory for CSR based on its historical evolution. Furthermore, this paper advocates for future research to deeply investigate the effect of CSR addressing modern expectations by emphasizing the creation of shared value as a primary business objective. By doing so, we anticipate practical implications for businesses as they implement CSR initiatives aligned with this evolving perspective. This study contributes to a better understanding of existing research dynamics, elucidates the interplay between CSR and TI, and offers avenues for future investigation.