Definition
CSR theories explain why and how companies should act responsibly toward stakeholders beyond profit.

Introduction
Different theories offer lenses to balance duty, economy, and morality in corporate life.

Explanation
1️⃣ Stakeholder Theory (Freeman) – Serve all who affect or are affected by the firm.
2️⃣ Triple Bottom Line (Elkington) – Measure success in People, Planet, Profit.
3️⃣ Carroll’s Pyramid – Economic → Legal → Ethical → Philanthropic responsibilities.
4️⃣ Legitimacy Theory – Businesses must maintain societal approval.
5️⃣ Shared Value Theory (Porter & Kramer) – Social good can create business opportunity.

Key Takeaways

Theories connect ethics with strategy.

Balanced CSR benefits all stakeholders.

Legitimacy is earned through responsibility.

Real-World Case
Unilever’s Sustainable Living Plan applies the Triple Bottom Line to reduce environmental impact while growing profitably.
Reference: https://www.unilever.com