<scp>CSR</scp> and Stakeholder Engagement in the Age of Industry 5.0: A Framework for Developing Nations

ABSTRACT As the world moves beyond automation, Industry 5.0 redefines progress by placing the integrity of people, society, and the planet at its core. It represents a socially responsible paradigm that integrates sustainability, human‐centricity, and resilience into industrial development. In this evolving landscape, Corporate Social Responsibility (CSR) emerges as a key mechanism for translating these values into action through inclusive initiatives, ethical leadership, and long‐term stakeholder engagement. Despite the growing emphasis on Industry 5.0's values, there remains a lack of context‐specific frameworks that align CSR with the social welfare needs and stakeholder realities of developing nations. Building on this context, the present study explores how CSR can be aligned with Industry 5.0 principles to promote social welfare in developing countries. The current study adopts a three‐phase approach: it begins with a Systematic Literature Review (SLR) of 41 peer‐reviewed articles (2014–2025) to map CSR trends; further, a thematic analysis was conducted and four key domains where CSR contributes to social welfare were identified: employee well‐being, organisational development, community empowerment, and environmental sustainability. In the final phase, these findings are interpreted through the lens of Industry 5.0, resulting in the development of a CSR 5.0 Framework. This framework aims to guide organisations in integrating human‐centric, sustainable, and resilient principles into their CSR strategies. The paper concludes with implications for policy, practice and future research on CSR's evolving role in shaping equitable and sustainable development.