ABSTRACT
This chapter presents an overview of two cases that illustrate a few lessons from creative solutions implemented by the private sector as part of its social responsibility to contribute to the improvement of living conditions of disadvantaged communities while expanding markets and increasing profitability. Additionally, the impediments that the public sector faces in its efforts to fulfil social and environmental needs heighten the need for the private sector to assume its social and environmental responsibility. The adoption of CSR by Latin American companies to contribute to socioeconomic development requires general progress to be made on all the fronts highlighted above, as well as adapting the CSR agenda to the specific needs of the region. The greatest contribution of the private sector to sustainable economic development is to enhance the positive impact of business, producing cost-effective products and services, providing jobs and supporting knowledge and technology transfers, and minimising the negative effects of its activities.
