ABSTRACT
The contemporary understanding of corporate social responsibility (CSR) differs from the original one. The current approach to CSR has been shaped as a result of discussions over the years. This chapter presents the current understanding of CSR and its connection with the stakeholder theory. New proposals for the evolution of CSR into creating shared value were presented. The obligations of business not only towards the natural environment but also towards the local community were discussed. A new area of corporate responsibility, which is cultural commitment, was also indicated. The chapter also presents the benefits of implementing the CSR strategy in the enterprise and the criticism of CSR, including the concept of greenwashing.
