This paper represents in-depth analysis of the concept of Corporate Social Responsibility (CSR) with a particular focus on its application in the contemporary business context. CSR, s a multudimensional concept, transcends the boundaries of traditional business and lays the foundation for sustainable development, thereby satisfying not only the immediate needs of organizations but also the long-term needs of society and the environment. The first key element of this paper is the examination of the very definition of CSR. In addition to addressing the fundamental concept, it explores how CSR has evolved over time and adapted to increasingly complex business environments. It emphasizes that CSR is not confined to mere compliance with minimum legal obligations but aspires to achieve a higher goal – making a positive societal, environmental, and economic impact in all of its activities. Another significant aspect of this paper relates to the importance of collaboration with influential stakeholder groups. By recognizing their stakeholders as key partners in the decisionmaking process and the achievement of socially responsible objectives, organizations enable the creation of sustainable business models and relationships. The third aspect explores concrete examples of socially responsible and irresponsible business practices. Through these examples, we investigate how organizations can have a positive or negative impact on communities and the environment, thus demonstrating the significance of CSR in the development of sustainable business strategies and practices. Finally, the paper delves into the role of CSR indices as quantitative tools for assessing and comparing the social responsibility of organizations. This index allows for quantitative evaluation and monitoring of progress in achieving CSR objectives. The paper underscores that CSR is not merely an ethical imperative but also a strategic necessity for organizations striving for long-term prosperity and sustainable development.