Theoretical approaches to the development of corporate social responsibility of business

Subject. This article discusses the problematic aspects associated with theoretical approaches to the formation of corporate social responsibility of organizations of various forms of management. Objectives. The article aims to study the theoretical foundations of the formation and development of corporate social responsibility of business. Methods. For the study, we used the methods of comparison, systematization, and data generalization. Results. The article reveals problematic aspects of formation and presentation of corporate responsibility of business in modern economic conditions. The article offers a classification of indicators of corporate social responsibility, indicators for assessing the effectiveness of socially important business, and it presents principles according to the International Standard ISO 26000:2010 Guidance on Social Responsibility. Conclusions and Relevance. The role and significance of corporate social responsibility of business should be evaluated not only from the point of view of contribution to socially significant and environmental projects, but from the point of view of economic efficiency for the business itself as well. The results of the study can be applied in the development of the theory of corporate social responsibility and in the practice of socio-economic activities of an economic entity in the context of sustainable business development.