EVOLUTION OF THE CORPORATE SOCIAL RESPONSIBILITY CONCEPT AND ITS INTEGRATION INTO MODERN BUSINESS MODELS

Abstract

This article investigates the historical evolution and contemporary interpretations of corporate social responsibility (CSR) with particular focus on its integration into modern business models and its specific development within the Ukrainian academic and practical context. The research underlines that CSR has undergone a gradual transformation from voluntary philanthropy to a multidimensional managerial concept, deeply embedded in corporate governance, strategic planning, and stakeholder communication. Theoretical foundations are examined through the works of H.R. Bowen, who first articulated the notion of business responsibility beyond profit maximization, K. Davis with his “iron law of responsibility,” and A.Carroll, who conceptualized CSR as a pyramid of economic, legal, ethical, and philanthropic obligations. Contrastingly, the critical view of M. Friedman is analysed, emphasizing the primacy of profit-making and the risks of overburdening corporations with societal functions. The article demonstrates how these perspectives shaped the ongoing debate between shareholder primacy and stakeholder theory as alternative frameworks for corporate decision-making. Special attention is given to the Ukrainian research tradition, which generally aligns with international discourse but introduces unique emphases. Ukrainian scholars interpret CSR predominantly through socio-labour dimensions, human capital development, workplace safety, and fair employment practices, linking responsibility to the broader concept of social partnership. Moreover, the national academic debate highlights the step-by-step formation of CSR practices in response to crises such as the COVID-19 pandemic and the full-scale war. These events have accelerated the shift of CSR from peripheral initiatives toward a core element of resilience strategies, community protection, and long-term sustainability. Case studies of leading Ukrainian companies reveal that CSR increasingly functions as a vital component of risk management and corporate reputation, strengthening trust among employees, partners, and local communities. The article also analyses the institutionalization of CSR in Ukraine through professional organizations, indices, and reporting frameworks that establish standards of transparency and accountability. The alignment with European sustainability requirements further intensifies the integration of CSR into competitive strategies. The findings allow us to conclude that CSR today acts simultaneously as an ethical imperative and a strategic tool. It generates added value for diverse stakeholders, enhances competitiveness in global markets, and supports the broader agenda of sustainable development. Thus, CSR becomes not only a response to societal demands but also a proactive driver of innovation, resilience, and long-term corporate success.