An enterprise success under modern conditions depends largely on its market behavior, values and principles that make the foundation of the company corporate culture. Especially relevant in terms of improving the company image from the point of view of the customers, partners, employees, state and local authorities is the issue of enterprises corporate social responsibility.

There is no single universally accepted definition of corporate social responsibility in modern economic literature. Thus, according to the  definition by the Green Book of the European Union, corporate social responsibility is the integration of social and environmental aspects in the daily business of an enterprise and their interactions with stakeholders on a voluntary basis.

The participants of the International Business Leaders Forum consider corporate social responsibility as an instrument to promote responsible business practices that benefit to both business and society and provides achieving social, economic and environmental sustainability through the maximization of the positive impact of business on society while minimizing its negative effects.

The World Business Council for Sustainable Development defines corporate social responsibility as "the commitment of business to promote sustainable economic development through working with employees, their families, the local community and society on the whole to improve their life quality.

The European model of agriculture business corporate social responsibility has two varieties. According to the first one, the state involved actively in the regulation of social and labor relations. This kind of European model is typical for  the Nordic countries (Belgium, Norway, Sweden). According to the second model, the state has the right to interfere with social and labor relations, while entrepreneurs and trade unions are autonomous. This approach is applied in the Central Europe (Austria, Germany, France, partly in UK).

The following concept of corporate social responsibility is defined in foreign practice: the economic responsibility concept, the concept of basic business strategy, the concept of duty, the concept of 'stakeholders' (participants involved), the concept of corporate accountability, voluntary concept, the concept of proactivity.

Having analyzed the work of many enterprises, the researchers concluded that social responsibility promotes companies development, and, vice versa, avoiding social responsibility reduces the possibility of an enterprise success. This conclusion made it possible to formulate the "hardy law of responsibility", according to which, in the long run, those who do not use the available power in the direction socially  regarded as responsible one, tend to lose this power.

Thus, the author considers the corporate social responsibility as responsible business practices that benefit to both business and society, and helps to achieve sustainable social, economic and environmental development of the enterprise through interaction with stakeholders on a voluntary basis.

Corporate social responsibility provides identifying  stakeholders and cooperation with them, the correct perception of spheres of influence and mutual responsibility, as well as positive image for customers, partners, employees, state and local governments, which ultimately improves the efficiency of enterprises and ensures sustainability of their development.

The generalized practice of foreign companies in the formation and evaluation of social responsibility can be applied to large domestic enterprises and promote the development of national economics.

Keywords: corporate responsibility, corporate governance, corporate social responsibility, corporate strategy, corporate conduct codes.