The Social Purpose of the Modern Business Corporation

The evolution of the social purpose of corporations is explored, highlighting the shift from compliance-based Corporate Social Responsibility (CSR) to the concept of "the responsible corporation." This transition has been influenced by international regulations and globalization, leading to the belief that companies must earn a "license to operate" through their social contributions. The integration of social goals into corporate strategy fosters the emergence of the "purposeful corporation," presenting both strategic opportunities and constraints within the modern business landscape.