Social responsibility is becoming progressively more important and present subject among scientists and practitioners, as it is a quality tool for creating competitive advantage that brings numerous benefits for the stakeholders themselves and the overall economy. Corporate Social Responsibility (CSR) is a concept of business where, besides making money, it is important to care about people and protect the community environment or the environment where the company operates. More specifically, business is not only viewed through achieving economic goals, but also takes into account the social and environmental aspects of business. Many socially responsible companies want to show their community and their surroundings that they are equal participants in improving the quality of life and that they understand the current problems which the community is facing. Even though some companies are using the concept of CSR as a catalyst for better reputation in the community, more and more businesses are considering CSR as an excellent long-term investment in a better future for both businesses and communities. The aim of this master thesis is to present CSR as a very current concept that companies should strive for in order to be more successful and competitive in the market, preserver their integrity and respond to increasingly demanding consumer needs.