Excellent blog post on the CSR debate by Matthew Bishop and Michael Green in their Philanthrocapitalism blog, http://tinyurl.com/2u5mo3x
I would add that we need to steer away from the concept of giving back, or giving … it is not giving, it is investing, and it is entrepreneurial at the same time. When you invest you expect a return and investing in solving social, environmental and other challenges have a return and a benefit to society at large, so it is part and parcel of the entrepreneurial mind of finding solution, innovating, and expecting a return. Except here the return is of no immediate financial benefit, but it will certainly have a long term indirect fiancial benefit. Case in point; investing in education. A generation from now you will have an educated society that is productive, with more opportunities. Returns and impact might take a very long time, our current social ailments are complex and need patient investing.