The article examines the core concept of social responsibility in business and its significance in shaping corporate style, culture, and identity. The authors argue that social responsibility is relevant not only to individuals but also to businesses, which must consider the impacts of their actions on society and the environment. Social responsibility in business implies a commitment to implementing strategies that protect societal interests. Engaging in socially responsible practices is voluntary and stems from the company's awareness of its duties to society and nature concerning the outcomes of its activities. A crucial condition for maintaining a high level of social responsibility among businesses is the availability of resources, including financial ones. Additionally, understanding the factors that influence the development and formation of social responsibility, as well as its essential elements, is vital. The authors also highlight trends and characteristics of the current state of social responsibility in Ukraine, while analyzing various approaches to structuring it. The key components of social responsibility that help balance profit with a positive societal impact include ethical, economic, environmental, and philanthropic responsibilities, along with employee engagement, transparency, and accountability. By examining these aspects, the article analyzes each component in detail and proposes an improved framework for the social responsibility of businesses.