Discuss three basic theories of Corporate Social Responsibility. 

Corporate Social Responsibility (CSR) refers to the commitment of businesses to manage their operations in a manner that contributes positively to society, the environment, and the well-being of stakeholders beyond the purely economic aspects of profit generation. Over the years, different theoretical frameworks have emerged to understand CSR, each focusing on distinct perspectives on how corporations should interact with society. Below are three major theories of CSR: the Shareholder Theory, the Stakeholder Theory, and the Triple Bottom Line Theory.

### 1. Shareholder Theory (Classical Theory)

The Shareholder Theory, also known as the Classical Theory of CSR, is primarily associated with economist Milton Friedman. According to this theory, the primary responsibility of a corporation is to maximize profits for its shareholders, within the boundaries of the law. The shareholder's interests are seen as paramount, and any action by a business outside the direct pursuit of profit is viewed as a misuse of corporate resources. 

Friedman argued that corporations should not be expected to act in socially responsible ways unless it aligns with their profit-maximizing goals. He emphasized that business leaders are employed to run a business to increase its value for shareholders. Therefore, when a company engages in CSR activities, it should only do so if such activities contribute to long-term profitability. For example, if a company invests in environmental sustainability practices or contributes to social causes, it should be with the understanding that these actions will lead to positive financial outcomes, such as an enhanced ___ _____ __________ _________ ____ ________ ________ ______ ________.
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