Corporate Governance

I started my module on Corporate Governance last week. So far, our class has centered on the debate of the responsibility of corporations to development. This is more commonly known as CSR or Corporate Social Responsibility. I and others in the class questions the incremental contribution of these organizations to development. However, do they actually have the responsibility for CSR? Is this only a result of pressure groups? Could corporations do it anonymously and voluntarily? Or do they do it because it actually makes 'business sense' for corporations to "take care" of their customers?

My opinion is that morality and values play an important role in CSR.