The article deals with the problem of creation of the business (corporative) social responsibility conception and key elements of this conception. The functioning of the market economy in the modern society is impossible without strong ties between society and business community, social obligations of companies, corporations, firms and so on. Idea of business (corporative) social responsibility reflects these ties and is based on the philosophical doctrine of moral ideals as the goal of social progress. Business (corporative) social responsibility supposes free-will initiatory social activity of companies — activity, that is not related to commercialization. There are some areas of such activity: occupational safety, providing favourable conditions of employment, protection the environment, social security, health protection, culture and education. The author has attempted to characterize principles of companies’ social activity. These are: respect for law order, which means not only subjection to the law, but voluntary renunciation of using deficiencies of law and other law imperfections; respect for international laws; respect for human rights; concerning for moral ideals. Companies realize social responsibility in different ways. First of all through collective bargaining procedure. The next way is cooperation with government and local communities. Cooperation with non-government organizations (civil society organizations) and charity are also possible.