This report examines the critical aspects of corporate governance and social responsibility in the modern business landscape. It delves into the significance of stakeholder management, emphasizing the need for companies to consider the interests of various groups, including customers, employees, and communities, alongside shareholders. The report reviews literature on corporate governance, business ethics, and the role of government. It highlights the importance of ethical practices, legal compliance, and the integration of social responsibility into core business strategies. The analysis covers the evolution of business practices, from traditional shareholder-centric models to more inclusive approaches that prioritize long-term sustainability and societal well-being. It also discusses the limitations of certain corporate models and the need for adaptability in a globalized and multifaceted business environment. The report concludes by underscoring the benefits of adopting a broader view of corporate responsibility, which includes the elimination of poverty, reduction in unemployment, and environmental protection.