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The following research takes a look at the concept of Corporate Social Responsibility (CSR) focusing on the good and bad aspects it presents. The analysis is supported by three theories: (1) CSR and the Competitive Advantage by Kramer and Porter (2002), where CSR is seen as tool to achieve competitive advantage not only benefiting the company but the society around it, (2) Stages of CSR by Zadek (2006), presenting CSR as learning process for the organizations and the society, and (3) Development of Community/Company Relationships with CSR by Marin, Rubio and Ruiz (2009), considering CSR as a key for a good perception of consumers and the relationship established among the company and its consumers. Finally there is a study of a Colombian company really active in the implementation of CSR. Taking this approach will allow for greater understanding on the importance of CSR in addition to its wider significance in society and with a direct link to Medellin, Colombia.