This Background Note outlines the differences and similarities among a range of approaches used by businesses to benefit people in developing countries. It has a specific focus on  inclusive business approaches that highlight the synergy between commercial value and social value, through innovation by business, non-profit organisations and governments. The Background Note examines the evolution of the core business approach to enhancing development impact, moving from the concept of Corporate Social Responsibility (CSR), based on philanthropy, to approaches that incorporate development impact into the very core of day to day business. Produced in collaboration with the UK's Department for International Development (DFID) and Business Action for Africa  (BAA), the  Background Note was prepared for the meeting series on ‘Harnessing the power of business for development impact’, from January to October 2009. For information on the meeting series and to join the online discussion visit www.events.businessfightspoverty.org