This paper evaluates the perception of managers in Tanzania of whether or not organizations benefit, in terms of growth, by acting responsibly socially. It evaluates two types of social responsibilities: market-oriented social responsibility and corporate social responsibility. The study interviewed 30 managers to evaluate the relationship between corporate social responsibility and the performance of a firm. The research was qualitative in nature and involved three phases. In phase one three managers were interviewed separately, and in the second phase the results obtained from the three interviews were discussed by 20 managers, who in the third phase introduced minor changes that were agreed by interviewing seven managers. The study revealed that managers perceive corporate social responsibility as a necessary factor but not sufficient for the growth of firms. The research shows that market-oriented corporate social responsibility increases financial performance, while corporate social responsibility influences non-financial performance. It is important for organizations to know what they want from any social responsibility activity. Market-oriented social responsibility tends to influence financial performance, while corporate social responsibility improves organizations’ non-financial performance.