World Business Council for Sustainable Development defines CSR as:

"Corporate Social Responsibility is the commitment
of business to contribute to sustainable economic development, working with employees, their families, the local community and society at large to improve their quality of life."

A simpler way of expressing this:
"CSR is about business giving back to society" . Source:World Business Council for Sustainable Development

Increasingly companies are being judged not
just by their economic success but by the way they behave. Companies that can demonstrate social responsibility gain trust and loyalty from employees, customers, investors and other stakeholders.

other definitions of CSR

More people now have access to information than ever before and have a greater awareness of how business impacts upon the wider community and the environment. Business ethics are increasingly under scrutiny.

Society is demanding more from companies. In addition to meeting the needs of customers, providing employment and safety in the community there are greater social expectations.

For more all round information
and quizz check out http://www.mallenbaker.net/csr/index.html

To download a free CSR reporting guide visit http://www.smekey.org