CSR is the term used in the context of companies which apart from doing business should also be performing their social duties, full form of CSR is Corporate Social Responsibility. In this age of corporate greed where every action of companies is directed towards maximization of profits for owners and shareholders corporate social responsibility is like a fresh breeze of air which though is not mandatory but firms adopting this are looked at more respectfully.
It involves firms doing various acts of humanity like giving monetary donations to various nonprofit organizations, helping people in times of disaster like floods, earthquakes, tsunamis etc.., promoting and helping those who are involved in sports and cultural activities, doing its bit to improve the environment surrounding the company and so on. Governments across the world are also keeping a close eye on CSR aspect of companies operating in their country because government on its own cannot help the society it needs private sector also to help the weaker section of the society.