My own definition is that CSR is about how companies manage the business processes to produce an overall positive impact on society. The nature of, and quantity of their impact on society in the various areas. Outside stakeholders are taking an increasing interest in the activity of the company. Most look to the outer circle - what the company has actually done, good or bad, in terms of its products and services, in terms of its impact on the environment and on local communities, or in how it treats and develops its workforce. Traditionally in the United States, CSR has been defined much more in terms of a philanphropic model.
Companies make profits, unhindered except by fulfilling their duty to pay taxes.
Then they donate a certain share of the profits to charitable causes. It is seen as tainting the act for the company to receive any benefit from the giving. The European model is much more focused on operating the core business in a socially responsible way, complemented by investment in communities for solid business case reasons. In different countries, there will be different priorities, and values that will shape how business act. One thing that is for sure - the pressure on business to play a role in social issues will continue to grow.