IN TODAY'S EVER CHANGING AND EVER GROWING ECONOMIC AND SOCIAL ENVIRONMENT PACE, SUBJECT MATTER RELATED TO SOCIAL AND ENVIRONMENTAL RESPONSIBILITY ARE GAINING MORE AND MORE IMPORTANCE, ESPECIALLY IN THE BUSINESS SECTOR. CORPORATE SOCIAL RESPONSIBILITY (CSR) IS NOT ONLY DRAWING THE CORPORATE MAGNETS INTO ITS PERIMETER, BUT IT ALSO ATTRACTING EDUCATIONISTS, SOCIAL ACTIVISTS, SKILL DEVELOPERS AND REFORMISTS FROM ALL OVER THE WORLD TO EXPLORE DEEPER INTO IT. CHANGING GLOBAL MARKET SCENARIO, SUCH AS EMERGENCE OF GLOBALIZATION, AND TERMS LIKE ETHICAL CONSUMERISM ALL ARE ADDING HEAT TO THE IMPLEMENTATION OF CSR PRACTICES. EVERY BUSINESS ORGANIZATION IS SHOWING THEIR COMMITMENTS TOWARDS CSR FOR ENHANCING THEIR CORPORATE IMAGE OR AND TO ATTRACT MORE INVESTORS. EMERGENCE OF DIVERSE MARKETING INNOVATIONS DEMANDS THE DIRECT ASSOCIAION OF CSR PRACTICES WITH THE BUSINESS CORPORATE STRATEGIES. THE PRESENT ARTICLE REVIEWS THE CSR LITERATURE FROM 1931 TO 2011, CONVEYING CHANGING DEVELOPMENTS OF CSR PRACTICES.