Corporate social responsibility (CSR) refers to an organisation's duty to operate in an honourable manner, provide good working conditions for employees, encourage workforce diversity, be a good steward of the environment and actively work to better the quality of life in the local communities where it operates and in society at large. Acting in a socially responsible manner thus encompasses more than just participating in community service projects and donating monies to charities and other worthy social causes. Discuss your understanding on the term CSR and whether you believe it is important to for organisation to report on their CSR activities in the annual report. Use examples to illustrate your answer.