This paper highlights how CSR has created a good identity of the corporate among the society ,stakeholder, shareholders and government .In 21st century organization corporate have to compete with the competitors.Corporates have to satisfy the stakeholders. Thus by identifying society’s need and giving it back to the society has created the identity of the corporate. Companies need to identify how they can integrate their business strategy with the CSR strategy, and create their identity among the competitors. Extensive study of theoretical framework covering the aspects of management priorities, stakeholder‘s expectation, management system and CSR implementation, was done to explore further CSR and its importance. The key question therefore emerges is that why corporation should invest on CSR? Can CSR initiatives be used as competitive advantage in the long run? Can companies use CSR as leverage for their brand building efforts? Another theory attempts to explain management priorities in order to determine where CSR stands in terms of resource commitment and seriousness of efforts.