According to BMW:

"Dynamic Stability Control (DSC) is a suspension control system which goes beyond the single components of Anti-lock Brake System (ABS), Cornering Brake Control (CBC) and Automatic Stability Control + Traction (ASC + T). "

An explaination of all of these terms--and more!--can be found at this web site, or one of the links found there:

http://www.bmwworld.com/technology/dsc.htm

This next link (also found at bmwworld) gives an explaination of how you might change your driving technique to take full advantage of a car with this type of system:

http://63.123.226.48/318ti/notebook/asc/