Corporate Social Responsibility (Csr): Bangladesh Perspectives
Corporate Social Responsibility (CSR): Bangladesh Perspectives
Corporate means formed into an association and endowed by law with the rights and liabilities of an individual. Social responsibility is an ethical ideology or theory that an entity, be it an organization or individual, has an obligation to act to benefit society- at- large. This responsibility can be passive, by avoiding engaging in socially harmful acts, or active, by performing activities that directly advance social goals. To find a universally agreed definition of CSR is difficult if not impossible. Rather than adding to the futile debate on what elements constitute CSR, we choose to focus on the broader principles upheld by CSR.
We view CSR as a universal business strategic imperative that can be 'localized' to suit organization’s business objectives. It is not a question of 'one size fits all'.
A definition of CSR has come up in Bangladesh as "a set of business practices based on ethical norms and transparency that contributes to the sustainable development of internal and external stakeholder in the best interest of business, society and environment". While debate continues regarding elements that define CSR, few can deny that CSR practice improves operational efficiency, increases standards and reliability in the supply chain, and positively affects employee motivation and loyalty which, in turn, leads to greater productivity.
Other drivers for companies to engage their stakeholders include the fact that CSR practice strengthens a business's license to operate. By facilitating services needed in the community in which a company is seeking entry, CSR practice often enables the company to gain popularity with its customer base, which, in turn, leads to increase sales or retention of market share.
It is important to note, however, that CSR practice is not exclusively for the large companies; neither is it only for those whose concerns are in the export business. Such prevalent
Corporate means formed into an association and endowed by law with the rights and liabilities of an individual. Social responsibility is an ethical ideology or theory that an entity, be it an organization or individual, has an obligation to act to benefit society- at- large. This responsibility can be passive, by avoiding engaging in socially harmful acts, or active, by performing activities that directly advance social goals. To find a universally agreed definition of CSR is difficult if not impossible. Rather than adding to the futile debate on what elements constitute CSR, we choose to focus on the broader principles upheld by CSR.
We view CSR as a universal business strategic imperative that can be 'localized' to suit organization’s business objectives. It is not a question of 'one size fits all'.
A definition of CSR has come up in Bangladesh as "a set of business practices based on ethical norms and transparency that contributes to the sustainable development of internal and external stakeholder in the best interest of business, society and environment". While debate continues regarding elements that define CSR, few can deny that CSR practice improves operational efficiency, increases standards and reliability in the supply chain, and positively affects employee motivation and loyalty which, in turn, leads to greater productivity.
Other drivers for companies to engage their stakeholders include the fact that CSR practice strengthens a business's license to operate. By facilitating services needed in the community in which a company is seeking entry, CSR practice often enables the company to gain popularity with its customer base, which, in turn, leads to increase sales or retention of market share.
It is important to note, however, that CSR practice is not exclusively for the large companies; neither is it only for those whose concerns are in the export business. Such prevalent