The document discusses the importance of multinational corporations practicing corporate social responsibility (CSR) when investing in Burma. A common approach to CSR is corporate philanthropy, but some companies integrate CSR into their core business strategy using concepts like creating shared value. For long-term success, businesses must develop sustainable environmental practices, fair treatment of employees and communities, and create economic value (people, planet, profit model). In Burma's context, there is a need to support social enterprises that help marginalized groups by reducing administrative burdens on starting social businesses.

1. Corporate Social Responsibility (CSR)
Burmese government should pay attention to ensure when
Multinational Corporations (MNCs) invest in Burma whether
they got Corporate Social Responsibility (CSR)1
in place. A more
common approach to CSR by Foreign Direct Investment (FDI) is
corporate philanthropy. Some MNCs may incorporate the CSR
strategy directly into the business strategy but some approach
may be Creating Shared Value (CSV)2
which is based on the idea
that corporate success and social welfare are interdependent
since a business needs a healthy, educated workforce,
sustainable resources, and adept government to compete
effectively. For society to thrive, profitable and competitive
businesses must be developed and supported to create income,
wealth, tax revenues, and opportunities for philanthropy.
People, planet and profit (3Ps)3
model should be used and
practiced. People relates to fair and beneficial business
practices toward labour, the community and region where
corporation conducts its business. Planet refers to sustainable
environmental practices. Profit is the economic value created by
the organization after deducting the cost of all inputs, including
the cost of the capital tied up. In Burma's context, where social
enterprises are targeting the most marginalised communities
with goods and services, there is a critical need for support to
create an enabling environment in which they can thrive such as
by reducing the amount of red tape and interference they face
in starting social businesses.
1
Corporate social responsibility (CSR) refers to companies taking responsibility for their impact on society.
2
The concept of shared value recognizes that societal needs, not just conventional economic needs, define markets.
3
Triple bottom line http://www.economist.com/node/14301663