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Present Scenario of CSR in Bangladesh

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The purpose of business is to make money. However, the profit motive is sometimes viewed as less than virtuous because it emphasizes self-interest. Nevertheless, self-interest is not the same as selfishness, which emphasizes one's own interests at others' expense. Self interest is simply a concern for financial reward and is arguably necessary if society is to be maximally productive and efficiently allocate its resources. Business is an inseparable and embedded part of the society. In addition to its economic role in society, business also has several other roles and responsibilities towards society viz. responsible conduct of business activities while pursuing economic gains; the social and environmental responsibilities of the business towards its stakeholders; and business’s contributions that would benefit the society at large. Companies around the globe are recognizing the importance of engaging in Corporate Social Responsibility (CSR) that is crucial to their survival and growth. It is evident that when an organization integrates appropriate CSR practices in its strategy that embed the societal and environmental concerns, these practices undoubtedly bring tangible benefits to the business along with a sustainable competitive advantage.

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Present Scenario of CSR in Bangladesh

  1. 1. Sumitted By, Sumitted To Md. Awal Hossen Lecturer Department of Business Administration Leading University, Sylhet Mahmudul Karim Newaz 1201010205 Syed Ali Hasan 1201010248 Abdul Motin 1201010219 Abu Ahmed Shahib 1201010247 Sourav Roy 1101010291 Ehsan Ahmed Chowdhury 1201010230 Masum Hussain 1201010202
  2. 2. What Is CSR?? CORPORATE SOCIAL RESPONSIBILITY IS THE CONTINUING COMMITMENT BY BUSINESS TO BEHAVE ETHICALLY AND CONTRIBUTE TO ECONOMIC DEVELOPMENT WHILE IMPROVING THE QUALITY OF LIFE OF THE WORKFORCE AND THEIR FAMILIES AS WELL AS OF THE LOCAL COMMUNITY AND SOCIETY AT LARGE CORPORATE SOCIAL RESPONSIBILITY MAY ALSO BE REFERRED TO AS "CORPORATE CITIZENSHIP" AND CAN INVOLVE INCURRING SHORT-TERM COSTS THAT DO NOT PROVIDE AN IMMEDIATE FINANCIAL BENEFIT TO THE COMPANY, BUT INSTEAD PROMOTE POSITIVE SOCIAL AND ENVIRONMENTAL CHANGE.
  3. 3. Details About CSR --- • OPEN AND TRANSPARENT BUSINESS PRACTICES THAT ARE BASED ON ETHICAL VALUES • NO PHILANTHROPIC ACTIVITY AND A BUSINESS MUST EARN FOR WHAT IT INVESTS. • THE CONTINUING COMMITMENT OF BUSINESS TO BEHAVE ETHICALLY • ALSO REFERS TO BUSINESS DECISION MAKING LINKED TO ETHICAL VALUES • THE ROLE OF BUSINESS IN SUSTAINABLE DEVELOPMENT
  4. 4. Internal CSR Refers To Programmes That Focus On The Core Business And On The Workforce • Human Resources (HR) practices • Health, Safety and Environmental ( HSE) practices • Codes of Conduct • Fulfilling and Motivating Work Environment • Employee Development Programmes • Local Content Policies • Assessing and Increasing the Social and Environmental Impact of a Company • Environmental Management Systems ( EMS) • Product Responsibility
  5. 5. External CSR Refers To Programmes That Focus On The Core Business And On The Workforce • Community development programmes • Sponsorships corporate SOCIAL responsibility • Donations • Contributions to civil society organizations ( CCSO) • Educational programmes at various levels • Supply -chain management • Cluster development • Involvement in the development debate
  6. 6. Bangladesh Economy • Capita income of just about $1,300 US/year • Economy is growing rapidly, with a 5-6% annual growth rate from 1996 to 2008 (BMZ, 2010). • From 1990 Bangladesh commenced a move towards a free market economy. • A floating exchange rate mechanism was introduced from 2003. • Bangladesh is a member of the global economy • Many of the companies carrying out CSR activities such as BGMEA and BKMEA • Bangladesh enterprise institute (BEI) and the CSR center bangladesh
  7. 7. CSR In Bangladesh • CSR concepts and practices in bangladesh • CSR practices in bangladesh in its modern global terms • CSR entails working with stakeholders • The implications of CSR for business activities • CSR in bangladesh can also contribute a lot to community development • Lack of enforcement of industrial laws and regulations • CSR practices and standards are being gradually implemented in bangladesh
  8. 8. Component of CSR • 1. THE ECONOMIC COMPONENT • 2. THE LEGAL COMPONENT • 3. THE ETHICAL COMPONENT • 4. THE PHILANTHROPIC OR DISCRETIONARY COMPONENT
  9. 9. 1. Better business risk management. 2. Improved organizational image. 3. Enhanced Talent Management ability 4. Improved innovation, competitiveness and market positioning 5. Enhanced operational efficiencies and cost savings. 6. Improved management of supply chain relationships. 7. Enhanced ability to manage change. 8. Building Corporate Social Capital in the community. 9. Access to capital. 10. Improved relations with regulators. 11. Acting as catalyst for responsible consumption.
  10. 10. • Benefits to the Community and the General Public • Environmental Benefits
  11. 11. Roles In Companies In Social Process • Advancement and Qualification • Youth Work in The Region • Improved Reconciliation of Work And Family Life • Health Care • The Energy Revolution And Shortage of Raw Materials • Diversity of Their Workforce • To Prevent Corruption in Business Life
  12. 12. Limitation And Constraints • Lack of awareness about CSR • The free market perspective as a limitation • Predefined initiatives • Lack of recognition of csr by the top Administrators • Lack of commitment from the personnel of an organization
  13. 13. Recommandation : • Public Disclosure • Performance Management And Governance • Stakeholder Engagement • Corporate CSR Strategy • Research And Information Sharing on CSR • Capacity Building • Worker's Rights Ensured • Awareness Building Programme • Create a CSR Policy
  14. 14. Coclusions In view of the above it can be concluded that CSR is no longer exclusively practiced in developed countries; companies in the developing countries like bangladesh are showing interest and commitment to CSR as well. Although most people appreciate the recent advancement of CSR, some argue that corporations are still not doing enough or are only acting in selfinterest. Furthermore, stakeholder expectations, critical social issues, norms, and values, and institutional and sociological requirements also change over time.

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