Corporate Social Responsibility (Csr): Bangladesh Perspectives Essay

Corporate means formed into an association and endue by law with the rights and liabilities of an individual. Social responsibility is an ethical ideology or theory that an entity, be it an brass or individual, has an obligation to act to headspringbeing society- at- banging-scale. This responsibility idler be passive, by avoiding engaging in kindly harmful acts, or active, by performing activities that directly advance brotherly goals. To find a universally agreed definition of CSR is difficult if non impossible. Rather than adding to the futile debate on what elements constitute CSR, we choose to way on the broader principles upheld by CSR.We view CSR as a universal telephone line strategic imperative that can be localized to suit organizations affair objectives. It is non a question of one size of it fits all.A definition of CSR has come up in Bangladesh as a set of business dresss based on ethical norms and hydrofoil that contri stilles to the sustainable phylo genesis of intragroup and external stakeholder in the best touch on of business, society and milieu. season debate continues regarding elements that doctor CSR, few can deny that CSR practice repairs usable 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 eng eon their stakeholders embarrass the item that CSR practice strengthens a businesss license to operate. By facilitating services needed in the community in which a gild is seeking entry, CSR practice frequently enables the participation to gain popularity with its customer base, which, in turn, leads to increase sales or retention of market sh atomic number 18.It is beta to note, however, that CSR practice is not exclusively for the large companies neither is it only for those whose fixs are in the export business. Such usual misperceptions need immediate rectifi cation, particularly in Bangladesh, where all businesses, both large and small, can enhance their conflict with greater adoption and carrying into action of CSR. By embracing the value of CSR, the Bangladesh peck the stairsground firmament can steer a strong emblem to the introduction(prenominal) market that they are discharging their commitments to society. impuissance to do so voluntarily needfully leads to adverse external pressure, practically with more than(prenominal) strict guidelines and below exceedingly tight timelines. The Centre lead help the hidden sector be more proactive quite a than reactive.CSR practice in Bangladesh is a comparatively new phenomenon and is often misperceived as philanthropy or charity. Also, very often, in that location is a clear privation of integration of CSR with core business strategy. peradventure the greatest challenge in CSR implementation is the fact that CSR practice is perceived by many as a cost a curse rather than as a business opportunity. There is as substantially a lack of quality info and imaginations to sire a business content for CSR and enable the private sector to relate offend by instruction from peers.It is these observations and encyclopaedism that led us to develop the CSR Centre Concept. Through the Centre, we hold to make available better products and tools that will increase awareness on CSR practice benefits, and will excessively help quantify the intangibles of CSR. By championing CSR under a specialized institutionalised framework, we hope that the CSR Centre will fall in greater economic impaction and value addition that nurture so far eluded business in Bangladesh.It is very true that few of us have the highlife of committing extra resources to new initiatives. That is where the benefits of CSR come to the fore. CSR is ab start partnerships and sharing resources, and is not contain to however financial commitments. Partnerships based on truth prin ciples, where businesses can exceed taboo to others with complementary strengths, is a cornerstone of full(a) CSR practice. Through such resource collaborations, businesses can find long shape win-win solutions to complex problems, expand their mesh and find new business opportunities in an increasingly competitive world, and, more importantly, free up resources to concentrate on core competencies.Strategic CSR practices, consistently applied in Bangladesh, will improve the general scrap of the private sector vis--vis international competition, as wellspring as develop Bangladeshs international image as a responsible orbicular maker and service provider.Corporate Social duty (CSR) as defined by the CSR Centre is a set of business practices based on ethical norms and transparency that contributes to the sustainable development of internal and external stakeholders in the best interest of business , society and the purlieu. While debate continues regarding elements that def ine 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 intromit the fact that CSR practice strengthens a businesss license to operate. By facilitating services needed in the community in which a familiarity is seeking entry, CSR practice often enables the phoner 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 misperceptions need immediate rectification, particularly in Bangladesh, where all businesses, both large and small, can enhance their competitiveness through greater adoption and implementation of CSR. B y embracing the values of CSR, the Bangladesh private sector can send a strong signal to the global market that they are discharging their commitments to society. Failing to do so voluntarily inevitably leads to adverse external pressure, often with more strict guidelines and under extremely tight timelines. The Centre will help the private sector be more proactive rather than reactive.CSR practice in Bangladesh is a relatively new phenomenon and is often misperceived as philanthropy or charity. Also, very often, there is a clear lack of integration of CSR with core business strategy. Perhaps the greatest challenge in CSR implementation is the fact that CSR practice is perceived by many as a cost a threat rather than as a business opportunity. There is also a lack of quality data and resources to develop a business occurrence for CSR and enable the private sector to relate better by learning from peers.It is these observations and learning that led us to develop the CSR Centre Co ncept. Through the Centre, we hope to make available better products and tools that will increase awareness on CSR practice benefits, and will also help quantify the intangibles of CSR. By championing CSR under a specialized institutionalized framework, we hope that the CSR Centre will have greater economic impact and value addition that have so far eluded business in Bangladesh.It is very true that few of us have the luxury of committing additional resources to new initiatives. That is where the benefits of CSR come to the fore. CSR is about partnerships and sharing resources, and is not limited to just financial commitments. Partnerships based on equity principles, where businesses can reach out to others with complementary strengths, is a cornerstone of good CSR practice. Through such resource collaborations, businesses can find long bourne win-win solutions to complex problems, expand their network and find new business opportunities in an increasingly competitive world, and, more importantly, free up resources to concentrate on core competencies.Strategic CSR practices, consistently applied in Bangladesh, will improve the general competitiveness of the private sector vis--vis global competition, as well as develop Bangladeshs international image as a responsible global manufacturer and service provider.Corporate Social Responsibility (CSR) when defined at this age of changes world over is a set of business practices based on ethical norms and transparency that contributes to the sustainable development of business and society where environment is being build-in as an essential element. 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. For such reasons the term stakeholders is being redefined to include all the apparent exte rnal stakeholders. Because of the inclusion of environment into CSR, even the bottled water businesses are now under threat to relinquish the plastic bottles and the petroleum companies are under threat to find out alternative energy sources.For companies to engage all their stakeholders, internal and external include the fact that CSR practice strengthens a businesss 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 increased sales or retention of market share. Business Executives and leading are being encountered in Talk Shows as to how they are reinventing their integrated missions to combat climate change, give back to local communities, communicate in an age of Facebook, blogs and they cannot opt for the option to remain unspoken.In Bangladesh, a global food conglomerate Nestle has some operations but nothing stak es in bottled water business though this particular company has about 50% share in this particular business in some of the countries of the world. Under their CSR practice in Bangladesh, as it is understood they have drilled a Deep well in Gazipore, Dhaka and built a water storage tank in order to dish up the local domicile with water. By providing free water to the surrounding community, from a deep tube well they are virtually laying the pedestal of their future bottled water business.Therefore, this free supply by a company is not free in fact. Same Nestle was assailed by environmental activists on Facebook and Twitter globally for business practices that contribute to deforestation inwardly weeks, Nestle had announced a partnership with an independent non-profit, somewhere in the world to eliminate its dependence on unsustainable forest products. Internet with favorable media facebook and twitter already revolutionized our social communications not only at local level but a lso globally for day-to-day changes in a complex reality of urbanization, globalization, commercialization together with reshape-up of regulations world over.In this age of gradually reducing Government stake in businesses world over, businesses are taking up the responsibilities by way of commercialization of everyday goods. Alongside tap waters, wad are taking bottled waters on base Ramna Park, people are using Nandan Park alongside free roads, people are being pursued to get prepared for Toll Roads, kinda of partly export oriented units investors are being motivated for scenery up cent percent exporting units. Instead of 100% local investments a free flow of factors of productions including both labour and capital (such as inflow and outflow of Foreign Direct Investments) world over is in demand which would gradually help a reduction of dependence upon the systems of Governments. With development of a consumer-base, investors are being motivated to invest in locally marketa ble products with surplus only to export.Moreover, there is a growing concern over environmental degradation world over endangering human habitation on the earth so the emerging comparative systems of economics and social transformations are incorporating environment as an important element for socio-economic proportion. Bangladesh as well as whole of the deltaic region on the southern side of Himalaya is under a threat due to changing water flows in the pop up streams of Himalayas caused by increased melting of ice in Himalayas as well as landslide causing movements of billions of tons of silts towards downstream. Tectonic plates in the wedlock and south of Himalayas are in clash at the point in line of Himalayas, which is threatening habitation in entire South Asia, down not only flow of silts and changing flows of water streams, but also series of earthquakes ranging from mild to severe are going to take place. It is not a threat to a particular country like Bangladesh but to t he whole region.Therefore, it will have to be addressed in CSR practices. In Bangladesh, the companies are directly, involved in CSR practices alongside independent organizations formed by volunteers who are being aided by the corporate. National budget of Bangladesh of financial 2011-12 created provisions for tax-deductible contributions under CSR. Similar provisions exist in countries approximately the world. CSR activities are always non-partisan around the world to help advancement of holistic and free play of thoughts and actions in a pluralistic social framework.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 misperceptions need immediate adaptation, particularly in Bangladesh, where all businesses, both large and small, can enhance their competitiveness through greater adoption and implementation of CSR. By embracing the values of CSR, the Ba ngladesh private sector can send a strong signal to the global market that they are discharging their commitments to society. Failing to do so voluntarily inevitably leads to adverse external pressure, often with more strict guidelines and under extremely tight timelines. This is a situation, in which the private sector require to be more proactive rather than reactive. Particularly in the field of operation of housing/habitation in industrial cluster zones, the CSR should contribute by building high-rise dormitories through trade bodies. This will help change of local Bangladesh Taka in view of the demand for wage-hikes.CSR practice in Bangladesh is a relatively new phenomenon and is prone to frequent misperceptions as philanthropy or charity. In addition, very often, there is a clear lack of integration of CSR with core business strategy. Nestls case has shown this but others are just to follow the same. Perhaps the greatest challenge in CSR implementation is the fact that CSR practice is perceived by many as a cost, a sort of threat rather than as a business opportunity. Nestls case as enunciated is a good example of CSR. From which it is clear that CSR does not only implies cost but also lays the foundation of business. There is a lack of quality data and resources to develop a business case for CSR and enable the private sector to relate better by learning from peers. It is necessary for businesses to assimilate data from all over such as the one of Nestle. Global changes in post Washington consensus era are giving the messages of corporate leadership for societal changes as the days of governments, on the points of views are over.It is very true that few of us have the luxury of committing additional resources to new initiatives. That is where the benefits of CSR come to the fore. CSR is about partnerships and sharing resources, and is not limited to just financial commitments. Partnerships based on equity principles, where businesses can reach out t o others with complementary strengths, is a cornerstone of good CSR practice. Through such resource collaborations, businesses can find long-term win-win solutions to complex problems expand their network and find new business opportunities in an increasingly competitive world, and, more importantly, free up resources to concentrate on core competencies.Strategically pinched CSR practices, consistently applied in Bangladesh, will improve the general competitiveness of the private sector vis--vis global competition, as well as develop Bangladeshs international image as a responsible global manufacturer and service provider.