Corporate Social Responsibility

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TABLE OF CONTENTS:

* Part one: Introduction

A Brief Description of CSR 9
A Brief Description of CSR Practices by Bangladeshi Companies 10 A Description of Reporting Practices Including Reporting of CSR Activities 12

* Part Two: Statement of the Problem

Emphasis on Business Involvement in CSR Activities 15 Theoretical Discussion on CSR Practices 19
Why The Reporting Necessary in relation to CSR Practices 22 Standard of Listed companies in Bangladesh with Regard to Social Audit 23

* Part Three: Objectives, Scope & Methodology of the Study

Objectives 26
Scope 27
Methodology 28

* Part Four: Findings of the Study

Sample Enterprises 30
Areas of Social Responsibilities Discharged 33
Reporting Practices 36
Evaluation 37

* Part Five: Conclusion

Summary of the Findings 39
Future Directions 40
References 42

Part one:
Introduction

A Brief Description of CSR

Corporate social responsibility (CSR), also known as corporate responsibility, corporate citizenship, responsible business, sustainable responsible business (SRB), or corporate social performance, is a form of corporate self-regulation integrated into a business model. Ideally, CSR policy would function as a built-in, self-regulating mechanism whereby business would monitor and ensure its support to law, ethical standards, and international norms. Consequently, business would embrace responsibility for the impact of its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere. Furthermore, CSR-focused businesses would proactively promote the public interest by encouraging community growth and development, and voluntarily eliminating practices that harm the public sphere, regardless of legality. Essentially, CSR is the deliberate inclusion of public interest into corporate decision-making, and the honoring of a triple bottom line: people, planet, profit. The term "CSR" came in to common use in the early 1970s, after many multinational corporations formed, although it was seldom abbreviated. The term stakeholder, meaning those on whom an organization's activities have an impact, was used to describe corporate owners beyond shareholders as a result of an influential book by R Freeman in 1984.

A Brief Description of CSR Practices by Bangladeshi Companies

In Bangladesh many organization has started CSR practices. Given the broad definition of CSR there are many areas of business operations that are affected by it. The most often mentioned elements of CSR are:

* Governance: Sound governance, ethical conduct of staff, transparency of operations, no conflicts of interest, compliance with listing rules, compliance with corporate law. * Risk Management: Organizational health & safety, product safety, regulatory compliance, reputation management, responsible business practices, stakeholder engagement. * Value Chain: Responsible procurement, supplier management, externalization of costs, supplier screening, supplier feedback, fair trade. * Social: Human rights, community engagement, philanthropic activities, charitable donations, staff volunteering, social benefits, local capacity building, social investment. * Employees: Turnover, morale, satisfaction, work-life balance, internal culture (transparency), labor practices, job security, remuneration, diversity, equal opportunity, training. * Environment: Environmental footprints, waste & pollution avoidance, eco-efficiency, product recycling, sustainability, greenhouse gas emissions, resource reduction, Precautionary principle. * Measurement: GRI (Global Reporting Initiative) reporting, internal & external audits, Verification statements, management targets. The...
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