Topic > Corporate Social Responsibility in Bangladesh - 2990

1.1 CORPORATE SOCIAL RESPONSIBILITY (CSR) CSR is defined in Investopedia (2014) as an exercise of action of non-financial benefit by a company that wishes to take responsibility of natural resources and public well-being. Baker (2004) defines CSR as how companies manage their business and have a positive impact on the public. The interest of stakeholders is to know whether certain companies have a positive impact on the surrounding environment and the public. By regularly contributing to economic growth, companies can be considered as practicing CSR where by doing so the quality of life of human capital and the public could be improved. (Holme & Watts, 1999). In the United States, CSR is defined as a benevolent model in which companies make profits and contribute part of their profits to charity.2. LITERATURE REVIEW 2.1 AFTER THE COLLAPSE OF RANA PLAZA MATH Bangladesh All Party Parliamentary Group (2013) believes that Bangladesh should be supported by reforming the ready-made garments (RMG) sector. The UK, as a major export market and contributor of support, is responsible for providing the necessary help and transferring knowledge. 2.2 CSR IN BANGLADESH According to Mondol (2009), Bangladeshi companies have been practicing CSR for a long period of time. Their charitable practices include contributions to several charitable organizations, unfortunate people, and religious institutions. However, there are no precise guidelines regarding the company's involvement in community charitable activities in terms of charitable expenditure. Furthermore, many small and medium-sized enterprises (SMEs) have an inadequate management system to address public and ecological problems. Bangladeshi companies only focus on maximizing profit rather than contributing to society and Mother Nature. Unfortunately, the...... middle of paper ...... laza collapse has shown that the government as well as local or global companies are not serious in improving the safety environment for employees. To summarize, as stated above, Bangladeshi workers, other people, Bangladesh government, mass media, welfare organization, other neighboring countries, Rana Plaza employees union, Rana Plaza Company, engineers and the building inspectors, mother nature and heavy machinery, the owner of Rana Plaza (Sohel Rana), garment factory owners and last but not least the Western retail giants. It's time for a global denunciation against the "income before public" system. Because heartless people saw low-wage Bangladeshi workers only as sources of profit and took advantage of them. It can also be concluded that it is possible that the same Rana Plaza collapse incident will happen in the future if we stay and do nothing.