BUFT Journal of Business and Economics

Corporate Social Responsibility: An Assessment of Approaches of Bangladeshi Companies

BGMEA University of Fashion and Technology; University of Dhaka
Email: ibmahfuz@gmail.com; hazera@du.ac.bd

Abstract

Purpose: This study explores the approaches of Bangladeshi companies towards CorporateSocial Responsibility (CSR) in terms of their perception of ethical issues in conductingbusinesses and the forms and scale of their CSR activities.Methodology: The methodology components of this exploratory study are: an extensiveliterature review, identification of the issues and dimensions of CSR in business firms,development of data collection tools, conducting the survey and interviews, and dataprocessing and analysis.Findings: Most companies are observed to view CSR as philanthropic donations andcharitable work. Their CSR activities do not serve the interests of all stakeholders. They alsodo not have an organizational structure of CSR planning and implementation. Companiesother than those in the banking sector do not have CSR budget.Practical Implications: The study is expected to benefit the stakeholders of Bangladeshicompanies and the policy makers to review the CSR activities of companies and to upgradetheir CSR planning and performance.Originality: The study shows how Bangladeshi companies deal with CSR responsibilities andsuggests that further studies are required in the light of findings from the literature review andthe analysis of the current CSR practices of these companies. The study emphasizes theimportance of ethics in considering issues like social norms and standards, the interests ofstakeholders such as pays and benefits to employees, workplace environment and safety,product safety and norms in accounting, finance and marketing, whistle blowing, environmentconservation and payment of taxes to government.Limitations: Company executives are reluctant in disclosing their budgets and expenditures inphilanthropic activities. It was difficult to assess the position of many companies because theirexecutives lacked clear understanding of the concept and practices of CSR.