Title : Corporate Social Responsibility: Impact on Social Welfare

Authors : Sharif Ahkam

Abstract : The term “corporate social responsibility” has evolved lately to include environmental sustainability as businesses struggle to pursue a path of sustainable management and growth. Embedded in corporate social responsibility are business ethics and value issues. In the old days, CSR activities were rather charity oriented and took place resulting from pleas from citizens and in major cases, with some lobbying from interest groups. There was a sense of good citizenship in those activities. These days, CSR activities are no longer just a charity issue, not even a compliance issue, participants in the economy are expected to go beyond what constitutes compliance. When it comes to environmental sustainability issues, good global citizenship, and cause for the humanity, the messages business leaders receive is no longer soft, the hear loud and clear that they have a role to play and not listening may have negative repercussions in terms of market share, profits, and human capital. Ignoring CSR is no longer an option. In this paper, I will try to outline a process of measurement to periodically evaluate how successful business units, big and small, have been in integrating their CSR activities with sustainable management and contribute to the health of our environment. In the process, I will summarize the CSR activities of five private banks of Bangladesh who are the leaders in this area, in terms of their focus, understanding of its role, the kind of impact they had, and what further needs to be done.

Journal : Volume : Year : 2015 Issue :
Pages : City : Columbo, Srilanka Edition : Editors :
Publisher : South Asian Management Forum ISBN : Book : Chapter :
Proceeding Title : 13th South Asian Management Forum 2015 Institution : Issuer : Number :