This action might not be possible to undo. Are you sure you want to continue?
y Part one: Introduction
A Brief Description of CSR A Brief Description of CSR Practices by Bangladeshi Companies A Description of Reporting Practices Including Reporting of CSR Activities
9 10 12
y Part Two: Statement of the Problem
Emphasis on Business Involvement in CSR Activities Theoretical Discussion on CSR Practices Why The Reporting Necessary in relation to CSR Practices Standard of Listed companies in Bangladesh with Regard to Social Audit
15 19 22 23
y Part Three: Objectives, Scope & Methodology of the Study
Objectives Scope Methodology
26 27 28
y Part Four: Findings of the Study
Sample Enterprises Areas of Social Responsibilities Discharged Reporting Practices Evaluation
30 33 36 37
y Part Five: Conclusion
Summary of the Findings Future Directions References
39 40 42
CSR policy would function as a built-in. consumers. ethical standards. is a form of corporate self-regulation integrated into a business model. regardless of legality. The term stakeholder. The term "CSR" came in to common use in the early 1970s. although it was seldom abbreviated. Consequently. meaning those on whom an organization's activities have an impact. CSR-focused businesses would proactively promote the public interest by encouraging community growth and development. and the honoring of a triple bottom line: people. planet. profit. was used to describe corporate owners beyond shareholders as a result of an influential book by R Freeman in 1984. also known as corporate responsibility. employees. or corporate social performance. self-regulating mechanism whereby business would monitor and ensure its support to law. corporate citizenship. Ideally. and international norms. . Essentially. responsible business. communities. and voluntarily eliminating practices that harm the public sphere. stakeholders and all other members of the public sphere. CSR is the deliberate inclusion of public interest into corporate decision-making. after many multinational corporations formed. sustainable responsible business (SRB). Furthermore.A Brief Description of CSRi Corporate social responsibility (CSR). business would embrace responsibility for the impact of its activities on the environment.
ecoefficiency. y Measurement: GRI (Global Reporting Initiative) reporting. Sound governance. remuneration. supplier management. stakeholder engagement. product safety. y Social: Human rights. fair trade. no conflicts of interest. responsible business practices. y Employees: Turnover. externalization of costs. greenhouse gas emissions. . labor practices. Precautionary principle. waste & pollution avoidance. supplier screening. compliance with listing rules. product recycling. transparency of operations. philanthropic activities. staff volunteering. satisfaction. y Environment: Environmental footprints. resource reduction. job security. work-life balance. reputation management. internal culture (transparency). charitable donations. social benefits. The most often mentioned elements of CSR are: y Governance: corporate law. social investment. training. supplier feedback. equal opportunity. y Value Chain: Responsible procurement. sustainability. morale. regulatory compliance. Verification statements. management targets. local capacity building. community engagement.A Brief Description of CSR Practices by Bangladeshi Companiesii In Bangladesh many organization has started CSR practices. internal & external audits. diversity. Given the broad definition of CSR there are many areas of business operations that are affected by it. compliance with y Risk Management: Organizational health & safety. ethical conduct of staff.
especially in the areas of risk management and employees. .The sheer size of this simple list goes a long way towards explaining the dilemma that companies are faced with. Doing µall of CSR¶ might cost up to 2% of total revenue. so picking a suitable approach to implementing CSR whilst keeping the big picture in mind is the way to go. It is neither feasible nor desirable for a company to do it µall at once¶. but at the same time most companies already cover many of these areas under different headings.
None of the banks have issued separate reports of their CSR programs and activities in comprehensive standard formats such as the GRI. the international standard setters are lagging behind to bring this issue within the legal framework of accounting and reporting. As a result. and their annual reports are published from their parent country. It was also observed that: y 1 SCB. y 2 SCBs. y 1 SCB and 11 PCBs have provided details in those supplements. They have reported the action programs along with amount of investment made in each program. 1 DFI and 13 PCBs have reported the CSR activities separately as a chapter in the annual report to make it available in the public domain for perusal by stakeholders. In case of FCBs. 3 SCBs (75%). only audited financial statements are prepared for the host country. it becomes a common area of voluntary disclosure at the time of reportingiii. one DFI (20%) and 29 PCBs (97%) have reported their CSR initiatives as supplements to usual annual financial reports in accordance to the directive of Bangladesh Bank. Still. As there is a huge demand from the stakeholders for such information. In the banking sector.A Brief Description of Reporting Practices Including Reporting of CSR Activities Corporate social responsibility (CSR) reporting is an embracing issue today that becomes the social perspective of accounting and reporting. one DFI and 4 PCBs have included a future plan in the annual financial reports. Additional information had to be asked . disseminating their CSR activities as supplements to usual annual financial report do not apply.
For convenience of all involved. there is a positive indication that the volume and quality of reporting is increasing. banks and financial institutions will be well advised to take steps for more elaborate reporting in comprehensive standard formatsiv. still. over and above the information provided in annual reports of banks. . It concludes that the pattern of such reporting is far away from expectation. There is no standard set for reporting social responsibility activities in annual report of Pharmaceutical companies. out of the 26 companies only a few have reported their social responsibility activities in public. In the Pharmaceutical sector.for in compiling this review.
Part Two: Statement of the Problem .
.Emphasis on Business involvement in CSR Activitiesv Despite the gap that exists between the voluntary participation in CSR activities and the weakness in enforcement of legal requirements. These are legally required but are never enforced in Bangladesh. can be considered an integral part of CSR activities because they are voluntary in nature. repayment of loans. schools. In addition. falls in the category of social responsibilities of the companies. FGDs noted that companies are engaged in activities like providing education for the children of their workers. hospitals.. etc. Some have argued that given the weakness in our enforcement ability. Companies could have avoided paying them because of either the weak enforcement characteristics or the existence of high level of corruption in the society. Some of them are forced into it due to consumer pressure (from foreign countries) but a large majority of them have adopted CSR as an integral part of their social entity either to promote their name in the domestic market or as a pure philanthropic gesture. medical facilities. etc. payment of public utility bills. it has been observed in the FGDs that many Bangladeshi enterprises are involved in CSR activities. Similarly. payment of taxes. draughts. Activities like supporting cholera research centre. CSR activities include voluntary donations at the community levels during floods. healthy environment within the factory premises is also part of CSR in Bangladesh. Precautionary activities to safeguard health of the workers and also customers are sometimes CSR activities in Bangladesh. . etc. In terms of CSR activities related to human rights and labor rights. and other workers¶ welfare scheme are primarily voluntary in nature in Bangladesh. scholarships. or helping weaker section of the society by patronizing social activities or institutions. cyclones.
communities. Help for the Senior citizens. 1. Awareness campaign on health and health care. Supporting medical research centers. Financial Institution Interest free loans for students. Helping the families of the workers in education and health care. recycle and reuse) during waste disposals are engaged in CSR activities and it is still voluntary for a majority of companies in Bangladesh. Participation in environment friendly activities.In the environmental front. companies following the 3Rs (reduce. Establishment of community organization/institutions. Donation for the cause of humanity and society. Similarly. Examples of CSR activities in Bangladesh During the FGDs the following examples of CSR activities were cited by different participants. . Savings instruments for the low income groups. companies who have established treatment plants within their premises are doing so voluntarily and hence could be considered as a CSR activity. Pharmaceuticals Social Responsibilities Production of innovative new medicines. 2. Publication of health care journals to update the professional knowledge of the doctors. women. etc. Supporting hospitals.
Precautionary arrangements for the factory premises. Strict consideration for health and hygiene factors. Economic responsibilities Paying taxes regularly.Environmental responsibilities Regular maintenance of machines by the qualified personnel. Product quality or standards. Repaying loans. ISO certification. Transport facilities for workers especially for women. Attractive compensation package for workers (beyond minimum wage requirements). Enhancing the quality of the life of the people by helping families in need. 3 Light Engineering (Lead acid batteries): Social responsibilities Ensuring educational facilities for the workers. Regularity in payment of dividends. . Investing in improving the quality of workers. Helping the children of the workers: Establishing educational and training institutes. Product standards. Ensuring affordable prices for essential drugs. Environmental responsibilities Establishing effluent treatment plants. ISO certificates.
regularly. Labor Law. paying dividends. repaying loans. . Campaigns for use of chemical free fertilizers. Economic responsibility: Paying taxes. Ensuring educational facilities for the workers. etc. Encouragement in the use of natural dyes. Scholarship programs. paying dividends. etc. Home Accessories Social responsibilities Responsibility towards the workers. Avoidance of the use the harmful artificial color. Helping workers by providing attractive compensation packages. Providing educational. Environmental responsibility: Proactive measures for maintaining pollution free environment. Introduction of the paper bags to replace polythene bags. Providing interest free loans to workers. repaying loans. regularly. and other facilities for the children of the workers. etc. healthcare. Ensuring accesses by all employees to the medical facilities. Establishment of effluent treatment plants. 4.Economic responsibilities Paying taxes. Compliance to Factories Act.
They are involved in the community development work in the form of charity without having any definite policy regarding the expenses or any concrete motive regarding financial gains in many instances. environmental management and transparency in corporate governance are not satisfactory. Moreover. fair treatment of workers. most of the businesses in Bangladesh are family owned and first generation businesses. but also for industrialization and ensuring global market access.Theoretical Discussion on CSR Practicesvi CSR concepts and practices in Bangladesh have a long history of philanthropic activities from the time immemorial. most of the SMEs fall under the informal sector having low management structure and resources to address the social and environmental issues. largely due to poor enforcement of existing laws and inadequate pressure from civil society and interest groups like Consumer Forums. are relatively new. being a part of the global market. it is difficult to ignore CSR standard specifically in the export sector. A focus on CSR in Bangladesh would be useful. Till now. as CSR practices are gradually being integrated into international business practices and hence is becoming one of the determining factors for market accesses. CSR entails working with stakeholders it is important to work from within and diagnose the stakeholders. In general. These philanthropic activities included donations to different charitable organizations. These limitations drive the top management of local companies to think only about the profit maximization rather than doing business considering the triple bottom line: profit. labor rights. not only for improving corporate governance. it is true that in Bangladesh. it is becoming equally instrumental for local acceptability. The discussions on CSR practices in Bangladesh in its modern global terms. work place safety. Since. community development and environment management. Globally. planet and people (CSR definition of Lotus Holdings). but not so for the concept itself. Because. the status of labor rights practices. many . By now. poor people and religious institutions. concerns so that CSR is truly embedded in the companies.
Overseas workers are mostly exploited by recruiting agencies whereas these rural and mostly illiterate people have to sell all their belongings becoming paupers of lend money at very high interest. Unbelievably low compensation. many of them get compelled to come back as beggars. absence of consumer rights groups and high level of corruption within the regulatory bodies make CSR violation rampant in Bangladesh. the RMG sector employees have embarked on an industry wide movement to establish their rights. Hardly any remedy is available from the law enforcing agencies. weak unions. some after long confinement in overseas jails. Lack of enforcement of Industrial Laws and Regulations. soil and water pollutions. Two most significant foreign exchange sources are the RMG sector and the overseas manpower export. The US and EU buyers set guidelines to RMG industry to ensure the standards. The SMEs largely depend upon export. fire safety and various types of abuse are so common and to the extent of inhumanity that wild shock any conscientious individual to the core. Recently. Owing to cheating by the recruiters and unlawful behavior by the overseas employers. . health/hygiene/sanitation conditions. Some of the exporters found difficulty in convincing the US/EU buyers to have positive attitude towards Bangladesh due to inadequate CSR practices. working hours.CSR dimensions are practiced in Bangladesh. More modern factories also don¶t care to install Effluent Treatment Plants. Many industrial units run with half-century old machinery producing fatal air.
fruits and all other conveyable goods. keeping fish fresh with applying deadly Formalin and all other malpractice is rampant and carefree. .Starting from FMCGs. adulteration. Good Governance and efficient law enforcing agencies can only solve these plights. abnormal ripening at times with poisonous elements. vegetables.
. y Identification of social responsibilities. y Increasing transparency of corporate activity. It may also be defined as ³an approach to reporting a firm¶s activities which stresses the need for the identification of socially relevant behavior.Why is Reporting Necessary in Relation to CSR Practices Corporate social reporting is the process of communicating the social and environmental effects of organizations' economic actions to particular interest groups within society and to society at large vii . y More accurate product or service costing. y Enhanced image management and Public Relations. It is also known as corporate social responsibility Reporting or non-financial reporting. y Identifying social and environmental costs of economic success. The importance of corporate social responsibility reporting are given below: y Honoring stakeholders' rights of information. the determination of those to whom the company is accountable for its social performance and the development of appropriate measures and reporting techniquesviii. y Balancing corporate power with corporate responsibility. y Increased information for decision-making. y Maintaining legitimacy. y Identification of market development opportunities.
1994. y ISO 14010 Guidelines for Environmental Auditing: General Principlesxii: ISO 14010 provides general principles of environmental auditing that are applicable to all types of environmental audit reviews. y ISO 14011 Audit Procedures and Auditing of Environmental Management Systemsxiii: ISO 14011 establishes audit procedures that provide for the planning and conduct of an audit of an environmental management system. to provide a uniform program to assure safer meat and poultry products... y ISO 14004 General Guidelines on Principles. It is housed within the Department of Animal Science at Texas A&M University. It applies to those environmental aspects which the organization has control and over which it can be expected to have an influence. . y ISO 14001 Environmental Management x : ISO 14001 was first published in 1996 and specifies the actual requirements for an environmental management system. y ISO 14012 Qualification Criteria for Environmental Auditorsxiv: ISO 14012 provides guidance on qualification criteria for environmental auditors and lead auditors. and their co-ordination with other management systems. Systems and Supporting Techniques xi : ISO 14004 provides guidance on the development and implementation of environmental management systems and principles.Standard of Listed Companies in Bangladesh with Regard to Social Audit The standards which are guidelines for the listed companies in Bangladesh with regard to social audit are given below: y International HACCP Alliance ix : The International HACCP Alliance was developed on March 25.
y ISO 26000 ± Social Responsibilityxviii: The International Standard ISO 26000. . y OHSAS 18001 Occupational Health and Safety Zonexvi: OHSAS 18001 is an international occupational health and safety management system specification. globally relevant guidance for private and public sector organizations of all types based on international consensus among expert representatives of the main stakeholder groups and so encourage the implementation of best practice in social responsibility worldwide. they may experience and erosion of efficiency. SA8000 ± our comprehensive and flexible system for managing ethical workplace conditions throughout global supply chains. provides harmonized. Guidance on social responsibility. etc. y SA 8000 xvii: Social Accountability International (SAI)¶s mission is to promote human rights for workers around the world. It comprises two parts 18001 and 18002 and embraces BS8800 and a number of other publications.y ISO 19011 Guidelines for Quality and Environmental Management Systems Auditing xv: The cost of failing an environmental/quality management systems audit can take a number of forms: companies can lose valuable contracts or prized certifications. they may have to pay for an expensive range of improvements demanded by a client. BS EN ISO 19011: 2002 therefore offers guidelines for quality and/or environmental management systems auditing.
Part Three: Objectives. Scope & Methodology of the Study .
Objectives Corporate social responsibility enables an organization to operate efficiently. y To make a comparative study on reporting practices of selected listed pharmaceutical companies in respect of corporate social audit. . The objective of the study is: y To make comparative study on selected listed pharmaceutical companies with regard to involvement CSR activities.
The exercise of quantification of corporate responsibility status is first of its kind in Bangladesh which provides the study the status of a benchmark study. We have only studied the current status of Pharmaceutical industry of Bangladesh and for that we have selected five Pharmaceutical companies operating in Bangladesh. .Scope The study attempted to capture the current status of the corporate responsibility practices in Bangladesh.
y Center for Policy Dialogue¶s report about corporate social responsibility in Bangladesh. As there was no primary data available for the study. The following are the sources of data collection: Secondary data: y Articles available on the internet.Methodology To prepare this paper. y Bangladesh Bank¶s repot about corporate social responsibility of banks etc. . so we have to rely on the secondary data available for the study. y Annual report published by the Pharmaceutical companies on the internet. y Text books. main emphasize has been given on the secondary data. y Newspapers features.
Part Four: Findings of the Study .
As a public limited company. USA under licensing arrangements. The list of the sample enterprises are given below: Beximco Pharmaceuticals Ltdxix: The company was incorporated in 1976 and commenced operations in 1980 with the manufacturing and marketing of products of Bayer AG. Germany and Upjohn Inc. the company started manufacturing its own formulations and it launched export operation in 1992. and Beximco Pharma has the unique distinction of being the only company in the country listed on AIM of London Stock Exchange.Sample Enterprises A sample was collected to help evaluate Pharmaceutical company¶s policies and procedures regarding CSR activities. Today Beximco Pharma is the largest exporter of pharmaceuticals in the country and the only company to win National Export Trophy (Gold). for record three times. We relied on information publicly available through the companies¶ websites. . and the first to produce CFC free inhalers. It supplies more than 10% of country's total medicinal needs. In 1983.. The company is the largest producer of Metered Dose Inhalers (MDIs) in the country. BPL is also the first company to produce antiretroviral drugs (ARVs) locally. the company that produces intravenous fluids was amalgamated with the parent company. In 2005 Beximco Infusions Ltd. The company information was often not easily accessible causing time constraints that kept the sample size small to 5 companies. and business databases. its shares are actively traded in Dhaka Stock Exchange and Chittagong Stock Exchange. reports.
Eskayef is growing more global since 2005 and exporting bulk pellets and finished products in Asia. is one of the leading and fastest growing pharmaceutical company of Bangladesh. . We are one of the few pharmaceutical companies researching both medicines and vaccines for the World Health Organization¶s three priority diseases ± HIV/AIDS. Africa. tuberculosis and malaria. and Central America and also in the process of exporting in the European countries.is committed to improving the quality of human life by enabling people to do more.Eskayef Bangladesh Ltdxx: Eskayef Bangladesh Limited. feel better and live longer. Ireland. and are very proud to have developed some of the leading global medicines in these fields. which is engaged in the manufacture and marketing of a wide range of therapeutic drugs. GlaxoSmithKline Bangladesh Ltdxxi: One of the world's leading research-based pharmaceutical and healthcare companies . bulk pellets and animal health and nutrition products with annual sales surpassing 60 million US dollars. The company is also tied up with the world leader in eye care solution Allergan Inc. the world-class healthcare solution provider.
PPL has an aim to lead the market of Branded Generics in Bangladesh with a portfolio of vital molecules while at the same time. it has today burgeoned into one of the top line conglomerates in Bangladesh. (PPL). PPL is manufacturing and marketing its high quality and wide variety of product range both in home and abroad. . the pioneer manufacturer of Human Insulin in Bangladesh. Square Pharmaceuticals Limited is the largest pharmaceutical company in Bangladesh and it has been continuously in the 1st position among all national and multinational companies since 1985. Square Pharmaceutical Ltd Bangladeshxxiii: From the inception in 1958.Popular Pharmaceutical Ltdxxii: Popular Pharmaceuticals Ltd. Square Pharmaceuticals Ltd is holding the strong leadership position in the pharmaceutical industry of Bangladesh since 1985 and is now on its way to becoming a high performance global player. the leading corporate house in the private sector Health Care Management of the country. is a company of Popular Group. progressing for the next wave of novel products. It was established in 1958 and converted into a public limited company in 1991.
o International vaccination day. Oseflu. o World Environmental Day. of Bangladesh as well as different reputed organizations. Since 2005. has been donated to the govt. for treating the AIDS patients in Bangladesh. . y Oseflu® to fight against Avian and Swine Flu: Since its launch in March 2006. BPL¶s brand of oseltamivir capsule. of Bangladesh on 24th April 2007 and also has come to an agreement with HSBC for supply of Bird Flu drug SKflu® (oseltamivir). y Providing Treatment for AIDS patients in Bangladesh: Responding to the needs of thousands of AIDS patients in the country.Areas of Social Responsibility Disclosed The areas of social responsibility disclosed are given below: Beximco Pharmaceuticals Ltdxxiv: y Donation of medicines: We donate and make available a large quantity of medicines to the victims of natural disasters.International Blood Donor Day. both national and international. a leading local bank. Beximco Pharma has been supplying ARV drugs through Dutch Bangla Bank. y Road shows: o Neosaline Banner on-World Breast Feeding Day. Eskayef Bangladesh Ltdxxv: y Donation of SK-flu to GOB: Eskayef Bangladesh Limited donated 3000 capsules of Bird Flu drug (SK-flu®) to the Govt. we are proud to be associated with the initiatives to provide treatment for these patients. o Neosaline Train Rally on.
They support better asthma management through advocacy. Bangladesh: Preliminary efficacy and safety trial (AViDD-1)´ and will be using Vitamin D Solution supplied by Popular Pharmaceuticals Ltd. y During 2007: We provided a project grant of US$ 14. y During 2009: We gave BDT 184. meetings. o SIDR victims.y Eskayef employees donated their one day salary for the victims every times like: o Flood victims.000 to support disease awareness of asthma. An additional 200000 BDT was given to strengthen patient advocacy and patient summit activities. GlaxoSmithKline Bangladesh Ltdxxvi: y Club Excel: Club Excel provides information services for patients to learn about asthma and increase disease awareness and exchange information on healthcare rights to improve advocacy agenda's by raising the experience and voice of patients to support more effective asthma management and dialogue in policy forums and physicians' chambers. y Popular Pharmaceuticals Ltd provided necessary support and required services to PROJAHNMO to ensure the quality of their 4% Chlorhexidine solution. Bangladesh will conduct a research. . a news letter. regular patient meetings and patient counseling services. y During 2008: We provided 300000 BDT to support patient advocacy activities. patient counselling and newsletter services. entitled ³Antenatal vitamin D supplementation to improve neonatal health outcomes in Dhaka. Popular Pharmaceutical Ltdxxvii: y International Centre for Diarrheal Disease Research.500 through an unrestricted grant to support disease awareness and advocacy support for patients living with asthma.
y Social Events: o Housing and transportation facilities for women worker of Square. is providing necessary support and required services to Department of Gastroenterology. o Ambulance to Pabna Purashabha. Dhaka Medical College & Hospital to conduct their research properly. o Support to ICDDRB for research on childhood diarrhea. y Medical Community: o Donation to the government on the occasion of bird flu. o Aid to Islamic Republic of Iran. . y Diabetic Association of Bangladesh (DAB) is conducting ³Diabetes Prevention Trial´ at BIRDEM. o Road safety campaign. o Organizing Meril Int¶l Cup Cricket. o Establishment of Square kindergarten.y Popular Pharmaceuticals Ltd. o Senora acid-burn welfare fund. is the scientific partner of this clinical trial. Square Pharmaceutical Ltd Bangladeshxxviii: y Education: o Reconstruction of Annada Gobinda public library 1 & 2. y Sports: o Helping to raise fund for BCCB (Football). Popular Pharmaceuticals Ltd. o Donation to Pabana Mental Hospital.
. But only few of them publish their annual report on their website. So it can be said the report they publish is a financial report and they had not yet accounted social responsibility properly in their annual report. they do not disclose detail corporate social responsibility activities taken by them rather than they discloses a small clause naming Corporate Social Responsibility in their annual report.Reporting Practices All the Pharmaceutical companies in Bangladesh publish an annual report of their activities for their share holders. When it comes to disclosing corporate social responsibility activities. The report they publish yearly focuses on their yearly financial activities.
All of these needs to be improved. absence of strong labor unions or consumer rights groups and inability of the business community to perceive CSR as a survival pre-condition. y Though they are practicing corporate social responsibility but they are not disclosing it properly to the public. As our study was completely on secondary source so we can¶t say that whether those companies who haven¶t disclosed their corporate social responsibility activities on the internet are practicing it or not. It can be said that: y The Pharmaceutical companies have started practicing corporate social responsibility.Evaluation By evaluation of the study. y Out of the 26 Pharmaceutical companies operating in Bangladesh less than 10 companies have disclosed their corporate social responsibility activities on their web site. . There is also lack of good governance. y In Bangladesh there is no policy of government about corporate social responsibility.
Part Five: Conclusion .
While in the past it was basically thought to be corporate philanthropy. Corporate responsibility status has been becoming the prerequisite for sourcing goods and services from the developing and the least developed countries. Other industry such as Pharmaceutical Company needs to follow the benchmark created by the banks of Bangladesh and the government of Bangladesh needs to make standard regarding corporate social responsibility. could be solved at company level. the business case of corporate practice is gaining momentum. Some organizations in Bangladesh have started practicing corporate social responsibility and some have not. The policy makers and businessmen of the least developed countries such as Bangladesh have been put into a very disadvantageous position since they are never in a condition to ensure a corporate standard set by the global business leaders on the basis of their business status and objectives. The interventions expected from the Government may be making. monitoring and enforcing of laws related to major corporate responsibility issues such as environment protection. as the economies of the world are becoming integrated. labour rights while majority of such issues. . health and safety.Summary of the Findings The concept of Corporate Social Responsibility has been passing through a transitional phase. The banks in Bangladesh are ahead in this regard. now.
y Environmental concerns should receive greater attention by the companies. y Corporate-community relations are found to be strained. y More consultation should take place between the employers and the employees so that a team spirit is restored in the corporates. the following policy options can be adopted: For the Companies: y As both the civil society group and workers hold negative opinions about the corporate responsibility. y Health and safety issues deserve greater attention given that failure in these areas impact negatively on the productivity and endanger human life. y The variability of perceptions indicates specific areas where to intervene and set priorities. .Future Directions Based on the study. companies have to seriously consider how to restore their image. All the controversial issues including the overtime issue should be taken note of and settled through a multi-stakeholder initiative. The corporate owners and executives should consult and communicate with the local communities on a regular basis. y Gender aspects should be more carefully addressed and monitored for their implementation.
y Provide the logistic support for enhancing the overall corporate standard and stay and carefully monitor the initiatives of the global trade partners and regimes so as to ensure that the corporate responsibility issue is not used as a pretext for market access barrier. For the Government: y Provide policy guidelines for smooth functioning of the corporate entities.For the Civil Society: y Should enhance their participation as a stakeholder in the corporate affairs for holding the corporate entities accountable to the greater segment of the populace. health and safety issues. y Policy advocacy. environment protection. y Monitor and enforce laws related to labour issues. y Should contribute to the process of awareness building of all the stakeholders so that the corporates do not function in an exploitative condition. y Should contribute to the process of multi-stakeholder exchange of views and ideas in terms of both initiating and organising multi-stakeholder forums. .
edu/ewu/downloadfile/crt/abstract2009/12.com/iso14010.com. Social and Environmental Accounting (London: Financial Times Prentice Hall. ix. Crowther.H.htm xii. http://www. http://www.L. Gray.iso14000-iso14001-environmental-management.iso14000-iso14001-environmental-management.php?title=Special:Book&bookcmd=rendering&return_to=Corporate+so cial+responsibility&collection_id=4c90a5203146e042&writer=rl ii. Corporate Social Reporting: Accounting and accountability (He Hempsteameld: Prentice Hall.htm xiv.com/iso14011.References i. IX. http://www.com/iso-19011.org/w/index.org/sub/index.org/downloadreports/publicationdownload/60/download vi.htm xv. 1987) p. http://en.thefinancialexpress-bd.iso14000-iso14001-environmental-management.au/articles/Making_Sense_of_Corporate_Social_Responsibility_Part_II.htm xiii. 20. D. p. http://www. http://www.iso14000-iso14001-environmental-management. viii. http://www.htm xi. http://www. D.ohsas-18001-occupational-health-and-safety. http://www.iso14000-iso14001-environmental-management.com/more. http://www.bei-bd.com/iso14012.junoconsulting.Owen & K.pdf?q=icc-t20world-cup v.htm xvi. pdf iii.wikipedia.org/pub/annual/csr/csr0809. R.T. http://www.php?news_id=88734 vii.iso14000-iso14001-environmental-management.ewubd.com/iso14004.html x.Maunders.com/ . http://www. http://www. 2000).haccpalliance.pdf iv. http://www.bangladesh-bank.com/iso14001.
gsk.com/about-us. http://www. http://www. http://csrbangladesh.html .http://www. http://www. http://www.html xx.com/ xxiii.com.skfbd.org/SA%208000.htm xxviii.beximco-pharma.com/index. http://www.com/ xxi.gsk.beximco-pharma.xvii.squarepharma.htm xxvii.popular-pharma.html xxiv.com.com/about-us/corporate-social-responsibility.iso.htm xix. http://www.html xxv.org/iso/iso_catalogue/management_standards/social_responsibility. http://www.skfbd.com/ar_support.bd/AboutUs.squarepharma.htm xxii.popular-pharma.com/worldwide/bd.php?page=46&pid=21 xxvi. http://www.php xviii. http://www.bd/SocialContribution.com/responsibility/patient-groups/international-bangladesh. http://www.
This action might not be possible to undo. Are you sure you want to continue?
We've moved you to where you read on your other device.
Get the full title to continue reading from where you left off, or restart the preview.