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CSR is significant for almost all multinational corporations (MNCs), regardless of country of origin, size and sector.

Corporate social responsibility, also known as corporate responsibility, corporate citizenship, responsible business, sustainable responsible business or corporate social performance, can be defined as the "economic, legal, ethical, and discretionary expectations that society has of organizations at a given point in time. CSR is generally defined as an approach adopted voluntarily by corporations and without external regulation by either stakeholders or the state.

Common CSR practices in Bangladesh by MNCs are centered around namely poverty alleviation, lack of equal opportunity around the world, consumer concern, employee safety and welfare, healthcare, education, charity activities, cultural enrichment, youth development, women empowerment, patronizing sports and music etc. these activities are devised to be the partners in development as responsible citizen.

MNCs supports and involvement with the local government is essential to poverty eradication in developing nations. The reduction of poverty in developing countries depends on the growth of local and international business. For a local business to flourish it must have access to the global resources, productions and markets via MNCs. The second reason is about the momentum of MNCs and local actors in social change. Poverty reduction requires systemic change, and MNCs are the world's most efficient and sustainable engines of change. MNCs provide political leverage with local governments and international organizations. MNCs can offer opportunity for people to work and be productive. They can also work with local stakeholders to motivate and empower young people to learn and organize to gain knowledge and power. MNCs in developing countries are often the first choice for private sector jobs by young people, who are attracted by the higher salaries and the learning opportunities.

Certain core values were identified by the WBCSD as integral to corporate social responsibility. These are: i. ii. iii. iv. v. vi. vii. Human rights Employee rights environmental protection Community development Supplier relations Monitoring Stakeholder rights.

In an approved set of Guidelines for Multinational Enterprises, the OECD advices corporations to among other things: i. Contribute to economic, social and environmental progress with a view to achieving sustainable development. ii. Respect the human rights of those affected by their activities consistent with the host government international obligations and commitment. Iii. Encourage local capacity building through close cooperation with the local community. iv. Encourage human capital formation, in particular by creating employment opportunities and facilitating training opportunities for employees. v. Abstain from any improper involvement in local political parties responsibilities

Responsibilities regarding social responsibilities


The economic responsibilities refer to society's expectation that organizations will produce goods and services that are needed and desired by customers and sell those goods and services at a reasonable price.

The legal responsibilities relate to the expectation that organizations will comply with the laws set down by society to govern competition in the marketplace. including consumer and product
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laws, environmental laws, and employment laws. Regulation in itself is unable to arrange every aspect of a corporation's operations.

The ethical responsibilities concern societal expectations that go beyond the law,

Finally, the discretionary responsibilities of corporations refer to society's expectation that organizations be good citizens.

Managerial decision of multinational company


Manager should consider following concept to make decision The concept of International Social responsibility includes that decision should not effect on social and economic effect. The manager of multinational companies should anticipate and try to solve problem in society. Mangers will have a trade off of the rights of host country stakeholder and home country stakeholders. They should make decision that satisfies most these stakeholders.

Stakeholder
The numerous and diverse stakeholders of MNCs include global customers, investors, creditors, global employees 'supra-national' level stakeholders, e.g., the UN and its agencies, the European Commission, the OECD; a variety of cross-border interest and activist groups, international NGOs championing issues such as consumer-protection, environment, safety, health-care, labor rights local communities in home country as well as host countries; and the environment at the global as well as the local level. The communities in developing countries and the environment are often called 'weak or 'silent' stakeholders CSR requires companies to accept a broader view of its responsibilities that includes not only stockholders, but many other stakeholders as well, such as employees, suppliers, customers, the local community, state, and federal governments, environmental groups, etc

Debate
The practice of CSR is not free from controversy and criticism. Mostly, CSR is often criticized because it is believed that the first and foremost responsibility of a company is its financial responsibility to its shareholders.