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Manager’s Vision for Corporate Social Responsibility
Mohammed Abdullah Mamun Department of Business Administration, Faculty of Economics & Management Sciences International Islamic University Malaysia Zalal Uddin Ahmed Research Fellow in M. Phil Program, Department of Management Studies University of Chittagong, Chittagong, Bangladesh Abstract The purpose of the paper was to understand the manager’s vision on CSR performance in business of Bangladesh. This study found that the manager’s perceptions on CSR were varied from classical to socio-economic views of CSR. The reasons of such variation were contextual changes due to institutional pressures. But the actual CSR performances in the businesses were found poor because of some limitations mentioned by different stakeholders in the study.
Keywords: Vision, Corporate Social Responsibility, Stakeholder Over recent decades, the role of business organizations within society has received increasing attention, and the expectations towards these organizations have increased accordingly. The term that has been coined for these expectations is ‘corporate social responsibility’ (CSR) (Schouten and Remme 2006). Today, it is generally recognized that CSR is of strategic importance to ensure long-term business competitiveness and success. Its track record has already been demonstrated and is well documented. Its potential is enormous in the areas of employee performance, cooperation among other stakeholders (business partners, consumers, suppliers) and an engine of economic growth (Lamy 2002). So, the stakeholders’ views on CSR performance of business are enormous, and the key responsibility in this performance goes to the managers generally and to the top management of the corporation specifically. This paper examines the manager’s vision on CSR performance of corporations in Bangladesh.
1. The Research problem
The business of the twenty first century - whatever its size - is going to be part of a global business community, affecting and being affected by social change, events and pressures from around the world. Whether the company has 50 employees or 50,000, its linkages to customers, suppliers, employees and communities around the world are likely to be more numerous, divers and important to its success. This is why the relationship between business, government, and society is so important to understand both as a citizen and a manager. Whether looked at from outside business - as a member of the community or from within business - as a manager, entrepreneur or employee - it is important to see how business can blend economic and social purposes together with minimum conflict and maximum benefits for all (Post, et. al. 1996).
Both as a member of WTO and as a spokesman for 48 LDCs Bangladesh have to participate in all the negotiations of international trade. Rather. (Raihan 2002). It indicates without taking care of the society. fair wage. it is an outcome of public pressures arising from the operations in the locality. non-restricted market competition. consumers and other publics interested about business operations. Quite consistently with other LDCs. But as an LDCs. imposition of trade barriers to foreign market. these problems need to be addressed properly. Thus corporate social responsibility (CSR) is a concept whereby companies integrate social and environmental concerns on their business activities (Julie 2002). rather the responses should be more efficient and effective. Competitiveness of corporate entities of Bangladesh could be improved by involving more on emerging concerns of CSR issues. as they created some of the problems in their revenue generating races. In a country like Bangladesh for a multinational/transitional company. business organizations have some obligations to the society. and of course. proper fund management. increase competitiveness and ensuring at the same time environmental protection and promoting social rights. In achieving such standards meant by trade delegates the country’s corporate sectors responsibility towards community.Manager’s Vision for Corporate Social Responsibility 632 Such a relationship becomes more and more complex as the whole world is now moving towards system where most nations will play to the “same rules”. But it is also true that the ongoing process of trade liberalization in the wake of economic globalization has brought to bear many new challenges upon LDCs. like employee. Bangladesh is not prepared to compete with developed and developing countries in complying with rules and obligations provided by various Uruguay Round agreements (LRC-KsK 2001). But the studies made by different researchers on the issue showed unsatisfactory performances data. In the same globe. Bangladesh often encounters restrictive trade practices in the world market (Islam 2003). So. Of course the issues identified are related to internal people or the company. employee safety. corporate executives. fair advertisement. However. Organizations intend to maintain existing state have to be coped with all the required standards suggested by those corporate bodies from developed countries and donor agencies. Bangladeshi enterprise have to be responsible to all the parties concerned. While numerous research findings reveal that CSR practices add values to the business operations. the people of business enterprises have to be convinced that the arguments placed in favor of CSR practices are exaggerated. There are also cases where business enterprises have got all the expertise to initiate steps necessary to solve social problems. etc. environmental safeguards. the game is not yet played on a “level field”. and external society. Moreover. investors and consumers increasingly heading toward a meaningful set of practices. Above all. which is the dialogue of corporate social responsibility today. Active participation into social issues has created confidence. companies are aware that they can contribute to sustainable development by managing their operations in such a way as to enhance economic growth. deregulation and privatization. CSR has been termed as a process driven by globalization. shareholders. shareholder and mangers. etc. reasonable price and quality living of consumer and employee. employees. In Bangladesh trade performance of local businesses become challenging due to poor efficiency. So the business houses have to adjust with so called international standards in case of manufacturing standards Economically dominance in the region has asked for following international rules and regulations relating to worker’s safety. It is no more with the expectations only. Hence there is a very real need for a move to an economic system that allows first for social transitions and subsequently for a new social order broadly in line with calls for sustainable development and planetary equity (McClements and Smallman 1998). etc. increases image and finally enhanced reputation to the business enterprises. which as such turned into profitable growth of the market share of them. no business activity can be transacted into the society. This realization was due to the fact that the economic liberalization and deregulation policies implemented by Bangladesh at the behest of the IMF and the World Bank and pursuant to its treaty commitment in the WTO have created further economic inequity and instability in the country. today expect organizations to be engaged in some social issues like. consumer’s quality life. for the time being those of global capitalism. With the changing socio economic . In the context of both trade regulations by the agencies and the market conditions itself.
The road to the transitions identified here is not so easy. quality services and finally protecting community interests. a target which. But in case of Bangladeshi business organizations. is one outcome of these developments (Timmins 2004). Corporate social responsibility (CSR). for their growth. population planning. 2. the increased size and influence of companies. there is an urgent need to design actionable agendas to cope with the attendant risks. In this connection it may be mentioned that the growth rate of Bangladesh’s industrial sector is still well below levels necessary for the manufacturing sector to claim a share of 25 percent in the GDP. The milestones are as the achievements in the areas of literacy. . trade dynamism and investment acceleration could be a good start for the country to be targeted for the next twenty years. In the context of globalization and liberalization where the country’s trade and industrial sectors are facing increasing challenges in translating comparative advantages into competitive advantage. infrastructure development. The relationship between companies and civil society organizations has moved on from paternalistic philanthropy to a re-examination of the roles. CSR need to be recognized and practiced. efficiency increasing. To this end it was considered essential to conduct a comprehensive study on social responsibility of business in Bangladesh. agricultural growth. rights and responsibilities of business in society. Objectives of the Study Social responsibility of business. since its inception in some of the developed societies of during nineteenth century has been practiced by most of the business organizations in those countries and also in their partners. to understand contemporary CSR views established in global perspective.633 Mohammed Abdullah Mamun and Zalal Uddin Ahmed environment these issues are changing and the managers have to think about the issues raised in the contemporary CSR practices of global companies. This study is thus an attempt to understand the managers’ vision on the issues getting important in CSR of their businesses. Rationale of the study The past twenty years have seen a radical change in the relationship between business and society. defined in terms of the responsiveness of business to stakeholders legal. fair employment practices. is envisaged under the Industrial Policy of 1999. Like many other countries. ethical. energy development. rather very complex and extremely difficult for a country like Bangladesh. Manager’s vision on CSR performance has been considered important in this situation. The secret of success in such a venture lies in a national commitment to development. and also make good use of the newly emerging opportunities (CPD Task Force 2003). better industrial life. Not many research works is found to have been done on social responsibility performance of Bangladeshi enterprises. In this attempt the study has identified the following objectives to be achieved. experience of social responsibility is not at all satisfactory. employment creation. an indomitable pursuit of better life and happiness. Key drivers of this change have been the globalization of trade. 3. As such the status. social and environmental exceptions. More and more responsibilities are coming to the role players of such organizations. the business enterprises in Bangladesh. the repositioning of government and the rise in strategic importance of stakeholder relationships. and an unflinching faith in the lofty ideal of a civil society (Muhith 1999). knowledge and brand reputation. In cooperation with the government. and competitive advantage into revealed competitive advantage. problems and prospects in this regard cannot be reasonably ascertained. v. The development agenda of the country’s economic progress gives imperatives for all the organizations participating in the process of development. CSR has also proved to foster growth and prosperity in developing and least developed countries (Lamy 2002). to examine the attitude of managers of the industries on CSR contemporary issues. In this new role to the society. as mentioned earlier. corporate sectors have to be responsible enough to ensure investment climate. stability and prosperity and along with for the development of the country. vi.
Corporate contributions for charitable and similar purposes were quite significant. Simple descriptive statistics were used to draw conclusions form the respondents’ answers on the issues raised in the study. The employees of the same enterprise were interviewed on the issues to understand the differences between opinions.Manager’s Vision for Corporate Social Responsibility 634 4. It is observed that corporate philanthropy has flourished over the years. The same set of issues were questioned to another set of stakeholders known as civil society comprising people from other professions of the society like Engineer. Now a day. As a result. Levi Strauss. who has very narrow view of CSR. The attitude survey was conducted on the issues raised from the literature. value trend analysis. In contemporary world. socio-political forecasting. cable.e. Contemporary Views of Corporate Social Responsibility With the change of time the areas and scope of corporate social responsibilities along with changing emphasis on the conceptual aspects have been found to change. To this end it is advocated that the business houses may employ environmental scanning. From the opinion of the managers responses the factors responsible for poor CSR performances were examined. both in Public and Private. At present greater emphasis is found to be given on addressing social problems by corporate body directing or indicating as far as feasible. artistic activities in many fields. But few will know of or remember those innovative deeds because such social initiatives tend to be smothered by the dominant economic and financial values of the business system. First the study tried to explore today’s views on CSR performances. Politician. recreational programs for the elderly. basic medical research on rare diseases. Investor. chemical. the biggest port city of the country. He contends that a corporate executive has a responsibility to “make as much money as possible while conforming to the basic rules of the society. both those embodied in law [emphasis added] and those embodied in ethical custom. and many other such undertakings benefit from corporate largesse (Frederick 1983). many scholars in the social issues in management field have suggested that compliance with the law is a necessary condition for firms to be considered socially responsible.” Similar issue is being highlighted by a more . social responsibility committees composed of board members or top-level managers. The other consideration of selecting the industries was availability of same of type of enterprises in the sectors i. The opinion of this group also used to interpret the responses given my managers of corporations. social auditing. The study concentrated on the industries where a good number of large well established enterprises were found for data availability. the existing literature reviewed to understand the contemporary views of CSR in today’s world.. Control Data. Then the next section tried to find out the manager’s attitude on the issues found effective in the context of global CSR performances. 5. In fact without such contribution many fragile and humanitarian institutions of the western countries would die: health care for the poor and needy. Methodology The study tried to find the managers’ attitude on CSR performances in different public and private sector enterprises in Chittagong. The managers selected for the study were both at top and mid level positions. social wheels are frequently reinvented by business. etc. educational opportunities for youth. glass. and various other social innovations intended to enhance the organization’s ability to respond to present. Teacher. So. some socially innovative ideas have emerged from the social responsibility movement. and Xerox Corporation of US have shown what might be done when corporate talent is focused on society’s problems and needs. argues that there is an obligation to obey the law while seeking profit. A total of 60 managers from both public and private businesses were interviewed in the study. For instance. It was limited to the attitude to understand the vision of the managers on CSR performances. and port authority. family support programs. The scope of the study was limited to managers of the industries of Chittagong City. and to anticipate future social pressures. gas and oil. even Friedman. Student. The industries selected are fertilizer. Physician. (Frederick 1983). Bangladesh. comprehensive public affairs programs.
This is in part because of the economic orthodoxies of the last fifty years. Preston and Post. (Gill & Leinbach 1983) In the above context social responsibility is considered as an essential element of business.without any shred of evidence. the first phase of what one might call a new Kondratcheff cycle. When the demand for capital grows rapidly surplus business revenues available for non-economic purposes. In the above context.” They see business as the dragon slayer-and themselves as St. Other definitions or views of corporate social responsibility. directly or indirectly linked to exploit business opportunities. who feel that to convert problems into business opportunities is prosaic and not particularly “romantic. But princes were able to be benefactors because they first took it away. into well-paid jobs. into business opportunities (Drucker 1984). But the proper “social responsibility” of business is to tame the dragon that is to turn a social problem into economic opportunity and economic benefit. of course. by now. McGuire. Decaying businesses in a decaying economy are unlikely to be good neighbors. and. whether communist or capitalist. These views also support the position that compliance with the law is a necessary but not a sufficient condition for a firm to be considered socially responsible (Wokutch & Spencer 1987). This is the . which contain a legal component.” that is. It is not true. good employers or “socially responsible” in any way. In fact. His definition of CSR specifies legal as well as economic. and the community are factors undeniable involved in organizational decision-making processes. into productive capacity. It is now generally recognized that profit and humanism are not mutually exclusive. employees. Davis. and probably quadrupled. They are almost certain to shrink. Cracco and Rostenni. include those provided by Conrad. Similarly. Sethi’s three-stage model of social performance postulates that obeying the law is a necessary but not a sufficient condition of social responsibility (Wokutch & Spencer 1987).635 Mohammed Abdullah Mamun and Zalal Uddin Ahmed comprehensive view of CSR provided by Carroll. ethical. mostly from the poor (Drucker 1984). And there will be equal need for a “surplus” to pay for the Research and Development needed when technology as well as the world economy and society. this argument will not satisfy those who believe that today’s businessman should become the successor to yesterday’s prince-a delusion to which businessmen unfortunately are only too susceptible.” lead to investment and thereby to the creation of jobs. by the way . especially for “philanthropy. Management in civilized society has come to acknowledge that the changing requirements of stockholders. the oldest and perhaps the only truly valid definition of “economic progress” is the shift to jobs requiring more capital investment per worker. no other “social responsibility” can be met. and Stone. that we are in the mature stage of a Kondratcheff cycle. Naturally. is rapidly changing (Drucker 1984). So it is also today’s thinking in most of the cases that business can perform social responsibility according to its own interest. In such context it is said that the first “social responsibility” of business is then to make enough profit to cover the costs of the future. and when capital investment per worker cover twenty or thirty short years at least tripled. though widely believed. It is the increasingly important responsibility for creating the capital. and discretionary responsibilities. Shanklin. indeed have entered. This assertion has.that consumption will automatically. The demand for capital formation will be as great as the demand was a hundred years ago when today’s modern industries emerged. customers. If this “social responsibility” is not met. Georges on white chargers. which alone can finance tomorrow’s jobs. into human competence. Hamilton. asserting . the stage before the industries of tomorrow emerge. highly developed or barely developing. it is asserted that the first “social responsibility” of business in the next decade will be one not mentioned in the discussion of the “social responsibilities” of business today. capital formation is low. So is the profit. But in the next decade it will become increasingly important to stress that business can discharge its “social responsibilities” only if it converts them into “self-interest. been exploded and disproved. again especially among businessmen. which put consumption into the center.” cannot possibly go up. Rockefeller. and into wealth (Drucker 1984). But also it is becoming clear that we are entering. In all countries today. and the world finds the old industries decline. through a “multiplier. There are also those.
educational movie makers. working conditions and ethical marketing practices (BSR 2001). and the Prince of Wales Business Leadership Forum in 1999 did find that surveyed 25. Shrinking Role of Government In many countries. governments. These efforts emphasize the issue of accountability to stakeholders when doing business (BSR 2001). etc. Here it may be mentioned that there is a growing number of organizations that help consumers and businesses with their purchasing decisions by rating companies and products or publishing lists of products to seek out or avoid based on social criteria. Increasingly. There is a growing ability and sophistication of activist groups to target corporations they perceive as not being socially responsible. such as a company's environmental performance. Increased Customer Interest The growing interest in CSR comes from both business-to-business customers and consumers. The trends outlined below are receiving increased coverage by the media. according to several studies. In this regard the findings of a study by Environics. there is a significant move by many companies. It revealed that 17% of 25. adopting their own policies to govern such matters as environmental performance. private companies. and so on (Drucker 1984). national and local governments have taken a more hands-off approach to regulating business. As a result.000 survey respondents reported that they had actually avoided the products of companies they perceived as not being socially responsible. numerous studies correlate consumer-purchasing preferences with ethical and socially responsible business conduct. such as the continuing education of already well-educated adults. universities and other institutions to align their purchasing decisions with social criteria. biochemistry. though it is unclear the extent to which these sentiments translate into actual changes in purchasing patterns. and even "denial of service" attacks on company websites. Against the above discussion we can say that the growth of corporate social responsibility as an issue in modern society stems from a wide range of events and trends. but in the hands of entrepreneurs. companies and multinational companies in particular are relying less on government for guidance. More important. associations. due to the globalization of commerce and shrinking resources. . The Conference Board. And with them emerge other totally new industries. shareholder resolutions. In the former. through actions such as public demonstrations. they are looking to the private sector to help with myriad complex and pressing social and economic issues. as a result of which there was a fairly low need for capital formation (Drucker 1984). To be sure old industries are still declining or are being restructured. In the latter.Manager’s Vision for Corporate Social Responsibility 636 stage we can now say in which the world found itself in the last twenty five years (although the symptoms were quite different from those which Kondratcheff postulated sixty years ago). and instead. communication. We have already passed that stage. labor practices or community-involvement record (BSR 2001). Changing Expectations of Stakeholders Regarding Business The public and various stakeholders have come to expect more of business. new industries are exploding-information. We have been in a phase in which existing technologies were extended and modified with fairly low marginal costs. which may well be the major growth industry of the next ten years and which increasingly is not in the hands of traditional educational institutions such as colleges and universities.000 citizens in 23 countries regarding corporate social responsibility. particularly those related to companies' environmental and human rights performance. bioengineering and genetic medicine.
investors. and the new demands brought about by the increased interest in environmental sustainability (BSR 2001). non-English-speaking.especially professional. ethical decision-making and corporate governance.343 billion. "cyber ethics" issues of access to and privacy linked to information technology. from $529 billion to $1. For example. At the same time.to meet current and future demands for both skilled and entry-level employees (BSR 2001).637 More Competitive Labor Markets Mohammed Abdullah Mamun and Zalal Uddin Ahmed In a tight labor market. community involvement. encouraging suppliers to adopt socially responsible business practices (BSR 2001). some companies have found that having "familyfriendly" policies or being identified as an employer of choice have given them a competitive advantage in attracting and retaining employees. religious freedom in the workplace. This has a cascading effect along the entire supply chain. .that is. community groups. The result is that some companies are imposing codes of conduct on both their suppliers and customers to ensure that other companies' policies or practices do not reflect unfavorably on them. many companies are putting increasingly detailed information about their social and environmental performance . Many of these investors are using the shareholder resolution process to pressure companies to change policies and increase disclosure on a wide range of CSR issues.497 billion in 1999. As part of this move toward greater disclosure. Supply Chain Responsibility As stakeholders take a growing interest in companies' corporate social responsibility. Included among these are corporate governance issues. both for consumers and employees. assets in socially screened mutual funds grew by 60 percent to $154 billion. According to the Social Investment Forum.even when it may be negative . environmental activists. companies are finding they need to turn to nontraditional labor pools -. such as how boards of directors are chosen and compensated. total assets under management in screened portfolios for socially concerned investors rose 183 percent. technical or highly skilled employees -. Growing Investor Pressure The growth of socially responsible investing has accelerated in recent years. trading partners and others are asking companies for more and more detailed information about their social performance.are looking beyond paychecks and benefits to seek employers whose philosophies and operating practices align with their own beliefs. a company's suppliers as well as its customers and even its customers' customers. During that same period. human rights practices. regulators. consumer concern over the use of genetically modified organisms in agriculture. Activist groups are also buying shares in targeted companies to give them access to annual meetings and the shareholder resolution process (BSR 2001). and physically or mentally challenged individuals -.including economically disadvantaged. since 1997. workplace policies. In response. and assets in screened separate accounts grew 210 percent to $1.onto their publicly accessible websites (BSR 2001). many companies are finding that they are responsible not only for their own CSR performance. including environmental responsibility. with investor groups increasingly pressuring companies on social issues. New and Emerging Issues Recent years have seen a growth in the breadth of topics considered under the "corporate social responsibility" umbrella. Demands for Increased Disclosure Customers. leadership companies are responding with a variety of reports and/or social audits that describe and disclose their social performance on one or several fronts. but for that of the companies "upstream" and "downstream" -. many workers -.
That is. the other one. especially in industrially developed countries. stakeholder theory has potential as an integrating theme for the business and society discipline (Donaldson & Preston 1995. Carnegie’s innovation has become a uniquely American institution. But the crux of the problem is that the heightened ethical sensitivity. 6. The one was an owner. from Rockefeller to Ford. managing competing stakeholder interests is a primary management function (Ansoff 1984). especially in the more economically advanced nations. to be specific about the issue the findings of survey report relevant to the specific views of executives and concerned people are presented below. the foundation. and a hyperactive media have combined to create a very difficult management situation. the past decade or so has seen a proliferation of ideas about the proper role of business organizations in society. On the one hand. a manager. Government regulation has proliferated.Manager’s Vision for Corporate Social Responsibility 638 The trends explained in the above section have demonstrated recent emphasis of corporate social responsibility.” Carnegie still saw a business as “ownership”. managers must devise strategies that will make their organizations competitive in the world economy.. they must provide high returns for their shareholders. Related issues are the relationship between stakeholder management and the perception that a firm is socially responsible. business enterprises involve themselves in wealth maximizing activities. Rosenwald. Every interested segment knows that the management of competing stakeholder interests has emerged as a significant topic in the management literature. Although social issues have been debated for centuries. attempt was made to review contemporary views and visions about social responsibility of business as revealed through literature. On the other hand. by which. Rosenwald was an “executive. Rosenwald saw a business as a “trust”. Interest in the topic has been promoted by increased sensitivity to ethical issues among individuals and organizations. and faulty production leading to consumer inconvenience or danger are highlighted in the media. At this stage. Investors and investment fund managers have begun to make investment decisions on the basis of social responsibility as well as pure economics.” (Drucker 1984). Harrison & St. Although the events explained here are differing from context and application possibility. Theory and models surrounding these issues are abundant. productivity and competence of farmers. is following Carnegie’s example. In addition. From this perspective. who became successful executive in American enterprises. Issues such as damage to the environment. only recently have they joined the mainstream management literature as a legitimate area of inquiry. Freeman & Gilbert 1987. Consequently. saw a business as a trust in which he explained any prosperity as depending on the skill. however. Consumers have become increasingly sensitive to the social performance of the companies from which they buy. Attitude Toward CSR: The Survey Result So far. Less than a generation separated Carnegie (born in 1835) from Rosenwald (born in 1962). Carnegie also set the tone for what is now known as “the social responsibility business. improper treatment of workers. John 1996). The viewpoints given by a professional manager and an entrepreneur in the last decades made it clear that in most of the enterprises social responsibility of business is being accepted as developing community. some strategies lead to actions that various stakeholders find offensive. Wood & Jones 1995). In its view of “social responsibility” much of American business and the American public still follow Carnegie. They accept as he did that wealth and economic power entail social responsibility for the community. So the next section of the research will focus contemporary views of stakeholders’ thinking on CSR issues. So his motives was clearly behind philanthropic that is showing good feeling or love to his fellow men. increasing competition. and the performance implications of both stakeholder management and social responsibility. . but empirical research is in an early stage. Jones 1995. but the prime consideration in each concept is satisfaction of stakeholder. Effective stakeholder’s management can help managers resolve these types of ethical dilemmas (Freeman 1984. but Carnegie still was a “rich man”. with one after the other of the super-rich.
and . Norniman and Radar and Bowman reported that more managers were concerned with establishing stronger ethical and moral policies to govern the actions of managers in their operations. varying from profitable business growth to community & social development. John Steiner conducted direct interviews with top executives about their beliefs. they concluded: (i) Social responsibility issues will continue to be important. Holmes conducted a similar survey among the fortune 500 in 1976 and concluded that the trend toward greater acceptance of social responsibilities was continuing. the Harvard Business Review surveyed 3. and public” (3) “A Corporation’s duty is to serve as fairly and equitably as it can the interests of four. he found that almost all mangers were in favor of corporate social responsibility.639 Mohammed Abdullah Mamun and Zalal Uddin Ahmed Academics and researchers in different parts of the world conducted opinion survey to understand views of mangers/executives and other people involved in company management. The survey results showed mixed opinion of the people surveyed on the issue. Webley reported in his survey that over 90% of the 130 U. Chief Executives questioned agreed with the statement that the company has functions and obligations beyond the pursuit of profit. They found that there is an understanding and appreciation of corporate social responsibility. They considered profit as equally important goal. in continuing services. However. Mc Guire and Parish studied the rapidly accelerating corporate involvement in urban problems of the United States and reported that nine out of every ten executives said that the recent increased involvement in business in urban affairs is likely to be permanent.453 of its subscribers and asked them how valid they thought. Only 2 percent said it was the most valid. (ii) Environmental protection will continue to be a significant policy issue. At the end of spectrum were 17 percent who said that business should assume social responsibilities even at the cost of reduced profits. and the public” (4) “The Primary duty of the enterprise is to itself – to ensure its future growth and continued functioning as a profit-making supplier of goods and services”. Udell. In another study in 1971. He made videotapes of approximately 15 chief executive officers of major corporations. in India. under the present politico-economic conditions. (iii) The regulatory environment will grow increasingly complex. From a sample of 46 respondents. Based on the responses of 147 executives. Louis was one of the first to survey managers with regard to social problems.K.P. with consumerism being an even stronger pressure. that there seems to be an increase. Sixty-one percent said that the third statement was the most valid. Seventy four percent responded that the first statement was the least valid of the four. employees. 95 percent of the respondent said their companies were involved in the social program. His survey of 350 executives polled by Fortune magazine showed that 10 percent felt that the sole business of business was to make a profit. Laczniak and Lusch surveyed high-level executives in the Fortune 500 industrial corporations in order to forecast the business environment of 1985. Harmon and Humble found in a survey of opinions in Britain for the Management Center Europe. He found that 98% of respondents agreed that social responsibility was relevant to business. in the awareness and acceptance of social responsibility in business. groups-owners. they opined that it will not become a reality (before Great Britain’s lease from China expires). Gill and Leinbach studied the attitudes concerning social responsibility by taking a sample of 83 companies in Hongkong. In this same poll. customers. partially related to economic conditions. in general. Holmes in a survey of 192 executives found that 92% of them felt that the firm’s level of social involvement was at least. sometimes competing. He conducted another survey of executive perceptions in England adopting mail questionnaires and interview method. concerned with their social attitudes. each of the following observations were: (1) “A Corporation’s duty is primarily to its owners and only to its owners” (2) “A Corporation’s duty is primarily to its owners and secondarily to employees. Abdul Farooq Khan made an investigation into the perceptions of corporate social responsibility among 41 Senior Executives of companies in Delhi and Ghaziabad district in U. The survey of Hammaker.
and (iii) achievement of production and sales targets. Here the respondents’ opinions on the statements denoted as the contemporary issues have been analyzed by using descriptive statistics shown below. (Krishnamacharyulu & Murthy 1986).1 percent of corporate entities have a mission and vision statement. 1989. healthy and safe working conditions. In other study (Raihan 2002) revealed that 71. Executives’ and employees’ rankings of different statements denoted as contemporary issues have been regarded as descriptive statistical . If the values of managers are limited primarily to certain acts. Table 1: Manager’s perceived idea about social responsibility F 30 22 16 12 04 % 60 44 32 24 08 Public (N = 50) F % Private (N = 50) Employment Generation 40 80 i) Undertaking employee welfare activities Undertaking employee welfare Contribution to national development ii) 38 76 ii) activities program Undertaking human resource Participation in community development iii) 36 72 iii) development programs activities Attaining self sufficiency in Participation in human resource iv) 32 64 iv) production development program Contribution to national 30 60 v) Improving the quality of life v) development programs vi) Meeting customer demand 28 56 Participation in community 25 50 vii) development activities Source: Arif. 7. & (iii) self-sufficiency in consumer goods etc. (ii) employee welfare. In the light of above stated facts. The statements studied were found sustainable development policy. policy for stakeholder dialogue. corporate governance policy. ideas and approaches to social responsibility of business have been explored through reviewed literature of the study. A. The idea of social responsibility requires a decision maker to consider his acts in terms of the whole social system and holds him responsible for the effects of his acts. human rights and international labor standard. From the study it was also revealed that the three important objectives of the public enterprises as mentioned by the Chief Executives were (i) contribution to national development. UGC and World Bank sponsored study. their perception as to what is social responsibility is very important.Manager’s Vision for Corporate Social Responsibility 640 (iv) Scarcities of natural resources and inflation will continue and technological developments may not solve these problems. 4 i) Enterprises in The table shows that managers of public enterprises have broader conventionalization regarding social responsibility as compared to their counter-parts in the private enterprises. therefore. p. groups or organizations. managers are the main linking pins between business and society. an attempt was made by A. Anwarul Azim . in Bangladesh. Socially responsive managers give substantial weight to social issues and provide social outputs for a wide variety of claimants. the responding chief executives of the private sector enterprises referred to (i) profit of the enterprise. As it happened in other parts of the world. “Social Responsibility of Business: A Study on Selected Corporate Chittagong”. All of the experiences and situations examined in the previous sections of the study have been accumulated to know the views of the stakeholders of the business enterprises. Arif to ascertain how managers in the sample enterprises perceive their social responsibilities and the following table represents their opinion in this regard. On the other-hand. Views of the Respondents in the Study Context The changing concepts. This is indicative of the fact that the very conception of social responsibility areas and activities will surely affect the social responsibility performance of the enterprises in the respective sector (Arif 1989). (ii) growth and prosperity. as their important objectives (Arif 1989). The study further revealed that 67 percent of the companies studied were found to have a formal policy to ensure clean. they tend to become partisan acting for that group. etc.
00 3. But in the least cases the same executive group agreed with the statements B.79 1.80 3.24 .11 2.67 3.33 1.043 . I.12 1.30 .24 1.00.44 4.00.44 3. A manager is not expert and well equipped to solve social problems or to take decision about social well being C.149 .016 .32 .22 2. Positive bottom line impacts convince mangers to be responsible socially E. Such analysis has drawn conclusion regarding views about contemporary issues of social responsibility in Bangladesh. .22 .15 1. The following table shows the statistical measures of the respondents ranking on the statements. Social responsibility and financial performance are positively core related D. F. Managers should concentrate on profit earning B.30 3.20 1. K.67 1.67 3. the employees of private sector enterprises agreed with the statements L. But the answers varied more as the standard deviation is higher than one. On the other side.532 .271 .157 .25 3.20 2.105 .00 3.30 . . C. So the executives of private sectors agreed with these statements such as A. G and J in average cases. So we can say that among the respondents the statements A. It is important to note that standard deviation of the opinion data of the executives’ responses for the statements A.00.11 Std. Highly competitive labor market is a pressure to be socially responsible J. C.22 .78 4.41 . G and K. F.89 3. highly competitive labor market is a pressure to be socially responsible (I) and supply chain responsibility is an issue of CSR (J).22 3. Government’s role is shrinking. So we can say that the views of employees go with the contemporary issues: stakeholders expected more disclosure of performance of social responsibility and stakeholders’ expectations from business organizations are changing. F. I in most of the cases and with the statements D. H and I are < 1.83 .004 . Table 2: Respondents’ (Private Sector) views on contemporary issues of CSR Position Executive Employee Executive Employee Executive Employee Executive Employee Executive Employee Executive Employee Executive Employee Executive Employee Executive Employee Executive Employee Executive Employee Executive Employee Mean 4. H. all the statements with which the respondents were found agreed in this case are not representative statement as in case of L and F standard deviation of the opinion is < 1. Today’s customers preferred to consume product or service of socially responsible firms.78 3.013 Statement A.78 1.97 1. Deviation.463 . today’s customers prefer to consume product or service of socially responsible firms (H). In case of average cases the statement J has a standard deviation < 1. I and J.97 1. E and J in average cases.67 3. H and I are the best views as contemporary issues of CSR.33 Sig. F.01 1. so responsibility comes to business H.95 1. Supply chain responsibility is an issue K. So we cannot consider those views as fully conclusive. stakeholders’ expectations from business organizations are changing (F).78 3.56 2. H.22 3.97 1.14 1.829 . Pressure from investors for CSR L. (2-tailed) . employees of the sector also gave opinion for other issues as well. But. A and B mostly and they agreed with the statements F.460 .50 2. In consideration with mean score. The contemporary issues raised by this group are: managers should concentrate on profit earning only (A). Stakeholders expected more disclosure of performance of social responsibility Source: Field Study The descriptive measures according to the rankings given on the statements show that executive of private sector agreed with the statements A.46 .22 4.641 Mohammed Abdullah Mamun and Zalal Uddin Ahmed measurements in this case. Stakeholders expectations from business organizations are changing G. Socially responsible firms fulfill objectives of government involvement into manufacturing and distribution F.17 1.
301 .95 . It is revealed that executives of private sector are more and more interested for profit earning.00 2.00 3.00 .83 3. so the average of the two opinions is same for all other statements. The significance level shows that for the statements D.46 . therefore.71 3. C and B.346 . C.43 Std. A manager is not expert and well equipped to solve social problems or to take decision about social well being C.528 . it can be said that since there are minimum differences among the two stakeholders’ opinion on contemporary issues of CSR of both the . H.71 2.207 .012 .14 3.13 Sig. so responsibility comes to business H.49 . Socially responsible firms fulfill objectives of government involvement into manufacturing and distribution F.98 . the opinion does not show same implication for both the respondents.41 . Stakeholders expectations from business organizations are changing G.57 4. Analyzing the opinions of the respondents of both the sectors.00 . Highly competitive labor market is a pressure to be socially responsible J. L and F the differences are significant.57 4.43 3. . Government’s role is shrinking.11 1.25 .79 1.76 1.183 .90 1. (2-tailed) .101 .50 3. The experience according to the respondents’ opinion on different statements can be taken as their views in this case. F and J while the employees of the sector agreed with the statements A.13 .29 3. I.566 .159 .43 4.17 4. 55 1. Table 3: Respondents’ (Public Sector) views on contemporary issues of CSR Position Executive Employee Executive Employee Executive Employee Executive Employee Executive Employee Executive Employee Executive Employee Executive Employee Executive Employee Executive Employee Executive Employee Executive Employee Mean 4. protecting stakeholders’ interest as their expectation changed. But the same in case of employee for the statement B it is higher while for other statements it is either less than or equal to one. Social responsibility and financial performance are positively core related D.76 1. Other statements data do not show any significant difference.00 3. In the same way.53 1. So we can say that the views are different among the respondents of the public sector as it is in case of private sector enterprises. The following table shows the result of public sector peoples’ views on the same issues.818 .71 2.35 1.57 3. As the mean score shows different opinion we can use the significance level figures to know the significance of the differences.00 . in case of statement J the mean scores of the opinions is significantly different. go for mean equality test using t-values.216 . Today’s customers preferred to consume product or service of socially responsible firms. Deviation. Supply chain responsibility is an issue K.49 .86 3. both the groups show higher mean score.71 3.71 2.00 3. Of those mean scores the standard deviations of all the statements in case of executives are less than one.40 . opinions of the public sector people have been asked on the contemporary issues of CSR. So it is clear that the views shared by both the respondents of the sector are more or less same but the preference varies by mean scores and corresponding standard deviation. E.Manager’s Vision for Corporate Social Responsibility 642 We.10 1. G.86 3. Positive bottom line impacts convince mangers to be responsible socially E.98 1.29 3. otherwise for all other mean scores the difference is not significant.98 1.43 3. B. It is found from the significance level that. highly competitive labor is big pressure and supply chain management issue to be addressed properly. Managers should concentrate on profit earning. Even in some of the contemporary issues of CSR.505 Statement A. Stakeholders expected more disclosure of performance of social responsibility Source: Field Study The mean scores show that the executives opined for the statements A. Pressure from investors for CSR L.
00 2. it can be said that the stakeholders of private sector business enterprises felt that managers should concentrate on profit earning only. it is also to be noted that. Government’s role is shrinking. Stakeholders expectations from business organizations are changing G.04 . .094 .95 4.62 3. Positive bottom line impacts convince mangers to be responsible socially E. This attempt can be depicted by the following table. Even they meant positive correlation between social responsibility and financial performance.67 3. Deviation.643 Mohammed Abdullah Mamun and Zalal Uddin Ahmed sectors.20 .42 3.429 .17 3.00 3.05 1. Today’s customers preferred to consume product or service of socially responsible firms.12 .09 Sig.71 3. H. The significance data of t-values show that mean scores of views of the stakeholders of both the sectors have no significant difference. Therefore.21 .62 3.30 1. Pressure from investors for CSR L. A manager is not expert and well equipped to solve social problems or to take decision about social well being.190 .99 1.21 3.07 3.00 3.21 3. as the views are different on some of the issues.50 3.29 3. I.350 .77 1. while they also thought that social responsibility and financial performance are positively correlated.83 1. Highly competitive labor market is a pressure to be socially responsible J.21 3.24 1.84 4.24 1. They also opined that as because government’s role is shrinking so the responsibility comes to the business. The same group opined that stakeholders’ expectations from business organizations are changing and this stakeholders expected more disclosure of social responsibility performance. Another viewpoint given by public sector stakeholder is that today’s customers preferred to consume product and service delivered by socially responsible firms.899 . Supply chain responsibility is an issue K. sometime they are a little bit confused about their role to play in this case.56 3.11 3.156 .655 .13 . so responsibility comes to business H.09 1. Socially responsible firms fulfill objectives of government involvement into manufacturing and distribution F. C.31 3. Managers should concentrator on profit earning B.12 1.17 3.80 1.06 3. C. C. Table 4: Respondents views (polled data) on contemporary issues of CSR Sector Private Public Private Public Private Public Private Public Private Public Private Public Private Public Private Public Private Public Private Public Private Public Private Public Mean 3.04 1.77 .07 .78 1. G and E in case of public sector enterprises. Social responsibility and financial performance are positively core related D.201 Statement A. 1.25 1.088 . the viewpoints of the sectors’ stakeholders’ responses have no differences as such. it is worthwhile to know the difference of mean scores of the responses on the issues of CSR. The stakeholders of the public sector gave these views once they felt that manager should concentrate on profit earning.92 1.04 1.11 1. F and L in private sector enterprises while the same with the statements A. the same responses can be polled into one stakeholder group to get the contrasting picture of the views of the two sectors. Stakeholders expected more disclosure of performance of social responsibility Source: Field Study It is revealed from the above table that the stakeholders’ views on contemporary issues are going with the statements A.71 3.350 .23 Std. So. According to the agreement of the stakeholders with those agreements.972 . the stakeholders of public sector thought that socially responsible firms fulfill objectives of government involvement into manufacturing and distribution. Further.889 . (2-tailed) . On the other side.
50 3. F and J are mostly preferred in this case.14 3.85 .10 3.88 1. G.38 Sig.56 3.00 4. Legal obligation F. It means the evidence comes from the study that the social responsibility performance varies from organization to organization in Bangladesh. The reasons of variation in performance are manifold. and their opinion with respect to contemporary issues.812 .00 3.00 3. Supply chain responsibility is an issue K. The following section of the study gives an analysis on those two important aspects of social responsibility of business.57 3.33 1.00 .83 .97 . These are: managers should concentrate on profit earning. Commitment of the leadership E.20 1.78 4.900 .56 2.89 4. but at the same time the study gives variation of the areas of CSR performed by both private and public sector enterprises.14 3.56 3. so responsibility comes to business H.58 1.71 Std.71 4.53 1.50 2.49 1.86 3.63 2. (2-tailed) . Managers should concentrate on profit earning B.00 3. social responsibility and financial performance are positively correlated.149 .07 . Pressure from investors for CSR L.41 .56 Std. Ownership pattern D. can also be discussed at this stage of the study. Deviation .69 1.00 3.Manager’s Vision for Corporate Social Responsibility 644 The experience with other stakeholder group.786 .53 1.301 .18 . It is revealed from the stakeholders’ viewpoint that there is no variation of the opinions on contemporary issues raised in the study.88 . I.60 1. stakeholders expectations from business organizations are changing and supply chain responsibility is an issue.978 .25 . Nature of business B.70 3. Government’s role is shrinking. Deviation . Socially responsible firms fulfill objectives of government involvement into manufacturing and distribution F. Social responsibility and financial performance are positively core related D. Stakeholders expectations from business organizations are changing G.85 1. Table 6: Executive perception on variations of social responsibility of business Sector Private Public Private Public Private Public Private Public Private Public Private Public Private Public Private Public Mean 4.01 Statement A. C.87 .19 1.50 3.819 Factor A. A manager is not expert and well equipped to solve social problems or to take decision about social well being. The following table shows the descriptive statistics of their opinion on the same set of statements as contemporary issues of CSR.60 4. That is the civil society viewed the followings as contemporary issues of CSR.13 . Highly competitive labor market is a pressure to be socially responsible J. Stakeholders pressure H. Today’s customers preferred to consume product or service of socially responsible firms. Table 5: Civil Society views on contemporary issues of CSR Mean 4. government’s role is shrinking so social responsibility comes to business organization. C. Size of the operation C. which is civil society in this study.44 3.99 1.03 . Even the above findings show almost the same opinion about the contemporary issues given by different stakeholders of business.20 4.70 1. National culture G. Positive bottom line impacts convince mangers to be responsible socially E. Attitude of the manager Source: Field Study .22 3.56 2.07 . Stakeholders expected more disclosure of performance of social responsibility Source: Field Study The mean scores and corresponding standard deviation of the opinion given against the statements were denoted as contemporary issues indicating that statements A. The study has tried to find out the reasons of variation and also the problems of poor discharging of socials responsibility of business.602 .
and attitude and so on. B and F as responsible for variations of social responsibility performance in the enterprises.56 2.06 . funding approval from corporate head office).11 4. Deviation. Therefore. then the relevant question is on the reasons of poor performance of CSR.11 1. Ownership pattern D.666 0. On the other side.43 3.89 4. The mean scores of the executives’ perceptions of both the sectors are not significantly different for any of the factors mentioned in the study.60 4.57 3. Vision and value statement B. Nature of business B.929 0.70 4. the variations of social responsibility performance among the business enterprises are because of nature.56 3.12 1. It is evident that the factors responsible are same by all the stakeholders’ opinion.427 0. G.e.67 Factor A. commitment of the leadership and national culture are the factors responsible for variation of social responsibility of business.98 1.22 1. These factors are nature of business.32 . Size of the operation C. Can not relate benefit F.324 0.084 0. Legal obligation F.54 0.78 Std.33 3.32 .. In compliance of mission.00 2. Attitude of the manager Source: Field Study The mean scores of the opinion given by civil society show that nature of business.645 Mohammed Abdullah Mamun and Zalal Uddin Ahmed Private sector executives identified factors A. The following table gives the opinion of the executives’ views on this aspect of CSR.56 2. This is shown by the following table.11 3.13 1. So it is clear that social responsibility performance varies from enterprise to enterprise because of almost all the factors identified in the study.673 0.45 0. (2-tailed) 0. The study has tried to know the reasons from the statements given by the executives of the both the enterprises.10 3. Stakeholders pressure H. commitment of the leadership. It means significance levels of the t-values are within the acceptance levels on a 5% significance level. Funding limitation from government and/or higher authority Source: Field Study .485 0.98 1.29 .58 1. leadership commitment and national culture. As the size of the operation is too small D. Once the factors responsible for variations of performance are clear from the study. which are: nature.29 Std. Commitment of the leadership E. Deviation 1.00 3.13 1.49 Sig. Table 8: Executive’s opinion on the poor performance of CSR Sector Private Public Private Public Private Public Private Public Private Public Private Public Private Public Mean 3.89 3. as it is found that there is no significant difference of the mean equality test of the two sectors. 1. Civil society. etc.53 . Lack of proper attitude of the management E. public sector executives identified so many factors as the reasons of variations.404 0. The study has also tried to get an idea on the same set of factors responsible for variations given by another stakeholder i.00 2. size of the business.22 1.713 0. Table 7: Civil Society views on variation of social responsibility of business Mean 4.291 Statement A. ownership pattern.57 3.50 3.677 0.93 . They told about nature and size of business.29 3.71 1. D. leadership.54 1. size. National culture G. commitment of the leadership and national culture.468 0. The study reveals the factors responsible for variations in CSR performances of Bangladeshi business enterprises both in public and private sectors. ownership.116 0. Governing rules as limiting factor (For example. culture.33 1. Due to resource constraints C.931 0.00 3.
The following graph gives the result of this opinion in percentage of different reasons mentioned. violation of human rights (Factor f) and doing illegal activities (Factor k). It is revealed by the corresponding mean scores. Among the responses. The differences of mean scores between the two different sectors are not significant because the corresponding t-values are found insignificant at 5% significance level. Such a shift is direct response to number of pressures created by different stakeholders of the business. do unethical practices (Factor d) and pollute environment (Factor e). The civil society people mentioned that the enterprises do not perform employee welfare activities (Factor a). Percentage . It is important to note that according to civil society opinion the enterprises in Bangladesh are not socially responsible because they are not doing their activities according to prevailing rule of business. government’s new role to play. e. mean scores against the statements show that. even though the other factors of poor performances are also mentioned as reasons of poor CSR performance of the enterprises. At the same time business enterprises have to reconsider the way of sourcing capital. civil society makes it clear from the reasons mentioned why the enterprises cannot be socially responsible. In the same context opinion given by another stakeholder. pressures from different interested groups. At the same time they mentioned other reasons how the enterprises are not socially responsible. So.Manager’s Vision for Corporate Social Responsibility 646 The descriptive statistics i. 9. compliance with the legal rules is common everywhere. etc. rules of the government imposed and finally lack of proper attitude of the management are the limiting factors of poor performance of CSR. Figure 2: Factors responsible for poor CSR performance Reasons of Poor CSR Performance 100% 80% 60% 40% 20% 0% a b c d e f g h I j k l Factor The above graph shows that factors a. in both the sector’s enterprises’ funding limitation from the government. the corporations have started to get themselves engage more and more into socially committed activities. these are the most important factors how the enterprises are not socially responsible. and e are the indicating reasons why the enterprises cannot be responsible. Significant improvement of socially responsible behavior by corporate world is being experienced due to the fact that a paradigm shift has occurred in the business arena. It can be inferred that the opinion given by both the sectors’ executives are same for their respective sector. This opinion is clear from the percentage shown for the two related factors ‘d’ and ‘k’ which are: doing unethical practices and doing illegal practices. shareholder’s changing expectations. These reasons are: lack of workplace safety program (Factor b). d. Conclusion From the findings of the study. we can conclude that in Bangladesh. finding right alternative of investment for solving the social problems.
Julie. “Introduction to Corporate Social Responsibility”. Gill & Leinbach. XXV. while all the stakeholders’ expectations are changing.Schouten and Joop Remme. p.1983. The University Press Limited.org/resourcecenter/topic. 2002. “Research on Corporate Social responsibility” Productivity. The reports presented by different authors and researchers reveal same type of responses in this regard. 2006. 2002. p. Bangladesh’s Development Agenda and Vision 2020. Raynal.S. 2. etc. civil society that improper employee welfare activities. XXV. pp. XXVI. All the studies reviewed here show more or less same opinion regarding socially responsible behavior of the businesses. “ Making sense of corporate social responsibility in international business: experiences from Shell” Business Ethics: A European Review Vol. 2001. 64. William C.J. Peter F. Vol. Anwarul Azim.int/comn/csr/index-en. 2003. They also thought that socially responsible firms fulfill objectives of government’s involvement into business. EU http://europa. 15. and responsibility comes on business organization since government’s role is shrinking. In this context of contemporary views of social responsibility of business.int/civil-soc/role-corporate. CPD Task Force. D. TRADE. Such poor performance can be depicted by the opinion of another stakeholder i. Developing a Policy Agenda for Bangladesh. EU Policy Paper http://trade-info. executives of private sector enterprises preferred to concentrate more on profit earning. 2003. Again. 1989. found positive correlation between social responsibility and financial performance. 42-50. In the above contemporary viewpoints given by different stakeholders. pp. Vol. References      Arif. Vol. 3. http://www. 4. 21. Pascal. “Corporate Social responsibility in Hong Kong”. C. meaningful contribution to solve social problems. and Murthy. 2. while they emphasized almost equal weight on competitive labor force as a pressure on business organization to be socially responsible. January. 54-62.pdf       . doing illegal practices and unethical involvement are the reflections of not being socially responsible by the business enterprises of Bangladesh. Dakshina.eu. protection of the society from different harmful actions. Winter. Vol. 130. pp. 107-109.htm Krishnamacharyulu. “The role of Corporate Social Responsibility”. e. 4.4-5.eu. No. No. “Social Responsibility of Business: A Study on Selected Corporate Enterprises in Chittagong”. Rafiqul M. In the same views. employees of private sector enterprises expressed same opinion about the positive correlation between social responsibility and financial performance.G. government rules imposition of and lack of proper attitude of the management on CSR. leadership commitment and national culture. 110.bsr. No. Interestingly the reasons are nature of the business. 1984. research study sponsored by the UGC and World Bank. vision of social responsibility also gets a new shape. 1983. 149. “Corporate Social Responsibility in the Reagan Era and Beyond” California Management Review.ceo. Islam. the reasons of poor performance mentioned by the executives of both the sectors are funding limitation. “The New Meaning of Corporate Social Responsibility” California Management Review. XXVII. The University Press Limited. Spring. BSR. p. pp. Drucker. 1 Frederick. “Corporate Social Responsibility”. pp. it was also found from the study that all the stakeholders identified the same reasons of variation of performance in CSR by the enterprises. California Management Review. Lamy. customers prefer consuming product or service from a business which is socially responsible.647 Mohammed Abdullah Mamun and Zalal Uddin Ahmed With the pressure emerging from the stakeholders. “Economic Globalization and The International Trade: Prospects of Bangladesh”. All the issues raised here are related to community development. No. Esther M. 1986. Civil Society’s Task Force Reports 2001. pp.
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