INDEPENDENT UNIVERSITY OF BANGLADESH

MBA: 515

Legal &Ethical Issue

In Class assignment

Impact of Corporates Social Responsibility (CSR) Practices for the success

Corporation in Bangladesh.

SUBMITTED BY:

Md. Mehedi Hasan

ID: 1931462

SUBMITTED TO:

Dr.Md.Anwar Hossain Bhuiyan

DATE OF SUBMISSION : 27 November 2020

Corporate social responsibility: Corporate social responsibility refers to social and ethical
responsibility that corporation should perform in their business activities beyond legal
requirements. Company is accountable – to itself its stakeholder and the public.

Impacts of Corporate social responsibility {CSR} Practices for the success of corporation in
Bangladesh

Economic Responsibility: Business goal is not just making profit they have to care about the
environment and stakeholders and the people these are associated with business. Economic
responsibilities ensuring economic benefit for both regions which the purchase came to the
region which is marketed, fair distribution, select a fair price so that people can afford.
Economic responsibility maximizes company values.

In Bangladesh very few company is practice {CSR}in Bangladesh. Square Bangladesh limited,
their motive is ‘’being good by doing well ‘’ they develop their CSR to consider the interest of
their external and internal stake holder.

Legal Responsibility: Legal responsibility are those that are define by the authorities and
companies are required to abide by them in a strict and disciplined manner . These laws and
regulation are ground on which businesses must operate . For example , you cannot sell pork
meet in Bangladesh and other Islamic state because of the religion issue that is restricted by the
government .

In Bangladesh company like Pran not only success in here but also in abroad because they set a
different strategy for different countries under the legal rules and regulation set up by the
government . Before doing business you need to abide by the country rules and regulation.

Ethical responsibility : Ethical responsibility refer to the beleif of good behaviours , in business
such as overtime remuneration for long hour and unofficial punch out time and building
program for fair trade also financially support NGOS AND human rights organization like the
red cross .

Ethical practice in business that helps the efficiency of the organization employee get motivated
by getting fair treatment, they feel like they belong to a family ,they feel proud and spread
positive word of mouth about the organization like ‘’ we work in a corporation where everybody
get equal opportunity.Unilever was named the world’s most ethical company in 2009.  .
Unilever’s website explains, "According to the judges, Unilever earned a coveted place on the
list by going beyond legal minimums, introducing innovative ideas to benefit the public and
forcing its competitors to follow suit by raising the bar on what it takes to be an ethical
leader." Unilever has been a true standout in the industry proving good practices result in a
good image.  

In Bangladesh ethical practice in business are very rare very few company do ethical practice ,
rudeness, ignorance these are the behavior exist in work place , it tough for new comer to settle
the job quickly , people who work in garments sector they don’t get enough money they
deserve. Even organization failed to give nice and clean working environment. Few business
leader realize their firm can not succeed without the trust of customer and good will of the
society. A Violation of ethics makes trust and good will difficult to maintain, so need to practice
ethics in business.

Philanthropic responsibility : philanthropic responsibility is over ethical consideration, they

may include charity run or setting day care center by contributing community and improve
quality of life .it is good for the business if business give away to the charities . but they are not
seen as unethical corporations if they aren’t engaged in those kind of activities.
It is essential to carry out in a manner consistent with the philanthropic and charitable
expectations of society
 It is vital that managers and employees participate in charitable and benevolent activities
within their local communities.
It is significant to voluntarily lend a hand those projects that augment a community’s quality
of life.
 Philanthropic activities give the positive and unique image in the mind of the customer and
society .people give positive response when someone asking about the company .that helps to
increase the customer volume and sales .

In Bangladesh BRAC has enormous impact on philanthropic activities , From the beginning
each and every year they establish school in rural area for poor people by giving them free
education , provide scholarship to poor student , giving loan to poor family to establish business ,
and funding different charity , and campaign blood donation in different school college and
university . That’s why they are one of the most well-known and trust worthy organization in
Bangladesh.

Moreover corporate social responsibility give the unique image to a company , company become
brand in the society to mind of the consumer , Bangladesh is far behind from develop countries
in term of( CSR ) . They need to practice more to gain customer trust and welfare for the
society.