Corporate Social Responsibility In Bangladesh

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1.1 CORPORATE SOCIAL RESPONSIBILITY (CSR)

CSR is defined in Investopedia (2014) as non financial benefit action exercise by a company who wishes to take accountability on the natural resources and public wellbeing. Baker (2004) defined CSR as how companies run their business that give positive impact to the public. Stakeholders’ interest is to know whether certain companies give positive impact to the surroundings and public.

By regularly contribute to the economic growth, companies can be considered as practising CSR where by doing so the quality of life of the human capital and public could be improved (Holme & Watts, 1999). In United States, CSR is defined as a benevolent model where companies make profits and contribute some of their returns to charity.

2. LITERATURE REVIEW
2.1 AFTER MATH OF RANA PLAZA COLLAPSED

Bangladesh All Party Parliamentary Group (2013) believes that Bangladeshi needs to be supported by reforming the Ready Made Garment (RMG) sector. The UK as a main export market and support contributor is responsible in providing the necessary help and knowledge transfer.

2.2 CSR IN BANGLADESH

According to Mondol (2009), Bangladesh Companies have practiced CSR for a long period of time. Their charitable practices include contributions to diverse charitable organizations, unfortunate people and religious institutions. However, there are no exact guidelines concerning the company’s involvement in charity for the community in terms of charity’s expense. Moreover, many Small Medium Enterprises (SMEs) has poor management system to deal with public and ecological problems. Bangladesh’s companies only focus on the profit maximization rather than contribute to society and the Mother Nature.

Unfortunately, l...

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...laza collapse showed that the government as well as the local or global corporations are not serious in improving safety environment for the employees. To summarize as stated before, Bangladeshi workers, other people, Government of Bangladesh, Mass Media, Welfare Organization, other neighbor Countries, Rana Plaza’s Employees Union, Rana Plaza Company, building engineers and inspectors, mother nature and heavy machinery, Rana plaza’s owner (Sohel Rana), garment factory owners and last but not least western retail giants.

It is the time for a global complaint against “income before public” system. As heartless people only saw low wages Bangladesh workers as sources of profit by taking advantage of them. It also can be concluded that it is possible that the same Rana Plaza’s collapsed incident will happens in the future if we stay and do not do anything.

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