Corporate Social Responsibility: Global Definition of Csr, Impact of Csr on Smes, Best Practices, and Strategies Could Be Implemented in Bangladesh.

10265 WordsMay 28, 200842 Pages
Introduction Business and society are interdependent. The wellbeing of one depends on the wellbeing on the other. Companies engaged in CSR are reporting benefits to their reputation and their bottom line. We cannot build the case for CSR solely because of its economic benefits - an ethical case must be made for companies taking responsibility for the impact of their relations with society and the environment, otherwise the foundations of CSR will be far too narrow. However, Corporate Social Responsibility (CSR) is becoming an increasingly significant category by which a company 's reputation is evaluated. A variety of social and environmental issues across a broad spectrum of industries have recently been covered in the media - all of…show more content…
While business compliance with laws and regulations on social, environmental and economic objectives set the official level of CSR performance, CSR is often understood as involving the private sector commitments and activities that extend beyond this foundation of compliance with laws. From a progressive business perspective, CSR usually involves focusing on new opportunities as a way to respond to interrelated economic, societal and environmental demands in the marketplace. Many firms believe that this focus provides a clear competitive advantage and stimulates corporate innovation. CSR is generally seen as the business contribution to sustainable development, which has been defined as "development that meets the needs of the present without compromising the ability of future generations to meet their own needs", and is generally understood as focusing on how to achieve the integration of economic, environmental, and social imperatives. CSR also overlaps and often is synonymous with many features of other related concepts such as corporate sustainability, corporate accountability, corporate responsibility, corporate citizenship, corporate stewardship, etc. CSR commitments and activities typically address aspects of a firm 's behavior (including its policies and practices) with respect to such key elements as; health and safety, environmental protection, human rights, human resource

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