Corporate Social Responsibility: Historical Perspective, Implications, Role, and Prospects and Governance in Bangladesh

Businesses, specifically larger corporations, play a major role in what occurs in society therefore, they are responsible to their stakeholders not only to pursue economic goals but the greater social good as well. Corporate social responsibility (CSR) means that a corporation should act in a way that enhances society and its inhabitants and be held accountable for any of its actions that affect people, their communities, and their environment. (Lawrence, 2010). Social responsibility is becoming the norm so much so that some businesses have incorporated it into their business model. There are three components of the bottom line of social

The purpose of this essay is to research the notion of CSR and uncover its true framework and outline what social responsibility truly means to corporate organisations, and whether it should be seriously considered to be a legitimate addition to the corporate framework of an organisation.

Corporate Social Responsibility (CSR) is something that affects all companies and should be an active factor in the company’s decision making. It is something all corporations need to care about. CSR is when business’ or corporations take part in an initiative or campaign for a cause that will benefit society and/or in some way make the world a better place (Taylor, 2015). Initially, Corporate Social Responsibility started to take shape around the 1950’s, but some say that it dates all the way back to the 1800s, the idea of CSR was seen (Carroll, 2007). One may think that because it is dated so long ago, it doesn’t have an important impact today nevertheless, it is proven that Corporate Social Responsibility is a pathway for entities to self benefit as they are in the process of benefitting society.

Corporate social responsibility (CSR) is a term used to describe a company’s efforts to improve society in a certain way. These efforts range from donating money to an organization such as a nonprofit organization, to implementing environmentally friendly policies in the workplace. This idea is not required for companies; instead it is something that companies do to improve their communities. The way companies practice CSR is different from company to company, and some companies may not even practice it at all.

CORPORATE SOCIAL RESPONSIBILITY (CSR) is a term describing a company’s obligation to be accountable to all of its stakeholder in all its operation and activities. Socially responsible companies consider the full scope of their impact on communities and the environment when making decisions, balancing the needs of stakeholder with their need to make profit.

Corporate social responsibility (CSR) could be essentially put as how organizations deal with their organizations, and the procedures embraced to viably deliver a general positive and enduring change inside the general public or the business environment where they work. Each business works in a regular social environment, and each business society contains the shareholders, clients, money related expert (Carroll and Buchholtz 2003, p. 36). Government, non-government associations (NGOS), neighborhood groups, unions, representatives, work environment, and environment.

Corporate social responsibility (CSR) can be defined as the "economic, legal, ethical, and discretionary expectations that society has of organizations at a given point in time" (Archie

The notion of Corporate Social Responsibility is a phenomenon globally known for many years. In spite of the fact that CSR has been neglected for quite a long time, nowadays several authors deal with this issue, as revealed by the development of theories in recent years concerning the topic. In spite of the fact that there has been a huge growth of literature it is still impossible to simply define CSR. Many definitions trying to capture the concept of CSR exist, but their content varies (Matten & Moon, 2008).

Corporate Social Responsibility (CSR) is a concept that means, when an enterprise generates profits and takes legal obligations to its shareholders and creditors, it should also be socially responsible for other stakeholders, such as employees, customers, community and the environment in which it operates. CSR encourages enterprises not only to pay attention to profits accumulation while operating, but also to make a contribution to consumers, the environment in which it operates as well as the whole of society.

There is a multitude of definitions of Corporate Social Responsibility (CSR). According to Business for Social Responsibility, ‘CSR is defined as achieving commercial success in ways that honor values and respect people, communities and the natural environment.’ Alternatively, CSR has been described as ‘an action by a firm, which the firm chooses to take, that substantially affects an identifiable social stakeholder’s welfare.’ Osie-Kwame, S (July

There is no dispute that CSR is accepted as a potential means to help today companies with customers concerning ethical and environmental issues to get competitive advantage, but there is not any prove that always ethical values leads to financial profits. Different

Corporate social responsibility (CSR) is a concept which is also known as corporate citizenship, corporate conscience or in a simple way a responsible business. It is an integrated concept of self-regulatory business model for any organisation. Corporate Social Responsibility has been in practice for more than fifty years now, which has been adopted not only by domestic companies but also by transnational company with voluntary CSR initiatives (Chernev and Blair, 2015). It includes Corporate Social Responsibility for code of conduct, organisational health and environment, companies reporting on social, financial and environmental aspects, partnership with agencies, NGO’s and UN

Corporate Social Responsibility (CSR) is a concept whereby organizations consider the wellbeing of the public by taking responsibility for the effect of their actions on all stakeholders; customers, employees, shareholders, communities and the environment in every aspect of their operations. This responsibility is seen to extend beyond the statutory obligation to comply with legislation and sees organizations willingly undertaking additional steps to improve the quality of life for employees and their families as well as for the local community and society at large.

Corporate social responsibility (CSR) refers to the social and environmental responsibility policies and practices developed by an organization to increase its positive influence and reduce its negative activity towards society (Schwartz 2010). Organizations must take responsibility for their actions and all the members of the organization must comprehensively review and consider all their tasked achievements and contributions. A healthy balance between economic progress, social responsibility, and environmental protection can lead to a competitive advantage and solidify an organization's place as a corporate citizen (Dickinson, et.al, 2008).

Corporate social responsibility (CSR) also known as corporate conscience and corporate citizenship according to Investopedia (2014). It is becoming a hugely applied concept and is a central area in business decision making (Cochran, 2007).