Csr Guidelines And Bangladesh Bank Initiatives Essay

Since 1998, Bank of America has become one of the most successful financial institutions in the industry. With the mission to “make financial lives better, through the power of every connection”, Bank of America has operated its business align with its purpose. While assisting its clients understand their money, the company also put on a lot of effort on helping the communities by executing Corporate Social Responsibility (CSR). It is undeniable that the company has successfully addressed many critical problems in the environmental, social and economics arenas, as it continually receive awards and recognitions for its CSR efforts.

“Studies analysing the bottom-line value of CSR have demonstrated that it adds substantial economic and social returns to businesses when it is carefully thought out, executed, and periodically evaluated as part of a holistic institutional policy” (Deegan, 2002; Hummels and Timme, 2004). The bank should also invest in social responsible activities to differentiate it, which can help in emphasizing Jyske’s values and differences and encouraging ethical behaviour amongst its stakeholders. These activities might seem subtle, but they have proven to be forceful signals that improve the brand image and communicate goodwill to customers. They also influence perceptions of the service quality and affects loyalty

CSR is all about businesses understanding the effects that they have on the community/wider world. Businesses will use this impact in a positive way to

Every organized company worldwide should have among its structure, one planning and coordination division in which social and business goals are integrated. Corporate social responsibility (CSR) programs are necessary for commercial business as an element of risk management and represent an outstanding mechanism for the stakeholders to identify weaknesses when their own actions or others conduct in its operating environment generate social risk. (Kytle and Ruggie 2005).

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 is described as being a company’s ethical, economic, environmental, social and legal attitude towards its stakeholders in order to establish long-term success (Crane at el, 2008). These issues have come to have an important role in the running of a business in recent years. CSR was developed over a number of years and has been researched by professional economists. There are many arguments in favour of and against the CSR strategy. A company that adopts and operates the CSR can gain control over a variety of sectors, including shareholders and stakeholders. In brief, businesses can generate maximum profit and reduce potential risk by adopting the CSR strategy

1. It is hard for companies to communicate their efforts in CSR to shareholders and investors. Although companies have progressed from only 20% of public companies publishing CSR reports to 72% from 2011 to 2013, there are still no universal standards established for reporting CSR information. Therefore, even the best CSR efforts can lose their value simply because the efforts are not communicated to users of financial statements. This is also in part due to CSR efforts being ill-defined. While some CSR ideas are universal many of the aspects of CSR are industry specific and hard to translate into meaningful disclosures for interested parties.

CSR manifests itself in many different ways. Businesses need to be aware of their commitments to all their stakeholders – customers, their community, suppliers, employees and, more grandly, the environment in which they

First, what is CSR? CSR is corporate social responsibility, which “refers to business practices involving initiatives that benefit society. A business 's CSR can encompass a wide variety of tactics, from giving away a portion of a company 's proceeds to charity, to implementing "greener" business operations” (Sammi Caramela). “Corporate social responsibility is a corporation’s initiative to assess and take responsibility for the company’s effects on environmental and social wellbeing. The term generally applies to efforts that go beyond what may be required by regulators or environmental protection groups” (Corporate Social Responsibility).

Corporate Social Responsibility (CSR) is a form of self regulation integrated into the business model of organizations. Organizations have responsibility for the impact of their activities on the society, environment, employees and members of the public sphere which cannot be denied. The progress of the concept of CSR is elevating to the highest pedestal of importance in all aspects of production and business both private and public.CSR is a much known concept in present world and many corporate giants are conversant with it as it provides better synergy returns to the business. Moreover CSR is becoming a very important activity to organizations nationally as well as internationally. The increase in globalization has given birth to large corporations which serve as global providers and have recognised the importance and benefits of providing CSR programs hence CSR activities are now being undertaken throughout the globe. The rationale for CSR is stated in number of ways its core is about building sustainable businesses with healthy communities, markets and economies which again necessitates carrying out CSR activities. The government has declared it compulsory for organizations to be socially responsible (chakraborty 2010).Non government organizations (NGO) are

A broad overview at corporate social responsibility (CSR) looks to corporations to make a change in the society or the environment. This is achieved through business practices such as giving to charities, whether time or money, through corporate governance, or in environmental initiatives.

Finally, the article will provide guidance and recommendations to effectively communicate, develop, and improve the CSR strategy. The recommendations will ultimately improve stakeholder relations and productivity.

As a group, the community must analyze and criticize the behavior of its member in order to arrive at a consensus on the tolerance of business practices and behaviors. However, the community’s inclinations may provide an obstacle to the entry and continuation of business activity within the community. Governments, as representative of the community, will attempt to influence and regulate the behavior of companies to reflect the expectations of the community in which they operate, as is the case of government mandated. “The main idea behind CSR is

The purpose of this report is to highlight the implementation of corporate social responsibility (CSR) in the company .CSR is the continuing commitment by business to contribute to economic development while improving the quality of life of the worker force and their families as well as of the community and society at the large .According to Nielsen’s Global Survey on corporate social responsibility(2014),shows that 55% of global online customers in 60 countries said that they can spend

Moreover, while proposing the Corporate Social Responsibility Rules under Section 135 of the Companies Act, 2013, the Chairman of the CSR Committee mentioned the Guiding Principle as follows: "CSR is the process by which an organization thinks about and evolves its relationships with stakeholders for the common good, and demonstrates its commitment in this regard by adoption of appropriate business processes and strategies. Thus CSR is not charity or mere donations. CSR is a way of conducting business, by which corporate entities visibly contribute to the