CORPORATE SOCIAL RESPONSIBILITY In Context of Unilever, Bangladesh and Global Scenario

EMBA program Department of International Business Faculty of Business Studies University of Dhaka

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CORPORATE SOCIAL RESPONSIBILITY in Context of Unilever, Bangladesh and Global Scenario

Submitted To: Chowdhury Saima Ferdous Lecturer, Department of International Business, Faculty of Business Studies, University of Dhaka.

Submitted By: 1. Md. Showkat Kamal, ID# 80801033 2. Sabrina Nahid Hassan, ID# 80801012 3. Mustafa Zaved Bin Shaheed, ID# 80801032 4.Tahera Khatoon, ID# 80801007

16th August, 2008.

EMBA program Department of International Business Faculty of Business Studies University of Dhaka

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Letter of Transmittal
16th August, 2008.

Chowdhury Saima Ferdous, Lecturer, Department of International Business, Faculty of Business Studies, University of Dhaka.

Subject: Submission of term paper on Corporate Social Responsibility in context of Unilever, Bangladesh and Global Scenario. Dear Madam, Please see enclosed herewith our paper Corporate Social Responsibility in context of Unilever, Bangladesh and Global Scenario. This is a great pleasure for us to submit this paper that you have permitted us. This paper was worthwhile experience for us. We have truly enjoyed our time attachment with the preparation of this report. We have tried to make the report comprehensive one with in the time. Any short of suggestion regarding the paper would be greatly acknowledge and we would feel gratified if my paper serves its purposes. Thanking you. Sincerely yours

1. Md. Showkat Kamal, ID# 80801033 2. Sabrina Nahid Hassan, ID# 80801012 3. Mustafa Zaved Bin Shaheed, ID# 80801032 4.Tahera Khatoon, ID# 80801007

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Acknowledgement
We acknowledge our profound indebtedness and expresses our sincere gratitude to our course Teacher, Ms. Chowdhury Saima Ferdous, Lecturer, Department of International Business, Faculty of Business Studies, University of Dhaka, for constant guidance, supervision and suggestions at all stages in conduction of this Term Paper. We also express our thanks to the Unilever, Bangladesh who gave us an idea about collection of information.

We finally wishes to express our heartiest thanks to our respected teachers of Department of International Business, Faculty of Business Studies, University of Dhaka, and to all those who directly or indirectly helped us in this work.

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Table of Contents

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Executive Summary
These report highlights, the concept of evaluation of corporate social responsibility based on the performance of Unilever, Bangladesh and global scenario. This report will help other companies to compare the intended to obtain greater efficiency and how to analyze the performance of any company which intends to start the corporate social responsibility. The performance of Unilever, Bangladesh shows that CSR was totally justified and rational as the company has a higher profit and increasing its profit day by day. Company is committed to provide better service to them.

In response to the numerous social challenges facing businesses. The model of social responsiveness includes the policy stage, the learning stage, and the organizational commitment stage. Global citizenship begins with perspective, respect, and commitment to work within the framework of a nation's values and ethics. Corporate social responsibility means that a corporation should be held accountable for any of its actions that affect people, their communities, and their environment. Businesses must recognize their vast power and wield it to better society.

Corporate social responsibility is a highly debatable notion. Some argue that its benefits include discouraging government regulation and promoting long-term profitability for the firm.

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Chapter One
1. INTRODUCTION
1.1 Introduction
Social Responsibility is a concept well known in the corporate world and beyond that. Businesses all over the world have practiced only profit-making actions at past but not for long as the enterprises started to develop complexities and wideness in size and actions so was their reach getting bigger and bigger. As every person has his own social responsibilities towards the society so does the business firms. The idea that business has social obligations above and beyond making a profit is corporate social responsibility. However, it is regretful that though internationally it is being practiced widely, Bangladesh is still lagging behind. The difference between the world standard and the practice in Bangladesh shows the lacking here and the scope for development

1.2 Objectives of the Study

Corporate social responsibility challenges businesses to be accountable for the consequences of their actions affecting the firm's stakeholders while they pursue traditional economic goals. The general public expects businesses to be socially responsible, and many companies have responded by making social goals a part of their overall business operations. Guidelines for acting in socially responsible ways are not always clear, thus producing controversy about what constitutes such behavior, how extensive it should be, and what it costs to be socially responsible. Socially responsive corporations consider and carefully seek to foster mutually beneficial relationships with their stakeholders.

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1.3 Methodology
In preparing the report, we mainly used the knowledge that we gathered in the concerned course. To prepare this report we have taken secondary data published by Security Exchange & Services and the published prospectus by Unilever that helps us to evaluate the share price of Unilever. We have taken help from the company published annual data. We also contacted with some of the company officials to learn some data and procedure of how they actually measure the price of share. We also take help from books to justify whether the price of share is accurate.

1.4 Company Overview

At a glance
1.4.1 Unilever today
Their brands are trusted everywhere and, by listening to the people who buy them, They have grown into one of the world's most successful consumer goods companies. In fact, 150 million times a day, someone somewhere chooses a Unilever product. Look in your kitchen, or on the bathroom shelf, and you're bound to see one of their wellknown brands. They create, market and distribute the products that people choose to feed their families and keep themselves and their homes clean and fresh. Over the the last four decades, Unilever Bangladesh has been constantly bringing new and world-class products for the Bangladeshi people to remove the daily drudgery of life. Over 90% of the countrys households use one or more of our products. Unilever is one of the world's leading suppliers of fast-moving consumer goods. Here are some recent highlights from their three global divisions - Foods, home care and personal care.

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Foods

The acquisition of Bestfoods in 2000 brought us leadership in the culinary category. They are in the world's leading ice cream producer. They are the largest seller of packet tea in the world through their Lipton and Brooke Bond brands.

Home & personal care

They lead the home care market in much of the world, which includes cleansing and hygiene products. Many of their home care products are market leaders including Brilhante, Cif, Comfort, Domestos, Omo, Skip and Snuggle. Within the personal care market, they are global leaders in products for skin cleansing, deodorants and antiperspirants. Their global core brands in the personal care market are Axe, Dove, Lux, Pond's, Rexona and Sunsilk.

1.4.2 Mission
Unilever's mission is to add vitality to life. We meet everyday needs for nutrition, hygiene, and personal care with brands that help people feel good, look good, and get more out of life.

1.4.3 Product categories

Household Care, Fabric Cleaning, Skin Cleansing, Skin Care, Oral Care, Hair Care, Personal Grooming, Tea based Beverages.

1.4.4 Their brands in Bangaladesh

Wheel, Lux, Lifebuoy, Fair & Lovely, Pond's, Close Up, Sunsilk, Taaza, Pepsodent, Clear, Vim, Surf Excel, Rexona, Dove, Vaseline & Lakme.

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Chapter Two
2. Literature Review
2.1 Corporate Social Responsibility-An Evaluation
Corporate initiative to assess and take responsibility for the company's effects on the environment and impact on social welfare. The term generally applies to company efforts that go beyond what may be required by regulators or environmental protection groups. Corporate social responsibility may also be referred to as "corporate citizenship" and can involve incurring short-term costs that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change. Business firms conduct activities to produce goods and services to generate profits. These activities contribute a lot to affect our society. Social responsibility is the awareness that business activities have an impact on society and the consideration of that impact by firms in decision-making. Besides emphasizing profits, firms concerned with social responsibility voluntarily engage in activities that benefit society. Specifically, social responsibility is the set of obligations an organization has to protect and enhance the social context within its functions. Corporate social responsibility may be defined as the notion that corporations have an obligation to constituent groups in society other than stockholders and beyond that prescribed by law or union contract. Today many firms practice social responsibility to varying degrees. But it should be noted that the central feature of the above definition is that an action must be voluntary to qualify as socially responsible action. A firm that makes deliberate, regular efforts on efforts on activities for social benefit. Purposes of these efforts are(a) To increase positive impact or (b) To reduce negative impact on society.

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But initially 4 types of social responsibilities are considered as the basic of being socially responsible. These are: (A) Responsibility to consumers, (B) Responsibility to employees, (C) Responsibility to environment, (D) Responsibility to investors The points above are described below: (A) Responsibility to consumers: firms need to bother about responsibility to consumers because Satisfied customers become permanent customers, They do the advertising, Customers are increasingly looking beyond firms products- if they find anything opposing they may boycott the product and influence others also to boycott, Moreover, there is a increasing pressure of consumerism (activities of Individuals, groups, organizations to product consumer rights.). (a) The right to safety: (b) The right to be informed: (c) The right to choose: (d) The right to be heard: (B) Responsibility to employees: To be responsible towards employees org can focus on the following area: Safety in workplace, Equality in the workplace, The hard-core unemployed and Balance in payments.

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(C) Responsibility to environment: One vital environment concern is pollution-the contamination of water, air and land. 1. Water pollution: 2. Air pollution: 3. Land pollution: (D) Responsibility to investors: Firms have the responsibility to the people who invest money in them. All the stakeholders of a firm is concerned about the mishandling of1. Investors fund. 2. Insider trading stock 3. Executive compensation

Arguments for corporate social responsibility

Balances corporate power with responsibility. Discourages government regulation. Promotes long-term profits for business. Responds to changing stakeholders demands. Corrects social problems caused by business.

Arguments against corporate social responsibility

Lowers economic efficiency and profit Imposes unequal costs among competitors. Imposes hidden costs passed on to stakeholders. Requires social skills business may lack. Places responsibility on business rather than individuals.

2.2 HISTORY OF CORPORATE SOCIAL RESPONSIBILITY

Three waves of development: 1. Community relations and contributions responsive to local pressures/needs and CEO/Senior Management - 1960s & 1970s 2. "Corporate citizenship model" based on ethical issues (BSR) including "the new corporate or strategic philanthropy" - 1980s & 1990s 3. "Strategic alliances" closely aligned with corporate objectives - 1999 & beyond

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Traditionally business operated exclusively on the mantra of maximizing profits. As long as "the firm could sell its good[s] or services at prices high enough to make a profit and survive, then its social obligation was fulfilled."

2.3 Why has CSR become important?

Many factors and influences, including the following, have led to increasing attention being devoted to CSR: Advances in communications technology, such as the Internet, cellular phones and personal digital assistants, are making it easier to track corporate activities and disseminate information about them. Non-governmental organizations now regularly draw attention through their websites to business practices they view as problematic. Consumers and investors are showing increasing interest in supporting responsible business practices and are demanding more information on how companies are addressing risks and opportunities related to social and environmental issues. Numerous serious and high-profile breaches of corporate ethics have contributed to elevated public mistrust of corporations and highlighted the need for improved corporate governance, transparency, accountability and ethical standards. Citizens in many countries are making it clear that corporations should meet standards of social and environmental care, no matter where they operate. There is increasing awareness of the limits of government legislative and regulatory initiatives to effectively capture all the issues that corporate social responsibility addresses. Businesses are recognizing that adopting an effective approach to CSR can reduce risk of business disruptions, open up new opportunities, and enhance brand and company reputation.

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Chapter Three
3. Unilever in CSR
3.1 Unilever in CSR
As a part of their public welfare campaign, they have introduced The Mobile Hospital under the brand of Lifebuoy soap. This facility provides free medical services to the people who cannot afford to go to normal hospitals for their treatment. This step has been greatly encouraged other Multi National Companies to provide similar services to people. They have also come up with the Free Dental Service under the umbrella of Pepsodent Toothpaste. This proves their active participation in the helping the society and socially responsible actions. Their public welfare acts have been highly appreciated by the public.

3.1.1 Shada moner manush

In Bangladesh, there are people with hearts of gold, people we call Shada Moner Manush. These people have dedicated themselves to improving the lives of those around them, not for monetary gain or for political benefit but because they care.

3.1.2 Project Joyeeta

Project Joyeeta
Joyeeta is a unique initiative of Unilever Bangladesh to provide sustainable opportunities for over 2900 women in rural Bangladesh to earn their livelihood. Joyeeta is derived from the Bengali word Joy which means Win. Joyeeta is the embodiment of a fearless female spirit trying to better her socio-economic condition by trying new options given her surroundings and ground realities. In recent times Non Government Organizations (NGO)s and government bodies are collaborating to establish self-help groups for the development of rural women supported by micro-credit program. So, Project Joyeeta came out as a realistic

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venture of Unilever Bangladesh aimed at improving the lives of rural women bringing them into a sustainable income generation through entrepreneurial skills.

3.1.3 Education for all

Dhaka city is a fast paced metropolis where the rich and poor co-exist. Given the need for income support most children of lowest income families in the capital city miss out the opportunity to go to school.

Working with SSKS

Unilever came forward to support an institution that provides free primary education to children of lowest income families. There exist some institutions that provide education to these hapless children and one such organisation is Shathee Samaj Kalyan Samity (SSKS), an NGO working for the slum residents in the citys posh residential area- Banani.

3.1.4 Free evening school

Besides entrepreneurial training and other activities, SSKS runs a free evening school for children residing in slums and was funded by an international NGO thus far. Towards the end of 2004, the supporting organisation wrapped up its activities from Bangladesh which left SSKS floundering for funds.

3.1.5 Hygiene & health

UBL volunteers also visits the school to demonstrate the importance of hygiene and health. Pop quizzes through which the children could win Lifebouy soaps, or a Pepsodent toothpaste with each correct answer creates a flurry of eager hands to jumping up to answer that makes it a sight to see!

3.1.6 Uttorone Nari

The Fair & Lovely Uttorone Nari Program has brought the opportunities of computer education to girl students of economically weaker sections

Sponsorship

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In 2003, Fair & Lovely - the popular skin care cream in Bangladesh sponsored meritorious girl students from secondary school level to computer education from a world class computer training institute, spread out in various branches in all districts of the country. More than 1500 girl students were nominated throughout the country to be trained under this program.

3.1.7 Scholarships for higher education

FAL Foundation is providing higher education scholarships for women with the potential and passion for university education and a professional career.

Rewarding talent
Fair and Lovely Foundation undertook many initiatives to encourage women to become empowered with skills for economic independence in life and self fulfillment. The scholarship program was one such initiative that supported the dreams of talented women from economically disadvantaged families.

3.1.8 Urban training

In a new and exciting urban training project , FAL foundation started the vocational training project for 500 urban women across different income generating sectors in order to improve their economic independence.

3.1.9 Fair & Lovely Foundation

When we try to improve the economic situation of a woman , we help to directly improve the lifestyles of households.

Empowering Women
In Bangladesh, like many other developing countries, women facing the same poverty issues as men are subject to additional social and policy biases. For this, they remain backward in terms of education and economic independence. Therefore their need for a guide with a sincere mission to enhance the state of the Bangladeshi women is recognized by all quarters.

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3.1.10 A floating hospital

So what did UBL do? UBL worked with a small NGO named "Friendship" on the innovative idea of establishing a floating hospital to bring essential health services to the char-dwellers. The Lifebouy Friendship Hospital was launched in 2002. Follow the link below to read more about the hospital.

3.1.11 Nutrition
Were constantly learning more about the links between food and well-being it helps us create more foods that make a positive contribution to health.

3.1.12 Pepsodent - Bangladesh Dental Society Oral Health Day

Unilever Bangladesh and Bangladesh Dental Society (BDS) have been working together for over a decade to promote oral health of Bangladeshi people. One of the major activities that is carried out in partnership is the Pepsodent - Bangladesh Dental Society Oral Health Day.

3.2 Global Scenario in CSR

Businesses around the world have now made social responsibility as a part of their business operations. Throughout the world, many multinational firms have opted to respond to the fact of their belongingness to the society. It is visible through the act of many companies who have showed their appropriate social responsiveness.

3.2.1 Shell Key highlights of Shells 2003 social performance:

Improved safety performance $5.2 billion invested locally in developing countries $11.3 billion in royalties and corporate taxes

3.2.2 British American Tobacco

Within the last decade, BAT has done a lot in respect to their social responsibility. They have accomplished a lot in different sectors:

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Education -These programs focus on helping educators and parents to teach children to
exercise responsibility and independence and to resist negative peer pressure, including resisting pressure to smoke.

Retail access prevention- They include proof-of-age schemes and teaching retailers
about relevant laws and ways of preventing sales to minors.

Advertising campaigns -Advertising

youth should not smoke.

can play a vital role in communicating that

3.2.3 Herman Miller

Herman Miller, the furniture-manufacturing corporation made a revolutionary step in preserving rain forest. Instead of using tropical wood i.e. rosewood it uses cherry, which does not come from the tropics. This practice not only encouraged the customer to buy their wooden office desk and tables, it has added more luster to the companys fine reputation. Inspired by Herman Millers decision, the Business and Institutional Furniture Manufacturers Association now urges all its members not to use tropical wood from endangered forests.

3.3 CORPORATE WORLD IN BANGLADESH

As similar to any other third world developing nation, Bangladeshs economic sector is still in the infant stage. It is yet to develop fully. There are very few worthwhile industries to be named. A list of the foreign investors in Bangladesh is as follows: Unilever Bangladesh Ltd., British American Tobacco, Standard Chartered Bank, HSBC, Dutch Bangla Bank, Reckitt Benckiser and so on. They have contributed a lot in terms of social responsibility in Bangladesh.

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3.3.1 Hong Kong and Shanghai Banking Corporation (HSBC)

HSBC Bangladesh has inaugurated a beginners computer course for the students of School of Hope at the Training Centre of the Bank at Motijheel with the help of Bank's resources and involvement of staff. Sixteen students from grade 5 will be benefited from the course. This is the second year that HSBC arranged such a course for the school. This endeavor is a reflection of the Bank's ongoing contribution to the welfare of the society.

3.3.2 Standard Chartered Bank

The Standard Chartered Bank, Bangladesh has also performed such public welfare programs. The Standard Chartered Operating Theatre and Children's Ward at Islamia Eye Hospital was officially opened on 12 August 2003, by Group Executive Director, Mr. Chris Keljik. About 150 children have been operated on at the Standard Chartered Operating Theatre at Islamia Eye Hospital. The Standard Chartered Bank has also built luxurious bus stop for the relaxation of the commuters between the intervals of arrivals of buses, just like the one in Gulshan.

3.3.3 Dutch Bangla Bank:

Dutch-Bangla Bank has done a lot in respect to their social responsibility. They have accomplished a lot in different sectors:

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Education DBBL has awarded scholarship to meritorious including 10 physical disabled students DBBL has awarded scholarship to 200 meritorious and needy students Scholarship program for the meritorious and needy students Blind Education and Rehabilitation Organization (BERDO) DBBL donates books for Bangabandhu Sheikh Mujib Medical University DBBL has donated a Pick-up Van to Bangladesh Agricultural University DBBL has donated books for Dhaka University Central Library DBBL awards scholarships to the meritorious and needy Students International Mathematical Olympiad-2006

Diaster
DBBL has donated Tk. 25 lakh for the victims of devastating landslides in Chittagong DBBL donates 130 bundles of GCI sheets to Noakhali district DBBL donates 700 bundles of high grade GCI sheets to Gaibandha and Rangpur districts DBBL has distributed blankets among the cold-affected people

HealthDonation to different organization Tk.4 crore for setting up a modem cancer hospital to Ahsania Mission Cancer Society. Tk.1 crore for setting up a modern cancer hospital to Bangladesh Cancer Society. Tk.1.20 crore for setting up a pediatric hospital to provide service to low income people whose 30% will be free and rest will be at low cost.

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Tk.90 lac to kidney foundation for setting up Operation Theater.

Diabetic Hospital: DBBL donates Tk.1, 00,00.00 per month to bear operational expenses
of Narayangonj Diabetic Hospital since October 2001.

Rural Health Care: DBBL has established Rural Health Center at its rural branches to
render free medical services to the rural and destitute people of the adjoining areas.

3.3.4 City cell Digital

A local telecommunication enterprise has recently provided stickers with the phone numbers of Police Control room in order to register traffic complaints faced by the commuters of C.N.G auto rickshaws and taxi cabs.

3.3.5 Partex Graded Board, Aqua Paints and Dhaka Bank

At various locations of the Dhaka city, important numbers of various police officers for public concern have been exhibited by local companies like Partex Graded Board, Aqua Paints and Dhaka Bank.

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. 3.3.6 Shark energy drink

Another local firm has supplied free umbrellas for the convenience of traffic sergeants who toil in the hot and humid days for the service of the people.

3.3.7 Biodiversity and pollution

The river Buriganga and its adjacent tanneries of the Hazaribag, Dhaka, can be a prime example of the extent of corporate irresponsibility. Today the Buriganga can be considered literary dead in terms of its bio-diversity, thanks to the wholesale dumping of industrial waste products by the tanneries situated on the riverbanks. According to the Environment Department, up to 40,000 ton of tannery waste flows into the river daily along with sewage from Dhaka, a city of more than 10 million. Industrial waste occupies 30 percent, most of which comes from the tanneries. Chemical analysis suggests that strong color; high BOD, high pH and high dissolved salts characterize tannery wastes. Disposal of these wastes into watercourse with or without prior sedimentation creates a great problem in the environment, especially in the river Buriganga. Wastes are not usually treated to a certain degree before it goes to the river. The water in the low-lying areas near Hazaribagh, with a direct link to the Buriganga River, is polluted in such a degree that it has become unsuitable for public uses. In summer when the rate of decomposition of the waste is higher, serious air pollution is caused in the whole of

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Hazaribagh area, including a part of not too far high-class residential area, by producing intolerable obnoxious odors. The pollutants of tannery wastes are of inorganic, organic and toxic nature and require elaborate treatment before disposal to prevent physical, chemical and biological pollution of the receiving body of water. The tannery waste with high concentration of dissolved solids, suspended solids, chloride, color, ammonia and very high BOD and COD with no dissolved oxygen is being discharged every day in the receiving water. Extent of this problem shows how horrible situation the corporate bodies of our country can cause. The recent obligation set by the government to move these tanneries to other places in two years time shows how accommodative and least proactive the businesses are in Bangladesh.

3.3.8 Labor Union condition in our garments and textile industry

Garments and textile are two industries that are very vital for our economy. Over the years the garments products have occupied a major share of our total exports. These industries require labor as their most important factor of Production. However, do these firms at all behave responsibly towards their labor force? Bangladesh's garment industry employs some 1.5 million Workers, 85% of whom are women. The industry now accounts for 75% of Bangladesh's export income. Out of 3,000 garment factories, less than 1% has active factory level trade unions with collective bargaining agreements. The enforcement of labor laws is weak. The factory owners seldom allow unions. In fact in the export processing zones, law prohibits unions. According to Sk. Nazma, The President of the Bangladesh Workers Solidarity Center, despite all the abuse, the harsh conditions and starvation wages, there is not one single union that can operate openly in any of the factories. Some government officials and most of the factory owners argue against trade union in garments industry in the sense that it will not be economically feasible for a poor country like

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Bangladesh. We all know that at least a smaller labor union should be there for providing check and balance. In foreign countries, some enterprises proactively look after the benefits of their workers so that workers do not feel the need for active unionism. However, by looking at the plight of garments workers we cannot draw any similarity to our garments industries.

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Chapter Four

4.1 Findings
The paper finds that the main obstacles of CSR are: negative image of business, dysfunctional legal background, corruption, difficult economic situation of many companies, the lack of an ethics and ethical standards, and difficult situation on the job market. The main opportunities are: contacts of the companies with the foreign partners, self-regulation trends of business, good economic growth rate. CSR can significantly improve long-term corporate profitability because it reduces risks and inefficiencies while offering a host of potential benefits such as enhanced brand reputation and employee engagement. Some companies use CSR methodologies as a strategic tactic to gain public support for their presence in global markets, helping them sustain a competitive advantage by using their social contributions to provide a subconscious level of advertising

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4.2 Limitation
The limitations and opportunities of the development of CSR in Bangladesh that the implementation of the idea is bound to be a lengthy process requiring involvement, effort and determination from authorities and the cost to implement. Some other obstacles to implement CSR are: negative image of business, dysfunctional legal background, corruption, difficult economic situation of many companies, the lack of an ethics and ethical standards, and difficult situation on the job market. The last factor has prime importance for the perception of CSR in Bangladesh the country with the highest unemployment rate in the world. As corporations pursue growth through globalization, they have encountered new challenges that impose limits to their growth and potential profits. Government regulations, tariffs, environmental restrictions and varying standards of what constitutes labour exploitation are problems that can cost organizations millions of dollars. Some view ethical issues as simply a costly hindrance. Lack of experience was the most significant limiting factor in preparing this report. Since the report was based on primary data there was a possibility of personal error and undue influence in the collection and analysis. Due to risk of disclosing of trade secrets, all information was not available and this put a limit to the extensiveness of the report. Time was also a constraining factor in writing the report. Sufficient books, publications, facts and figures are not available. These constraints narrowed the scope of accurate analysis. If these limitations were not been there, the report would have been more useful and attractive.

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4.3 Recomendations
The idea of corporate social responsibilities is quiet a new term in the corporate world of Bangladesh and the practices are in a very rudimentary form. There are so many fields where different companies are not abiding by the existing laws of the land and they are very successful in nature. However, the encouraging sign is that there are businesses trying to be as proactive as possible like the multinational companies along with the local Enterprises like DBBL. With the active participation of these businesses in our social welfare, this culture Corporate Responsibilities is slowly taking roots in different spheres of the business world. Here are some of the recommendations that the Bangladesh based firms might follow in order to contribute more towards the society. Firms especially the tanneries have to more proactive in terms of waste management system. Different environment friendly systems of waste management like Recycling etc., can be introduced by the joint effort of the concerned firms Labor, especially in the garments industry and firm located inside different EPZs around the country should be given more opportunity to place their concern to the employees. Moreover, the firms have to come forward to proactively consider the concern of labor force so that they can avoid the presence of active trade unionism in their factories. Industries like food processing and restaurants should follow the safety standards more vigorously sometimes should go beyond the scope of existing laws and regulation. . All in all enterprises of this country should take social reporting as an important part of their business operation.

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4.5 Conclusion

As a third world country Bangladesh has lot of problems. Governments often find themselves helpless when it comes to the solving of these problems. As business owners in this country are considered as part of the affluent section of the society they can contribute more meaningfully towards the betterment of the society. CSR may provide a chance for a successful development of the concept in the future. The companies awarded in such programs are formally and officially assured of the rightness of their social and environmental policies, in some cases implemented for a long time CSR is promoted in Bangladesh mainly by foreign companies with branches in our country. They organize informational and educational actions, and more importantly are able to show how to involve business in actions for society and natural environment through many programs realized in our difficult reality. It is especially important that they send the message that the involvement has to be permanent and not just limited to temporary actions, which is what Bangladeshi society is accustomed to. The foreign standards are also a source of inspiration for the institutions that deal in helping the people and organizations in need to contact the companies that can provide the help.

As a third world country Bangladesh has lot of problems. Governments often find themselves helpless when it comes to the solving of these problems. As business owners in this country are considered as part of the affluent section of the society they can contribute more meaningfully towards the betterment of the society.

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Reference
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6. Toyota Auto Corporation Website

7. Shell Corporation CSR Info 8. British-American Tobacco CSR reference website

9. Rabobank - Corporate Social Responsibility 10. HP Global Citizenship Report 2004 11. HSBC in Society Website

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12. Standard Chartered CSR Web - Profile www.iblf.org/csr/csrwebassist.nsf/ content/f1b2a3ax4.html www.leverbangladesh.com/ie/company_chairman02.html www.nlcnet.org/campaigns/ shahmakhdum/testimony-lisa.shtml www.usaid.gov/bd/dem_gov.html www.dailytimes.com.pk/default. asp?page=story_5-5-2003 awww.bangladeshobserveronline.com/ new/2004/01/21/district.htm 13. Unilever Bangladesh Limited Website 14. WWW.NLCNET.ORG 15. WWW.USAID.GOV 16. Daily Times - Site Edition 17. The Bangladesh Observer - Net Edition

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