Corporate social responsibility (CSR, also called corporate responsibility, corporate citizenship, responsible business and corporate social opportunity) is a concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders, as well as the environment. This obligation is seen to extend beyond the statutory obligation to comply with legislation and sees organizations voluntarily taking further steps to improve the quality of life for employees and their families as well as for the local community and society at large.
Though the concept goes back to the early days of industrial revolution, still it is not possible to arrive at a universal benchmark for evaluation of corporate standards across boundaries since corporate in the developed industrialized nations operate in an environment which is far more sophisticated than in the less industrialized agrarian societies.
In a majority of cases corporate citizens of the developed countries are able to comply with the corporate and social responsibility norms, however; the corporate entities in the developing countries obviously lag far behind in terms of attaining the level of compliance similar to those of the developed countries.
Study found that-
a) Corporate Responsibility Practices in the Multinational Enterprises (MNEs) are better vis-à-vis the local companies.
b) Corporate Responsibility Practices in large companies are better vis-à-vis the smaller companies.
c) There are sectoral variations in Corporate Responsibility Practices.
Corporate Social Responsibility of Unilever Bangladesh
Unilever's corporate mission –“ to add vitality to life” – shows how clearly the business understands 21st century-consumers and their lives.
In the 1890s, William Hesketh Lever, founder of Lever Bros, wrote down his ideas for Sunlight Soap – his revolutionary...