CSR in an MNC in BD, Unilever

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    Corporate Social Responsibility in an Organization of

    Bangladesh

    A case study on Unilever Bangladesh

    Limited

    Assignment Submitted by:Abdullah Al Mahmud - 1301010601

    Assignment Submitted to:

    Wahida Akethar, Lecturer

    Department of Business Administration

    Leading University, Sylhet

    April 2013

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    Contents

    Abstract 3

    I. Introduction 4

    II. CSR in Historical Perspective 6

    III. CSR Implications to Business Activities 7

    IV. CSR as Community Development 7

    V. CSR in Bangladesh 8

    VI. CSR in MNCs 10

    VII. A case study of an MNS in Bangladesh: Unilever Bangladesh Limited

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    VIII. CSR in Bangladesh: where do we stand? 15

    IX. Conclusion 17

    References 18

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    Abstract

    Apart from the social services by some business firms, the new concept of CSR

    is an emerging one. Businesses are driven by government, labor unions, and

    consumer groups. In the context of Bangladesh, it is more relevant for the

    export-oriented industry. Globalization has made CSR practice an imperative

    for Bangladesh business. CSR concentrates on benefits of all stakeholders

    rather than just the stockholders. Awareness and sense of necessity for

    practicing CSR is becoming more and more pronounced as the country has to

    adapt itself to the process of globalization. But the overall status of CSR in

    Bangladesh is still very inadequate. Lack of Good Governance, absence ofstrong labor unions or consumer rights groups, and inability of the business

    community to perceive CSR as a survival pre-condition in export, local market

    constitute some of elements undermining the evolution of CSR practices. Some

    annoying incident like boycott from the importer has taught the local business

    community about the immense importance of CSR and adoption of this modern

    and competitive practice is gradually increasing in Bangladesh.

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    I. Introduction

    Corporate Social Responsibility or CSR for short is a relatively new

    term that has suddenly gained currency. Hundreds, indeed thousands, of

    companies are adopting ethical policies or codes of conduct saying howthey intend to behave. More and more companies are signing up to such

    initiatives as the United Nations Global Compact or the Fair Labor

    Association. Around the world there are conferences and initiatives, where

    corporate CSR Executives meet up with campaigns, NGOs and trade unions.

    Take the example of the oil company Unocal, which was severely criticized

    for using forced labor to construct a pipeline in Burma, a country run by a

    tyrant regime and subject to an international boycott. Labor rights groups in

    the US took Unocal through the courts. Unocal now has a huge area on its

    website devoted to CSR. In fact, CSR means different things to different

    people. However, certain ideas are becoming commonly accepted. One is

    that CSR is not about philanthropy or charitable work. It refers to something

    much more fundamental. It is about how companies take responsibility for

    their actions in the world at large. CSR monitoring groups such as Labor

    Unions, Consumer Groups, Environmentalists, NGOs and all Stakeholders

    are watching over their interest as opposed to Stockholders only.

    The role of business worldwide and specifically in the developed

    countries has developed over the last few decades from classical profit

    maximizing approach to a social responsibly approach, where businesses

    are not only responsible to its stockholders but also to all of its stakeholders

    in a broader inclusive sense. One can identify so many reasons for shifting

    the role of business from classical concept to a responsible business concept,

    but negative impression of stakeholders on the enterprise would get a higher

    priority among others. In one hand, enterprises create wealth and job

    opportunities for the society and on the other hand, they pollute and destroy

    environment and ecology with devastating impact on human health and bio-

    diversity worldwide. To address the social problems or the problems of the

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    stakeholders, the business community evolved a new approach in their

    business strategies named CSR and through CSR enterprises are intent to

    strike a balance between economic and social goals, where resources are

    used in a rational manner and social needs are be addressed responsibly.

    CSR can be viewed as a comprehensive set of policies, practices, and

    programs that are integrated into business operations, supply chains, and

    decision making processes throughout the company and include

    responsibilities for current and past actions as well as adequate attention to

    future impacts. CSR focuses vary by business, by size, by sector and even by

    geographic region. The umbrella of CSR is quite big and it includes all the

    good practices that increase the business profitability and can preserve

    interest of all stakeholders.

    However, Lotus Holdings defines CSR as The integration of the

    interests of the stakeholders all those affected by a companys conduct

    into the companys business policies and actions, with a focus on the social,

    environmental, and financial success of a company, the so-called triple

    bottom-line with the goal being to positively impact society while achieving

    business success. Thus, the whole range of stakeholders is considered as

    integral parts of CSR. One important aspect of CSR is that it is not legal

    obligation but rather voluntary social and environmental positive initiative to

    establish an image of environmentally and Socially Responsible Business

    (SRB) that also encompasses (Small and Medium Enterprises) SMEs as well

    as giant corporations. The motivation and drive to pursue is primarily a result

    of pressure from well organized Consumer Rights movement, specifically in

    developed world that acts as a watchdog and hardly hesitates to impose

    Consumer Boycott against a company that violated established CSR

    practices. An Ideal example is the consumer boycott imposed on purchasing

    Bangladesh Readymade Garments on the ground that these are produced by

    under-aged child labor. Despite the fact that in the not so distant past, CSR

    was more of a charity by affluent or socially responsible business

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    organizations without expecting any financial return, today, it very much a

    planned investment in creating positive image to enhance profitability.

    Under CSR concept, companies decide voluntarily to contribute to a better

    society and a more sustainable environment. As evolved primarily in the

    western world, most of the rising companies there practice CSR to enhance

    the image and acceptability in the community (Green Paper, 2001).

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    II. CSR in Historical Perspective

    CSR is a concept whereby companies integrate social and

    environmental concerns in their business operations and in their interactions

    with their stakeholders on a voluntary basis. (Green Paper, 2001) Sociallyresponsibility means not only fulfilling legal expectations, but also going

    beyond compliance and investing more into human capital, the

    environment and in building with stakeholders. It is relevant in all types of

    companies and in all sectors of activity, from SMEs to Multinational

    Companies (MNCs). A number of companies with good social and

    environmental records indicate that these activities can result in better

    performance and can generate more profit and growth. (Green Paper, 2001)

    Research (Industry week, 15 January 2001) has shown that about one half of

    the above average performance of socially responsible companies can be

    attributed to their CSR image while the other half is explained by their

    performance. Socially responsible companies are expected to deliver above-

    average financial returns. (Green Paper, 2001) CSR has some internal

    dimensions such as: human resources management, health and safety at

    work, adaptation to change and management of environmental impact and

    natural resources. The external dimensions include local communities,

    business, partners, suppliers and consumers, human rights and global

    environmental concerns. Again, CSR may be as simple as sponsoring social

    service oriented entertainment events. In essence, CSR is positive

    relationship with the society. In a Bangladesh context, several multinational

    companies and local companies practice CSR. While the multinationals are

    influenced by their own social responsible business (SRB) disposition, most of

    the business concerns in Bangladesh do not rate high in practicing CSRunless being pressured by the foreign buyers in case of export oriented

    business.

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    III. CSR Implications to Business Activities

    Companies are facing the challenges of adapting effectively to the

    changing environment in the context of globalization and in particular in the

    export sector. Although Consumer Rights Movement, enforcement ofgovernment regulations and a structured view regarding the economic

    importance of CRS are not yet so widespread in the corporate world in

    Bangladesh, companies have gradually attaching more importance to CSR in

    the local market as well. They are increasingly aware that CSR can be of

    direct economic value. Companies can contribute to social and

    environmental objectives, through integrating CSR as a strategic investment

    into their core business strategy, management instruments and operations.

    This is an investment, not a cost, much like quality management. So,

    business organizations can thereby have an inclusive financial, commercial

    and social approach, leading to a long term strategy minimizing risks linked

    to uncertainty.

    IV. CSR as Community Development

    CSR in Bangladesh can also contribute a lot to community

    development. The corporate house can develop the community by creating

    employment, providing primary/vocational education, basic treatment,

    contribution to infrastructure development like road and high-ways and

    addressing emergency responses, environmental concerns. This is more

    relevant for a country like Bangladesh where the government interventions

    in these fields being increased by corporate alliance can go a long way in

    developing the economy, society and environment.

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    V. CSR in Bangladesh

    CSR concepts and practices in Bangladesh have a long history of

    philanthropic activities from the time immemorial. These philanthropic

    activities included donations to different charitable organizations, poorpeople and religious institutions. Till now, most of the businesses in

    Bangladesh are family owned and first generation businesses. They are

    involved in the community development work in the form of charity without

    having any definite policy regarding the expenses or any concrete motive

    regarding financial gains in many instances. Moreover, most of the SMEs fall

    under the informal sector having low management structure and resources

    to address the social and environmental issues. These limitations drive the

    top management of local companies to think only about the profit

    maximization rather than doing business considering the triple bottom line:

    profit, planet and people (CSR definition of Lotus Holdings). The discussions

    on CSR practices in Bangladesh in its modern global terms, are relatively

    new, but not so for the concept itself. Because, being a part of the global

    market, it is difficult to ignore CSR standard specifically in the export sector.

    In general, it is true that in Bangladesh, the status of labor rights practices,

    environmental management and transparency in corporate governance are

    not satisfactory, largely due to poor enforcement of existing laws and

    inadequate pressure from civil society and interest groups like Consumer

    Forums. Globally, as CSR practices are gradually being integrated into

    international business practices and hence is becoming one of the

    determining factors for market accesses, it is becoming equally instrumental

    for local acceptability. A focus on CSR in Bangladesh would be useful, not

    only for improving corporate governance, labor rights, work place safety, fairtreatment of workers, community development and environment

    management, but also for industrialization and ensuring global market

    access. Since, CSR entails working with stakeholders it is important to work

    from within and diagnose the stakeholders; concerns so that CSR is truly

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    embedded in the companies. By now, many CSR dimensions are practiced in

    Bangladesh. The SMEs largely depend upon export. The US and EU buyers

    set guidelines to RMG industry to ensure the standards. The 1992 Hrkins Bill

    and subsequent consumer and industry boycott of RMG products by USA and

    the consequent remedial moves by local RMG sector is one example.

    Moreover, some buyers from EU visited the sites of recently collapsed

    garments factories. A temporary ban was also imposed on Shrimp export to

    the EU on health and hygienic standard and appropriate remedial action

    followed in that instance too. But, some of the exporters found difficulty in

    convincing the US/EU buyers to have positive attitude towards Bangladesh

    due to inadequate CSR practices.

    Lack of enforcement of Industrial Laws and Regulations, weak unions,

    absence of consumer rights groups and high level of corruption within the

    regulatory bodies make CSR violation rampant in Bangladesh. Two most

    significant foreign exchange sources are the RMG sector and the overseas

    manpower export. Unbelievably low compensation, working hours,

    health/hygiene/sanitation conditions, fire safety and various types of abuse

    are so common and to the extent of inhumanity that wild shock any

    conscientious individual to the core. Recently, the RMG sector employees

    have embarked on an industry wide movement to establish their rights.

    However, a number of corporations are now following an increased

    commitment to CSR beyond just profit making and compliance with

    regulation. Organizations such as CARE Bangladesh, Katalyst and

    Bangladesh Enterprises (BEI) are working at the forefront of CSR activities in

    Bangladesh. These organizations are preparing Corporate Social Audit

    catering to small/Medium enterprises. While these initiatives are more

    discretionary in their nature, they have resulted in the creation of jobs and

    value-added services to communities that BATA, Unilerver, GrameenPhone

    and CARE are showcasing as CSR programs in action.

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    It is also found that initiatives in CSR activities in Bangladesh are

    pioneered by MNCs. Since Bangladesh is now exposed to global standards, it

    can be anticipated that the CSR activities in Bangladesh will continue to be

    extended. Firms are now trying to uphold their corporate image of socially

    responsible firms and consequently influence consumer buying decisions in

    favor of the goods and services marketed by them.

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    VI. CSR in MNCs

    In recent times, there has been an acceleration of multinational

    corporate activity, generating wide attention and criticism. In the era of

    globalization, Multinational corporations (MNCs) that conduct business acrossnational boundaries in many countries are no longer able to conduct

    destructive and unethical practices under protective radar. With a dramatic

    propagation of media attention, propagation of nongovernmental

    organizations (NGOs) and global information sharing, there is a surging

    demand from civil society, consumers, governments and shareholders for

    corporations to conduct sustainable business practices. The corporate

    response has often meant an adoption of a new consciousness. (Anupama

    Mohan, 2006)

    The corporate response has often meant an adoption of a new

    consciousness and this has been known as Corporate Social Responsibility

    (CSR) since the 1970s. MNCs are faced with diverse stakeholder

    environments across their international operations. This has several

    implications for MNCs management of stakeholder relations across the

    multiple levels and diverse contexts of its operations. Global CSR

    management also involves cross-border transfer and management of CSR

    practices, from one part of the MNC to another, as well as the management

    of local CSR practices suited to the local context of the subsidiary units.

    The MNCs are faced with wider CSR expectations, and MNCs are under

    increasing pressure for socially responsible behaviour in their global

    operations. The complex legitimacy issues faced by MNCs across these

    diverse political, economic, institutional and sociological environments are

    also discontinuous and marked with uncertainty and preclude universalcorporate policies because what may be acceptable in one country or at a

    time may run counter to public policies or acceptable norms elsewhere or at

    other times (Logsdon and Wood, 2002).

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    Common CSR practices in Bangladesh by MNCs are centered around

    namely poverty alleviation, healthcare, education, charity activities, cultural

    enrichment, youth development, women empowerment, patronizing sports

    and music etc. these activities are devised to be the partners in development

    as responsible citizen.

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    VII. A case study of CSR of an MNS in Bangladesh: Unilever

    Bangladesh Limited

    In describing CSR policy, Unilever Bangladesh Limited

    states that, We seek to make a positive impact on society

    through the brands we produce and sell, through our

    commercial operations and relationships, through the

    voluntary contributions we make to the community and

    through our wider engagement with society. We are also committed to

    making continuous improvements in the management of our environmental

    impacts and to working towards our longer-term goal of developing a

    sustainable business.

    Unilever Bangladesh set itself at an exemplary position in the country

    as an imitable leader in the area of corporate engagement in social

    development. In 2006, Unilever Bangladesh was honored with a national

    level CSR award organized by Standard Chartered Bank and the Daily

    Financial Express.

    Some of the key CSR activities carrying out by UBL are explained

    shortly below:

    Pepsodent Dentibus: The Dentibus is a modified bus sponsored and

    managed by Pepsodent, that goes around the country carrying free

    dental check up facilities and expert advice of good oral care. As part

    of the program, Dr. Tanjin, a dental surgeon of Pepsodent Dentibus,

    gave free checkups to over a 100 students of Bangladesh Agricultural

    Research Institute (BARI) high school in Gazipur. The Dentibus

    checkups start in the mornings, while general people outside the

    school are also encouraged to receive these free checkups in the

    afternoon. The Dentibus usually spends an entire day in an area amid

    much announcements and hype so that everyone can be benefited

    from the Dentibus Visit.

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    Fair and Lovely Foundation scholarship Program: The

    Scholarship Program invites applications from undergraduate female

    students from across the country, through various newspaper

    advertisements. The participants go through a preliminary screening

    process conducted by the biweekly magazine The Anannya, while a

    specialized panel of judges from relevant fields interviewed the final

    nominees. Fair & Lovely Foundation is a social initiative of Unilever

    Bangladesh Ltd. that is involved in projects in the areas of education,

    carrier and enterprise.

    Nurse Training Program on Ma o Shishu General Hospital: On

    1st November, 2006 Unilever inaugurated a 2-month training program

    for the nurses of Maa O Shishu General Hospital to help upgrade the

    skills and capabilities of the nursing staff at the hospital. A specialist

    team of consultants from the Tata Institute of Social Science and

    Wockhardt Hospital, India are conducting the training workshop, which

    is being attended by 25 nurses from the hospital. Unilever Bangladesh

    has had a long association with Maa O Shishu General Hospital in

    Chittagong. In 2004, UBL sponsored the setting up of a modernoperation facility at the Hospital. This included the modernization of

    the existing operation theatre and setting up of a new one together

    with an advanced Intensive Care Unit. This has provided Chittagong

    with facilities for high quality medical care for mothers and children

    from economically weaker sections of the society.

    Unilever helps support underprivileged children: Unilever

    Bangladesh Limited (UBL) and Shathi Shamaj Kalyan Samity (SSKS)

    signed an agreement on 3rd May 2007 to continue Unilevers support to

    the operation of a school for underprivileged children. The school is for

    underprivileged children living in slum areas of Banani and UBL has

    supported the school and its activities since 2005 and apart from

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    giving financial support, Unilever managers have also personally

    helped by teaching students of the school.

    Unilever helps to rehabilitate the Sidr victims: Unilever

    Bangladesh Limited (UBL) has taken up a project to rebuild the SIDR

    affected village of Char Nazir under the Galachipa Thana. As part of

    this project, housing will be built for approximately 75 families.

    Additionally a cow or goat will also be provided to them for income

    generation. The total cost of this project is estimated to be Tk 80 Lakh.

    Other initiatives under this project include the installation of deep tube

    wells and the rebuilding of retail outlets in the village. UBL will work in

    close collaboration with the Bangladesh Army to make this project

    happen. The managers of UBL have also donated an additional Tk 3.5

    Lakh from their salary the proceeds of which will go towards funding

    this initiative. In another initiative, Unilever Managers distributed about

    Tk 1.5 Lack worth of relief to SIDR victims. The distribution was done in

    Patharghata in Barguna District. Relief material included lanterns,

    common utensils like bowls, gas lighters and biscuits and clothing such

    as shawls and sweaters. A further Tk 24 Lakh has also been distributed

    among the distributors staffs who were affected by the cyclone and

    another Tk 25 Lakh has been donated to the British Business Group

    (BBG) for rebuilding a school in Majher Char.

    Unilever managers distribute relief materials to flood affected

    people: Unilever Bangladesh managers have contributed from their

    salary to provide relief materials to the flood affected people of the

    country. This relief material was in the form of five kg relief packs

    containing Chal, Dal, Salt, Dry Biscuits, Orsaline and Water purifying

    tablets. Using the distribution strength of the Company, Unilever

    Bangladesh managers distributed these packs in fourteen areas across

    the country through their regional offices in Dhaka, Sylhet, Bogra and

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    Khulna. Recently, Unilever Bangladesh also handed over a cheque for

    Taka 20 lakhs to the Chief Advisor, Dr. Fakhruddin Ahmed, towards the

    flood relief fund at his office.

    Unilever Bangladesh and CARE to create business

    opportunities for Rural Women: Unilever Bangladesh Limited and

    CARE Bangladesh signed an agreement on 3rd December 2006 to

    create sustainable business opportunities for a thousand rural women

    of Bangladesh Unilever Bangladesh already has an existing project

    called Joyeeta, an initiative through which opportunities are currently

    provided to nearly 2000 women in rural Bangladesh for sustainable self

    employment. While CARE Bangladesh has experience of working with

    rural women in different areas of the country through Rural Sales

    Program in order to create income and employment opportunity for

    the rural poor women through linking them with market. With the

    support from CARE, this rural sales project named "Aparajita", UBL will

    be able to expand this initiative to reach 20 more Upazillas of the

    countrys northern and eastern districts. This is a unique initiative of an

    international NGO and a global private partner coming together to

    facilitate the empowerment of under privileged women of the country.

    Unilever gives support to Asian University in Chittagong:

    Unilever Bangladesh Limited (UBL) signed an agreement with the Asian

    University for Women Support Foundation (AUWSF) on 27 th May 2007

    to create a fund for two scholarships titled the Unilever Bangladesh

    Scholarships. Mr. Rakesh Mohan, Chairman and Managing Director of

    Unilever Bangladesh Ltd and Mr. Kamal Ahmad, President and CEO,

    AUWSF signed the agreement on behalf of their respective

    organizations. This scholarship fund will enable two Bangladeshi

    nationals to study on full scholarship for five years at the Asian

    University for Women (AUW), a premier and state-of-the-art higher

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    education institution for women that is scheduled to be inaugurated in

    Chittagong, Bangladesh. AUW is a residential university designed to

    offer 2,500 high potential young women from across Asia high

    international level higher education to help prepare them to be change

    agents in society. Unilevers scholarship programme starts with AUWs

    first incoming class of freshmen in September 2009 and runs up till

    2014.

    Unilever Jointly Sponsors a Chevening Scholarship: Unilever

    Bangladesh Limited and the British High Commission signed an

    agreement on 11th September 2006 to jointly fund a Chevening

    Scholarship titled the Unilever Chevening Scholarship for a

    Bangladeshi national wishing to study in a University in the United

    Kingdom. The fields of study included for the Unilever Chevening

    Scholarship are the areas of Health, Education and Womens

    Empowerment. Chevening Scholarships are prestigious scholarships

    awarded by the UKs Foreign and Commonwealth Office, aimed at

    providing opportunities for post-graduate study in the UK for young

    professionals in early or mid-careers who demonstrate both academic

    excellence and the potential to become leaders, decision-makers and

    opinion-formers in their own countries.

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    VIII. Future of CSR in Bangladesh:

    As part of CPDs publication activity, CPD held a Roundtable at CIRDAP

    auditorium on August 4, 2002, on the theme of Corporate Social

    Responsibility: Where do we stand?. Based on the study, the keynotespeaker Dr Ananya Raihan advocated the following policy options for the

    corporate stakeholders:

    For the Companies

    1 a. As both the civil society group and workers hold negative opinions

    about the corporate responsibility, companies have to seriously

    consider how to restore their image.

    2 b. The variability of perceptions indicates specific areas where to

    intervene and set priorities. All the controversial issues including the

    overtime issue should be taken note of and settled through a multi-

    stakeholder initiative.

    3 c. Environmental concerns should receive greater attention by the

    companies.

    4 d. Gender aspects should be more carefully addressed and monitored

    for their implementation.

    5 e. Corporate-community relations are found to be strained. The

    corporate owners and executives should consult and communicate

    with the local communities on a regular basis.

    6 f. Health and safety issues deserve greater attention given that failure

    in these areas impact negatively on the productivity and endanger

    human life.

    7 g. More consultation should take place between the employers and the

    employees so that a team spiritis restored in the corporate.For the Civil Society

    1 a. Should enhance their participation as a stakeholder in the corporate

    affairs for holding the corporate entities accountable to the greater

    segment of the populace

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    2 b. Should contribute to the process of awareness building of all the

    stakeholders so that the corporate do not function in an exploitative

    condition.

    3 c. Should contribute to the process of multi-stakeholder exchange of

    views and ideas in terms of both initiating and organizing multi-

    stakeholder forums

    4 d. Policy advocacy

    For the Government

    1 a. Provide policy guidelines for smooth functioning of the corporate

    entities

    2 b. Monitor and enforce laws related to labour issues, environment

    protection, health and safety issues

    c. Provide the logistic support for enhancing the overall corporate

    standard and stay and carefully monitor the initiatives of the global

    trade partners and regimes so as to ensure that the corporate

    responsibility issue is not used as a pretext for market access barrier.

    At another Roundtable Corporate Social Responsibilities (CSR)

    Practices and Challenges in Bangladesh, organized by CSR Center of

    Bangladesh Enterprise Institute (BEI), held on Thursday, 23 February, 2006,

    speakers identified dearth of expertise, poor accountability as major

    obstacles to obstacles to practicing CSR in Bangladesh. They elaborated that

    lack of expertise and poor accountability of corporate houses are obstacles

    to implementation of CSR in Bangladesh. The speakers also said many CSR

    activities by Bangladeshi corporate houses are centered mainly on publicity

    and short-term implications. The BEI roundtable on CSR titled 'Corporate

    Social Responsibility Practices and Challenges in Bangladesh' was a part of

    its 'Dialogue Series on CSR in Action'.

    Sanjiv S Mehta, chairman and managing director of Unilever

    Bangladesh Ltd, Mohammad Abu Musa, deputy managing director of

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    Dhaka Bank Ltd, and Mohin Khan, executive assistant (Board Affairs) of

    BRAC, spoke at the discussion.

    BEI President Farooq Sobhan said corporate entities should understand

    what CSR is and why it is important. The private sector enterprises will

    remain weak unless and until they practice CSR in their ventures, the BEI

    president said, adding that when it comes to adopting good corporate

    governance, Bangladeshi companies are lagging far behind those in India,

    Pakistan and Sri Lanka. "Properly implemented CSR programs help the

    companies meet legal and societal expectations and benefit governments,

    employees, citizens and businesses," noted Farooq. On the other hand,

    poorly implemented CSR programs are nothing but public relationsexercises, he mentioned.

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    IX. Conclusion

    The modern concept of Corporate Social Responsibility (CSR) is

    evolving gradually despite several hindrances. Driving forces behind this

    evolution is pressure from various stakeholders (Importers,Environmentalists) while slow progress is attributed to lack of Good

    Governance, absence of strong labor unions, consumer forums and above all

    lack of unders tanding by business houses, specifically non-exporting

    ones, that CSR is not charity but is rather an instrumental investment.

    The global competitiveness and demand is driving the CSR practices

    and standards in Bangladesh, a developing country. But we are yet go a long

    way. There are challenges to implement CSR properly in Bangladesh.Ultimately CSR practices should be better practiced in Bangladesh for better

    and enhanced performance. In the publication Good Governance and

    Market-Based Reforms: A Study of Bangladesh, Fara Azmat and Ken Coghill

    relates Good Governance with CSR by discussing the good governance

    indicators of regulatory quality, rule of law and control of corruption in the

    context of Bangladesh and analyses how lack of good governance indicators

    affects the success and sustainability of reforms and contributes to the lack

    of business ethics and CSR in Bangladesh.

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    References:

    1. Green Paper on CSR, Asia Link Program, The European Union

    2. Corporate Social Responsibilities: Practices and Challenges in

    Bangladesh, Roundtable by Bangladesh Enterprise Institute (BEI),

    Dhaka

    3. Corporate Social Responsibility: Where do we stand? Roundtable by

    Centre for Policy Dialogue (CPD), Dhaka

    4. Good governance and market-based reforms: a study of Bangladesh,

    Fara Azmat and Ken Coghill

    5. www.unilever.com.bd

    6. www.csrbangladesh.org

    7. Anupama Mohan, Global corporate social responsibilities management

    in MNCs, Journal of Business Strategies, Huntsville: Spring 2006. Vol.

    23, Issue 1

    8. Logsdon, J. M. & Wood, D. J. (2002). Business Citizenship: From

    Domestic to Global Level of Analysis. Business Ethics Quarterly, 12,

    155-187.

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    http://www.unilever.com.bd/http://www.csrbangladesh.org/http://www.unilever.com.bd/http://www.csrbangladesh.org/