The Corporate Social Responsibilities (CSR) Performed by Small and Medium Enterprises (SME) In Bangladesh

Abstract

Corporate social responsibility is based on the idea that social responsibility is above and beyond a company. It demands that management is responsible for all interested parties. Corporate Social Responsibility is an ethical commitment by business to contribute to the economic development of the country, as well as its ongoing commitment to improving the quality of life of workers, their families, their communities and local communities. Moreover, it is commercially successful in respecting ethical values and people, communities and the natural environment. It is a combination of policies, education, and practices that extends to all business activities and the communities in which they operate. However, CSR is committed to contributing to sustainable economic development by working with all partners to improve their lives in ways that benefit the business and, in principle, the business. Since the birth of Bangladesh, many Small and Medium Enterprises (SMEs) have contributed to our economy by providing employment, products, and services. The majority of small and medium-sized enterprises (SMEs) belong to the informal sector and have an insufficient management structure and weak resources to deal with social and environmental problems. These limitations lead local entrepreneurs to think only of maximizing profits instead of doing business with the triple end result: profits, planet, and people. Discussions on CSR practices in Bangladesh in their modern global context are relatively new, but not the concept itself. As part of the global market, it is difficult to ignore the CSR standard specified in the export sector. In general, it is true that in Bangladesh the state of practices regarding workers' rights, environmental management, and corporate governance transparency are unsatisfactory, mainly due to the lack of enforcement of existing laws and insufficient pressure from civil society and interest groups as consumer forums. The purpose of the study is to identify the CSR activities contributed by the SME’s of Bangladesh. A survey questionnaire is prepared to analyze this contribution and gather 15 SME’s responses to analyze to what extent the sector is practicing the CSR activities in Bangladesh. A few suggestions are also shared to improve the practices as practicing CSR is highly important for human being, society and the earth.