Definition and scope of CSR

IITM's focus extend on the workings of various initiatives. Corporate Social Responsibility (CSR) is a specialized area where IITM has been working.

CSR is defined in many ways and no universally accepted definition is in place; however, the scope of CSR in corporate board rooms to the management ranks have pervaded and continue to gain momentum. Bangladesh, being a country of scarce resources, has not been active in promoting CSR initiatives either individually, part of a global framework or through citizens’ groups. Some efforts dot the Bangladeshi landscape that have connotation and association with CSR; however, the tie ins of these initiatives are loose and disconnected to CSR as they are mainly driven by citizens’ action committees and the corporate sector is not active in these formations and awareness generation programs. 

World Business Council for Sustainable Development state that "corporate social responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large (CSR: Meeting Changing Expectations, 1999, Page 6).”

CSR - An inclusive Agenda

CSR is a novel and effective idea globally and is forming some interest in Bangladesh. The scope of CSR at industry or academic level is extensive and worth exploring for the welfare of Bangladesh. The corporations in Bangladesh are focused on marketing their own brands and images by creating competitive positioning, driving towards increasing revenue. The marketing strategy at play may have sizeable impact on various stakeholders, including customers. The issues of governance and responsibility from a broad perspective channel the efforts of corporate decisions.

At IITM, we are working to advance CSR initiatives in Bangladesh and playing a facilitative role in research and consulting in the area. Most organizations claim that they are acting in accordance with CSR; however, the perceptions and practices are generally not cross-matched using a CSR framework. The emphasis at IITM lies in finding the right balance that Bangladeshi organizations need to present locally and globally to stake out competitive global positions where issues of CSR are beginning to impact how an organization manages multi-stakeholder associations.

At present, fifty two (52) of the largest economies (Source: www.ssireview.org/articles/entry/invention_for_the_common_good) in the world are corporations, and with that financial strength, reach and presence power comes into play. Corporations are having significant impacts having multi-actor, multi-disciplinary, and international hegemonic control. The use of CSR by the corporations is perhaps an instrument of extending corporate financial and product dominion. We, at IITM, have commenced our own study in this field and have developed the capacity to provide value-added research and consulting support in this area.