Corporate Social Responsibility dictates that ethical behavior of a company towards society must be followed while discharging business decisions. This means that management needs to act responsibly in its relationships with other stakeholders having legitimate interest or claim to a business – not just the shareholders. The field of CSR focuses on its practices, governance issues, trans-border arrangements, private-public role assessments, etc. Debate on the role of these new responsible corporations and the Government has been on going and issues are discussed as to where to draw the fine line between them.  This line of reasoning attempts to claim that corporate reputation may be severely damaged and have already led to anti-competitive and unwanted outcomes. Indulgence in CSR can impact and manifest itself as accusations of social and environmental injustice. Issues like consumer boycotts, attacks on assets and buildings, spending resources to remedy past mistakes, unable to attract decent employees and loss of existing employee morale, attrition of management time away from core activities, restrictions on operations (new legislation and regulation), obstacles in raising finance and insurance, difficulties with life cycle (customers downstream and suppliers upstream in the supply chain) are issues widely discussed in conferences, academic circles and literatures. CSR scope increases each day, encompassing larger gamut of academic domains, cutting across business boundaries of public policy debates, trans-border issues and to issues of sustainability, self-promotion, brand positioning, etc. Significant academic or corporate literature has not been produced intertwining multifarious domains of knowledge, improving and extending the knowledge curve of the society. CSR is a ‘demand pull’ topic and more industry and academic knowledge need to be developed in this area – the benefits of which will translate beyond academia and industry into civilization.

The jurisdictions of governments are blurring on many issues for regulating large corporations; however, these new arrangements and agreements necessitate the inquiry of how the corporations are positioning themselves vis-à-vis the changes at the governmental level.

Philanthropic ‘community development goals’ and business objectives were for many years seen as separate goals, however, satisfying similar objectives.  Therefore ‘doing well’ and ‘doing good’ were separate pursuits. These objectives are slowly gravitating towards each other. ‘Cutting edge Innovation and competitive advantage can result from weaving social and environmental considerations into business strategy from the beginning. And in that process, we can help develop the next generation of ideas, markets, and employees (www.ssireview.org/articles/entry/invention_for_the_common_good).’ Issues in corporate adaptability and how their practice and perceptions have changed the business landscape is of significant importance for IITM and we interested working with other organization in building a better CSR understanding in Bangladesh and elsewhere.