Corporate Social Responsibility: Its Importance and Practices in the Ready-Made Garments Sector of Bangladesh
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Abstract
The purpose of the study is to discuss the CSR activities in the ready-made garments industry in Bangladesh. In particular, the study focuses on present situation of CSR practices in the ready-made garments industry of Bangladesh. The study also investigates how to engage the stakeholders to encourage the suppliers to be a CSR followed company in Bangladesh. The study takes a qualitative approach undertaking secondary information to understand the importance and CSR practices in Bangladesh. The study found that, currently CSR is not practiced properly in all the suppliers’ factory where it is recommended to initiate local collection action among the stakeholders and in some cases to form multi-stakeholder relationship to encourage the suppliers to practice CSR in their companies to maintain a healthy relationship with the buyers. This paper is unique in nature as the previous studies of CSR all are done in the European context, very few are available in the developing countries such as Bangladesh, therefore, this paper is going to make some contribution towards CSR studies of developing countries.
Keywords
CSR (Corporate Social Responsibility, Bangladesh, ready-made garments, stakeholders
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