CSR an ethical way to boost earnings

social responsibility (CSR) practices by companies will help exporters increase their earnings, analysts said.

At the function, organised by Dhaka Chamber of Commerce and Industry (DCCI), they also urged the businesses to adopt CSR in businesses to build reputation and reduce risks.

"If we can start CSR in our organisations, our products will get more acceptability on the international market, which means export earnings will increase," said Aftabul Islam, former DCCI president.

CSR plays a vital role in exporting products to the rest of the world, Islam said in his speech to a seminar at the DCCI auditorium as chief guest.

DCCI and German Technical Co-operation (GTZ) co-organised the seminar on how CSR can be a profitable, yet ethical way of doing business.

If small businesses strive to grow, they must reach out to a wider global market, the discussants said. In today's world CSR has become a global necessity for taking a leap forward and attaining a larger share of the market, they said.

Speaking on the issue, they viewed that every business organisation has some social responsibility.

DCCI President Zafar Osman said a CSR strategy should be developed in the country, which he said would help alleviate business risks and minimise social disputes.

Osman urged all to attach importance to establishing a socially-compliant business environment. "A socially responsible company should arrange training for the staffs and adopt several cost-saving methods," he said. DCCI plans to establish a CSR centre on its premises.

Consultant Mohiuddin Babar and Director of Centre for Management Development AMM Khairul Bashar made presentations on CSR at the seminar.

CSR encourages businessmen to make profit ethically, said Dietrich Stotz, programme coordinator of GTZ-progress.

"CSR is important to business nowadays as it advises the businessmen to profit abiding by the ethics of business."

Source: The Daily Star