Establishment Corporate Social Responsibility (CSR) Practice in Ready-Made Garments Sector (RMG) in Bangladesh

A universally accepted definition of CSR is still absent. A lot of scholarly opinions exist about what CSR is and what it is not. It is often misunderstood by a lot of stakeholders as giving back to the society or considered as a synonym of philanthropy. Corporate social responsibility (CSR) is a concept whereby companies take responsibility voluntarily in order to provide a positive impact on social as well as physical environment to achieve sustainable development. The aim of the research to assess the effectiveness of corporate social responsibility (CSR) Practices of all local and foreign companies in Bangladesh. The research found the social and environmental positive impact by adopting CSR practice and sustainability in every aspect of life and companies. A companys business models should be socially responsible and environmentally sustainable. The company activates should not be harmful for the society and the environment. Through this research motivating multi stakeholders to practice CSR in companies and make sustainable and transparent business and ethical practice. The RMG sector in Bangladesh can create a better business and public image by implementing CSR in their business strategy, which will ultimately attract more buyers from the international market as well as help to ensure social and environmental sustainability vis--vis sustainable development. A multi-stakeholder involvement should work together to promote CSR in RMG sector in Bangladesh.