Winning companies\\\' vow to become economic symbol of ascent

There is an urgent need for greater involvement of corporate entities in corporate social responsibility (CSR) activities for the betterment of the society.
Companies' contributions through CSR initiatives not only help ensure their commitment to the society, but they get long-term benefit out of their CSR programmes.
Apart from having traditional objectives to make profit, corporate entities should not forget about their commitment and responsibilities for the society.
The observations came at the 5th Standard Chartered-Financial Express CSR Awards giving event, held Wednesday at a city hotel.
Finance Minister AMA Muhith handed over the awards for 2014 to three renowned companies - Grameenphone, Unilever and BSRM - as the chief guest.
Announcing the names of the award winners, the acting chairman of the jury board Hafiz GA Siddiqi highlighted the importance of CSR activities of the companies and business entities.
"Although business organizations need to make profit for survival, it is also their integral part and responsibility to contribute to the social development," he said.  
Bangladesh Bank Governor Dr. Atiur Rahman and Standard Chartered Bank (SCB) Chief Executive Officer (CEO) Jim McCabe also spoke on the occasion.
In his speech, the Standard Chartered Bank CEO congratulated the winners and said "Vision with action has the power to change the world. CSR efforts that combine a vision with tangible action can benefit Bangladesh for sustainable economic growth.
"At Standard Chartered, we believe that we can make a positive impact on the communities we live in; and in turn, our business will grow with the people and communities," Mr Jim said.
The Standard Chartered Bank- Financial Express CSR Awards honours such visionary actions which are making a lasting difference to Bangladesh and its people, he said, adding there are clearly more awareness raising and more persuading to be done.
In particular, there is a need to build on the momentum that 'Standard Chartered-Financial Express Corporate Social Responsibility Award' has generated, he observed.
Expressing his satisfaction over receiving the prestigious Standard Cratered - Financial Express CSR award, the GP CEO Vivek Sood in his speech conveyed thanks to jury board and the organisers for giving his company the enduring opportunity to present its CSR initiatives.
Grameenphone's vision is to Empower Societies by providing digital communications services which enable people to improve their lives and secure a better future, Mr. Sood said, adding his company wants to maximise the impact of communication services by creating shared value for both society and business.
"The mobile phone is increasingly becoming a tool for improving people's lives. We believe mobile phone can help transform the lives of individuals; allowing financial inclusion, access to knowledge, and making health services affordable and accessible for all," said the GP CEO.
The societies are empowered to grow and progress and the GP's one of the key objectives is to bring the benefits of mobile communication to a wider audience, he mentioned.
"We focus on creating sustainable initiatives that can bring long-term value for the community and our company. Our Sustainability initiatives are built on our core competence - communications. We focus our efforts in three key areas i.e. education, health and climate that create shared value for Grameenphone and society," said the GP CEO.
Since inception, Grameenphone has been trying to be part of the development process, be it through our direct contribution to national exchequer, through our innovative products and services or through our efforts to develop sports, education and health services, he observed.
"We think that the corporate entities of Bangladesh should coordinate their efforts to enable the people of this country to play their individual roles in the development of the country," Mr. Sood said.
Expressing his satisfaction over receiving the prestigious award, the Unilever Bangladesh Product Group Manager Chowdhruy Hasan Mazhar said the company has been gradually expanding their CSR activities and its contribution to social services will continue in future.
Mr. Chowdhury also appreciated the SCB-FE CSR Award jury board activities and for acknowledging his company's CSR activities.
He also reiterated the company's commitment to various social activities apart from its business expansion and ensuring product products to the consumers.
"The company is proud to have engaged in various CSR activities, as part of its responsibility of servicing the society. The company is committed to further expansion of its CSR initiative in future," he said.   
It is the second time that Unilever Bangladesh has won the SCB-FE CSR award this year as it won the same earlier.
Chairman of the BSRM Group Alihussain Akberali expressed his gratitude to the jury board and the organisers of the award for recognising his company's CSR initiatives.
"We express our heartfelt thanks to the jury and the organisers for choosing us for this prestigious award," Mr. Alihussain said.
He said this award will encourage him and his company for further expansion and continuation of the CSR activities, aiming to alleviate poverty and empower the poor.
"We're so exited that we'll take long-term plans for the CSR activities," he said.
Mr. Alihussain, also a chartered accountant, said the norms chosen by the jury to give the awards is also brilliant and only the deserving companies will get the award.
"It's really appreciating this type of award," Mr. Alihussain said.
He said the existing CSR rules are not encouraging ones as it does not companies to be engaged in some charity activities.
He said he prefer to provide some financial assistances to the mosques, madrashas and schools.
"In my view, the government should prepare detailed guideline on the CSR allowing funding in such type of charity activities," he said.
He said the government should allow CSR activities partly for funding schools, mosques, madrashas or other social charity organisations.
Meanwhile, The Financial Express got itself involved, over a decade back, in the initiative of the Standard Chartered Bank for institutionalising the CSR award to help create a momentum in support of CSR activities among the businesses in Bangladesh.
In tandem with efforts by a member of relevant bodies and organisations, there is now a greater awareness about the importance of CSR for linking businesses to society in Bangladesh. The FE, considers it as a positive development, to the process of which Standard Chartered-Financial Express CSR award has also modestly but firmly contributed.
CSR, as you all know it amply well, is a voluntary process. It is essentially aimed at creating a strong base for a caring society with the businesses playing a catalytic role in that process.
CSR is certainly not synonymous with individual donation, charity or philanthropy. It transcends much beyond it, with sustainability and continuity of efforts, in pursuit of the goals and objectives of promoting the well-being of the community in which the businesses operate, being considered its key aspects.
It is neither a one-off activity nor is it related to efforts for earning profits by any company in the short-term. CSR and corporate governance issues are also separate matters. CSR activities are voluntary in nature that helps businesses to be closely integrated with, or embedded in, the society. Corporate governance issues are regulatory matters and these are legally mandatory for all businesses to comply with.
CSR activities are meant for promoting socially responsible behaviour on the part of the businesses or companies.                     
In the process, the CSR activities can help forge close understanding and rapport in a win-win situation among the businesses and their various stake-holder groups.
This is a win-win situation in the sense that the businesses through their CSR activities can have a better foothold in the society, winning trust and confidence of various stakeholders groups, nay the community at large, about their appreciation of the need for making efforts for fulfilling the societal expectations within their respective means and also for demonstrating their long-term commitment to ensuring a caring society.
And in the process of such activities, the businesses can ensure better prospects for their future growth and expansion along profitable lines on a long-term, sustainable basis. For this, formulation of CSR strategies by respective businesses, having better conceptual and contextual understanding of the community's needs, hopes and aspirations, assume a great deal of importance.