The Future of Corporate Social Responsibility in Bangladesh

Abstract

Corporate Social Responsibility (CSR) has become an essential aspect of the business strategy for pharmaceutical companies worldwide, including in Bangladesh. This study examines the CSR practices of three leading pharmaceutical companies-Square Pharmaceuticals Ltd., Beximco Pharmaceuticals Ltd., and ACI Pharmaceuticals Ltd. to understand their contributions to healthcare, social development, and environmental sustainability. The research employs a combination of case studies, secondary data analysis, and stakeholder insights to evaluate the impact and challenges of CSR initiatives in the pharmaceutical sector. Findings reveal that these companies have significantly contributed to improving healthcare access, promoting education, and adopting sustainable practices. Their CSR efforts have enhanced their corporate reputation, customer loyalty, and business performance, demonstrating a strong alignment between social responsibility and commercial success. However, the study identifies challenges in measuring the long term impact and sustaining these initiatives amid evolving societal and regulatory demands. The research also highlights emerging trends, such as the integration of innovation and technology in CSR, and increasing stakeholder expectations, which will shape the future of CSR in the pharmaceutical industry. This study offers recommendations for policymakers and companies to enhance CSR practices, emphasizing transparency, collaboration, and sustainable development. It provides valuable insights into how CSR can drive positive change in society while ensuring the sustainable growth of the pharmaceutical industry in Bangladesh