Corporate Social Responsibility (CSR) influence on brand equity in energy sector: a case on Chevron Bangladesh

Abstract

Corporate Social responsibility in Bangladesh is quite new comparative to its introduction in the industrial and business world. CSR aims to bridge stakeholders and the local community of the area of operations for an organization to depict their intention of believing in the greater good as a good corporate citizen. Moreover, CSR activities has been legally framed to accelerate community development through sustainable economic growth, leading to correlation of CSR activities and brand equity. In the corporate or business world in the recent times, CSR activities work as an endorsement to the brand equity and reputation of the organization. In the energy sector, CSR activities play a huge role in order to maintain peace and harmony in the community included in the area of operation. Since this sector is very sensitive in regard to environmental, health and safety hazards, for long-term success such sustainable engagement with the community plays a pivotal role. As energy sector deals with the natural resources of the earth which is to be depleted in the coming years, conservation through sustainability is an absolute necessity. Hence, through channeling information of the practice of CSR activities in the energy sector scrutinizes how corporations respond to predicaments.