Socially Responsible Business

In a country like Myanmar, socially responsible business is not a new practice, but it is a new term and a new concept. There are very few large corporations in Myanmar and most businesses are family businesses with majority of them being small to medium size enterprises. Due to the family structure of the business organization, and the interwoven religious practices of the culture in Myanmar, many businesses often engage in charitable giving to the communities, especially in times of crisis. This has been long-standing practice even though the term “socially responsible business” was never in the vocabulary. However, equitable and fair labor practices are still a new concept and practice, and as the country is opening up to the world from decades of isolation, this has started to be in the works. Along with this change, the term socially responsible business has started to be used. However, there is much inconsistency with the usage inside Myanmar. What is Bloom Enterprises’ perspective on this term?

Bloom believes that every human has a value, and that human value is work value and work value is human value. You can read about the essay written by the consultant Su Su Maung at Citta Consultancy, one of our social enterprises. Thus, any work condition has to have humanity and be humane. This means it has to empower those working in and for the enterprise and help them grow their fullest potential. It also means there has to be a well design work flow so that every worker has a valuable role to play. There are three words to this term – social, responsible, and business. All three of them have purposes in this concept. It has to have social impact. It has to be responsible to society, but also to the business. It is a business so it has to be productive and efficient as successful businesses are. All these three components feed into and support each other in their purposes. When all three are working together toward the same shared vision, then it is our stance that we have a socially responsible business.