What is Local Private Companies (Privately Held Company or Close Corporation)

In Asia, as elsewhere around the world, societies have a long history of cultural and religious giving. The idea of business' responsibility to give back to the communities in which they operate is also age old. In many of the countries studied, an alternative discourse encompassing culture, traditional values, and politics provides a socio-economic context and a national backdrop for CSR action. Based on the ten countries studies, key elements that define the practice of CSR in Asian companies are: cultural influences, classical philanthropy, State capacity, participation in global supply chains and home-grown corporate misdemeanors. Culture matters to how societies approach CSR. There are important cultural influences on ideas of “obligation” and “responsibility” that are significant in the Asian context and this is where the Asian discourse on CSR diverge from that in the West.