It is strikingly obvious that a business operates within a complex web of social relationship. A business has to be socially responsible owing to the pressures like changing expectations of stakeholders, restructuring of international business rules, continuous pressure to improve the quality of products and services, ecological imbalances due to business operations, etc. So, the business must have right directions for taking care of the society in which it operates. This study has reviewed practices by enterprises in public and private sector of Bangladesh on rationale, approaches, areas, and contemporary views of CSR according to the opinions of the stakeholders. Moreover satisfaction level on CSR performances, actual reasons for variation in CSR performances, reasons of poor CSR performances have been identified on the sample enterprises. In addition, experiences of CSR performances in developed and developing countries have also been analyzed to compare the progress of CSR in Bangladeshi business enterprise. Finally, relation between CSR and financial performance of business enterprise has been examined in sample firms of both the sectors in Bangladesh.