the deal business mankind corporate social responsibility mahavir international delhi 6550, main...
TRANSCRIPT
THE DEAL
Business Mankind
CORPORATE SOCIAL RESPONSIBILITY
Mahavir International Delhi6550, Main Qutab Road, Nabi Karim, Near Hanuman Mandir, New Delhi - 110 055 [INDIA]
(T) +91 - 11 -2351 0770, 2352 6502 | (M) +91 9910435554(E) [email protected], [email protected]
Corporate Social Responsibility
CSR- Business owes this to the society
‘Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large’. – World Business Council For Sustainable Development
Interpretation(Expectation that business should)
This is what it is
Need of the Hour
Corporate Social Responsibility
Developed countries like Sweden, Norway, Netherland, Denmark, Australia, France has already espouse such practices.
India on the path to be a developed nation should also adopt itself with the same.
IND
IA
Existing
1)Profit Maximization2)Maximizing shareholders wealth3)Reinvesting in the Business
Sudden rise of CSR
Corporate Social Responsibility
CSR-Talk of the Town
Factors
Mandatory under Law
Globalization
Increased Expectations of stakeholders
Awareness of the limits of Government legislative
Awareness of Social and Environmental care
There’s much more to it than we knew !
Myths
CSR initiatives may compriseOpportunity
Benefits• Winning new businesses•Enhanced relationship with Stakeholders•Attracting, Retaining & Maintaining strong workforce•Image Building•Access to funding opportunities•Increased customer retention
•Too complicated and Technical•Too expensive•Mostly a market gimmick•Separate corporate initiative•Whatever being done is enough•Being preventive is enough•CSR is like charity •Just a Piece of Legislation
•Employee Focused Initiative •Market Focused•Product Focused•Environmentally Focused•Society Focused
• Develop people’s confidence in your company
• Strong point of differentiation from competitors
• Gain foothold in the industry• Recognition and support from customers
Corporate Social Responsibility
CSR – Everything that needs to be known
Section 135 of the 2013 Act
Turnover of Rs 1000 Crore or more
Net profit of Rs 5 Crore or more
Net worth of Rs 500 Crore or more
OR OR
Companies Bill -2013
Shall constitute a CSR Committee
Corporate Social Responsibility
Responsibility of the Board
Ensure that the activities are undertaken by the company
Approve the CSR Policy & disclose contents in its report & also place it on the company’s website
Ensure that company spends, in every financial year, at least 2% of the average net profits made over 3 preceding years
Schedule VII (Activities Covered)
Surplus arising from the
CSR programmes /activities
shall not form part of
business profits.The CSR Activities must be
within India and also apply on
foreign companies registered
here
Failing to spend on CSR under the 2 Percent Formula, a company and its officers are subject to liability for not explaining such a failure in the report
of the board of directors.
Discretionary
Power in the
hands of
bureaucracy
Draconian
Law
CSR in India is dominated by the philanthropic approach rather than a collaborative approach
If the 2 percent allocation is not made in a given fiscal year, the CSR committee has to submit an explanation to avoid being penalized
Flaws in Laws
If Project cost is higher, then one or more companies can join hand.
Experience and exposureRequisite infrastructure and resourcesSuitable ManpowerWork CultureDedication (Main Stream)
Health Care FacilitiesHealth Care Facilities
Experience and exposureRequisite infrastructure and resourcesSuitable ManpowerWork CultureDedication (Main Stream)
Trust & Credibility
Transparency
Proven Track Record
Highly Professional Think Tank having passion to serve
Moto : ” Serve All Love All ”
Service with Smile
Approach to Deliver
Comprising Bureaucrats, IAS, IPS,
IRS, IC&CES, DANICS,
Doctors, Professionals, Industrialists, Social
Workers, Administrators.
