Chairman and Managing Director of Vishvaraj Infrastructure Limited (VIL India) Mr. Arun Lakhani says as a social entrepreneur, I always believed being socially responsible and having a business that not only improves India’s progress but also benefits the citizens of the nation is extremely important. Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship or responsible business) is an outline of corporate self-regulation incorporated into a business model. CSR policy functions as a self-regulatory mechanism whereby a business monitors and ensures its active conformity with the spirit of the law, ethical standards and national or international norms.
Power point presentation on enterprise performance management
Corporate Social Responsibility (CSR) And Arun Lakhani
1. Corporate Social Responsibility (CSR)
And Arun Lakhani
Chairman and Managing Director of Vishvaraj
Infrastructure Limited (VIL India) Mr. Arun Lakhani
says as a social entrepreneur, I always believed
being socially responsible and having a business that
not only improves India’s progress but also benefits
the citizens of the nation is extremely important.
Corporate social responsibility (CSR, also
called corporate conscience, corporate
citizenship or responsible business) is an outline
of corporate self-regulation incorporated into
a business model. CSR policy functions as a self-
regulatory mechanism whereby a business monitors
and ensures its active conformity with the spirit of
the law, ethical standards and national or
international norms.
With some models, a firm's execution of CSR goes
beyond compliance and engages in "actions that
2. appear to further some social good, beyond the
interests of the firm and that which is necessary by
law." The aim is to increase long-term profits and
shareholder trust through positive public relations
and high ethical standards to reduce business and
legal risk by taking responsibility for corporate
actions. CSR strategies encourage the company to
make a positive impact on the environment
and stakeholders including consumers, employees,
investors, communities, and others.
CSR is titled to aid an organization's mission as well
as serve as a guide to what the company represents
for its consumers. Business ethics is the part
of applied ethics that examines ethical principles and
moral or ethical problems that can arise in a business
environment. ISO 26000 is the recognized
international standard for CSR. Public sector
organizations (the United Nations for example)
adhere to the triple bottom line (TBL). It is widely
accepted that CSR adheres to similar principles, but
with no formal act of legislation.
3. It’s ‘People’- the fourth P that makes the critical
difference to PPP (Public –Private Partnership). Ever
since the Indian economy was opened and the
process of liberalization was set in, various private
players added their might partnering with public
enterprises in various sectors. PPP as a concept on
paper brings in very good synergy of Private
enterprise efficiency with Public ownership of assets.
But in reality we see a trust deficit between the vital
stakeholders, People on one hand and Government &
Private 30 years can be a risk unless people are on
boarded.
Our answer to this situation is Involve / Integrate the
Fourth P – People – citizens in the PPP Model
enhancing its credibility. PPP can be very successful
if the fourth P- People are integrated in the structure
with openness and responsibility of communicating
with larger masses. People as largest stakeholders in
any PPP must participate to monitor the contracts
done between the two Ps. In the current context
taking ‘People’ on-board with open communication &
transparency is a business imperative for the Private
Partner rather than a CSR initiative. Nagpur 24x7 and
Nagpur 200 MLD STP Treatment and Reuse started
out as business models but they have the essence of
4. CSR as people were involved in the projects and their
opinions were taken into consideration for the growth
and development for the Water and Waste water
projects.
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