CSR :MINDING BUSINESS OF BUSINESS

CSR :MINDING BUSINESS OF BUSINESS CA Dr Paras Jain Dr T P Ghule

Corporate Social Responsibility (CSR) • The Business uses five elements : Air , Water, • Earth ,Fire and Space along with human factor which provide the opportunity to business to flourish . • The business has to reciprocate to the society to: • - effectively use the resources, • - conserve the resources , • - replenish the scarce resources • - take welfare measures for the human capital.

This quid pro quo lays down the ground rule i.e. • “the ethical behaviour of a company towards the society,” for building a trustworthy and sustainable relationship with the community at large besides • growing its businesses, • OR simply the Business with Ethics i.e • The Corporate Social Responsibility

CSR DRIVERS

But business of business is to do business and make Profits . • There can be really no business without profits at its core . • Business is NOT charity . It is NOT born out • of NOR exists for philanthropy. • Profits and Responsibility are aliens not allies, foes not friends. • A business professing social responsibility uses it as a tool to legitmise its real business of making money ?

The Enigma : THE CSR • a sunk cost ? • a promotional Cost for brand building ? • a cost to converge with philanthropy ? • voluntary or Statutory ? • Some Pointers : Pharma Prices, Affordable housing, Posco, voluntary conduct, Window Dressing, docotored Accounts

The Imposed CSR

Mine Too !! Respected brother,2 Million Shareholders‘ fight is my Corporate Social responsibility !!

Ecotourism in denuded Amazon Pollution Rule is Quite simple Responsibility is all social PROFITS ARE ALL CORPORATE Global Warming

Corporate governance Á-la Satyam ‘s Raju

CWG Genie

Politics business interface 2G -3G

CSR :MINDING BUSINESS OF BUSINESS