CSR in India: Opportunities & Challenges : CSR in India: Opportunities & Challenges Presented By:
Ms Monika Gulia
Shri Balwant Group of Institutions Meaning of CSR : Meaning of CSR CSR is the responsibility of enterprises for their impacts on society and outlines what an enterprise should do to meet that responsibility. Objectives of CSR : Objectives of CSR To maximize the creation of shared value which means to create ROI for company’s shareholders as well as benefits for stakeholders.
To identify, prevent and mitigate possible adverse impacts which enterprise may have on society. Importance of CSR : Importance of CSR It acts as a driver for the development of new markets and creates real opportunities for growth.
It helps enterprises in building long term employee, consumer and citizen trust as a basis for sustainable business models Challenges to CSR in India : Challenges to CSR in India Lack of community participation in CSR activities
Issues of transparency
Need to build local capacities
Non-availability of well organized NGO’s
Non-availability of clear CSR guidelines
Narrow perception towards CSR initiatives
Lack of consensus on implementing CSR issues
Visibility factor Conclusion : Conclusion In today’s scenario CSR is the basic necessity for every business if it wants to enjoy the sustainable position in the market.
But still there are some issues that a business has to face while initiating CSR activities. Recommendations : Recommendations Steps should be undertaken to address the issue of building effective bridges among all important stakeholders for successful implementation of CSR initiatives
There should be involvement of SME’s in implementation of CSR activities
Awareness should be created among the general public regarding CSR
Rural areas should be given due importance along with the urban areas when CSR initiatives and programmes are taken up.
Rewarding the corporate houses by Government who initiates the CSR activities
CSR as a subject should be made compulsory at business schools Thank You : Thank You