CSR be made integral part of cos core strategy: Study

Written By Unknown on Senin, 01 Desember 2014 | 23.25

The survey said that around 28 percent of companies feel that identifying appropriate social projects and their beneficiaries is a key challenge while implementing CSR programmes.

Corporate Social Responsibility (CSR) should be made an integral part of the core strategy of companies so as to help them identify right social schemes and beneficiaries, a survey said Monday.

The survey said that around 28 percent of companies feel that identifying appropriate social projects and their beneficiaries is a key challenge while implementing CSR
programmes.

Hence, CSR should be made an integral part of core strategic thinking and corporate value creation rather than just a 'tick the box' activity, the survey by Dun & Bradstreet
said.

There is a need to create awareness amongst Indian companies on how CSR can be an extension of good corporate governance, it said.

The recent enactment of the New Companies Act mandates 2 percent compulsory CSR spend from their profit by companies.

"The legislation of CSR is pathbreaking. For a country like India, it represents a leap of faith, and our belief is that the special qualities that the private sector has - efficiency, innovation, ability to carry out projects which can be harnessed through CSR in the social development of our country," said Bhaskar Chatterjee, Director General & CEO, Indian Institute of Corporate Affairs.


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