Corporate social responsibility (CSR) plays a major role in developing the economy of a country. It can be defined as the way in which a company manages various business entities to produce an impact on the society. Companies with high CSR standards are able to demonstrate their responsibilities to the stock holders, employees, customers, and the general public.
The new Companies Bill has mandated that organisations
- Who have a net worth of Rs. 500 crore or more, or turnover of Rs. 1000 crore or more, or a net profit of Rs. 5 crore or more during any financial year a certain financial strength,
- Have to spend 2% of their net profit on corporate social responsibility (CSR),
- In areas, which encompasses much that results in social good. Companies have to disclose how much they spend and where.
Which will lead two things to happen right away:-
- First, the general spend on development projects will shoot up, with more companies having to set aside funds for this.
- Second, with the government keeping tabs, companies will have to become more transparent about what they are investing in, how and where.
|Base lines||In house, ethical, competent|
|Project management||In house, proven, professional|
|Behaviour Change Communication||Tied up with agencies|
|MODEL||Jointly can be developed – PURA integration, stake holder driven, technology enabled, not physical provision based alone- of course this has to be joint in context of your consulting|
|Accounting||Up to the paisa – ethical, will work within defined PM fee as % of project cost|
|Monitoring||Would prefer a concurrent evaluation and impact assessment every 6 months basis|