9 csr & competitiveness march 2014

Page 1

Year 01

Issue 9

March 2014

LEVERAGING

CORPORATE SOCIAL RESPONSIBILITY FOR

COMPETITIVE ADVANTAGE Full Article on Page Nos. 13 - 17

NEWS

Coal India to Recruit 120 CSR Officers

ARTICLE

Charity, Philanthropy, Nation-Building & CSR A Historical Perspective: Prabhu Guptara

INTERVIEW

We Prepare Business Leaders Who Care for People and Planet: Dr. Harivansh Chaturvedi, Director, Bimtech



EDITORIAL

CSR Enhances the Brand Value

RUSEN KUMAR Editor & Director rusenk@indiacsr.in The CSR programs have to be seen as an opportunity to enhance the brand image of the organisation and to deliver high quality service to the community as a part of social-service initiatives and become a major contributor in the process of nation building and simultaneously ensuring overall compliance of the regulatory expectations.

CSR in India has been changing a lot of new dimensions. In the times to come it is likely to create a lot of job opportunities for youngsters in our country. Corporate entities in India are focusing on CSR not because the ministry has compelled to do it but also because of all intentions and focus. The companies are now expected to be innovative not only in terms of their products and services but also in terms of their planning, implementation and control of the CSR models and initiatives. The changing times have been posing new challenges every day and the most important challenge which the HR department is going to face is in terms of creating a dynamic workforce in the field of CSR. The challenge of talent acquisition and talent retention is likely to become hotter than launching a new product to acquire and sustain the market share in the domestic and international market. The organisations are required to ensure that a robust planning implementation and control mechanism is evolved to ensure that the financial reporting of the CSR activities is done in a fair and transparent manner on an ongoing basis failing which the regulatory bodies are likely to create big concerns in the times to come. The secret of success for the organisations in modern times is likely to be not just excellent products and services but also achieving excellence in the area of Business responsibility and ensuring that the achievements of CSR is optimally communicated to the various stakeholders by leveraging the integrated brand communications. The process of evolving a successful CSR model for an organisation shall be an integrated approach by integrating the views of the employees, customers, staff and various other stakeholders along with the expectations of the local residents of the society. The growth trajectory of the organisation in the modern times would be a function of the quality of the product and services and the quality of the CSR model optimally integrated with the quality implementation of the CSR model and its programs. The top echelons of the leading corporate entities are required to visualise, analyse and realise the potential of CSR and the way it can give a catalytic boost to the brand image of the organisation. The CSR programs have to be seen as an opportunity to enhance the brand image of the organisation and to deliver high quality service to the community as a part of social-service initiatives and become a major contributor in the process of nation building and simultaneously ensuring overall compliance of the regulatory expectations.

CSR & COMPETITIVENESS 03 MARCH 2014


EDITORIAL

Making Planet a Better Place to Live

DR. RANA SINGH Executive Editor ranasingh@indiacsr.in The step to include ecological balance, protection of flora and fauna, animal welfare, agro-forestry, conservation of natural resources and maintaining quality of soil, air and water by the corporate affairs ministry is highly commendable. This will help the society in managing the ecological balance and making the planet a better place to live for living beings.

Healthcare is becoming an important focus area by the central government, the corporate entities and various other state governments. The new companies law stipulates that the activities undertaken by corporates to promote healthcare will be considered as social welfare activity has opened the floodgate of opportunities to the corporate world in the area of healthcare. Needless to mention that the healthcare facilities in India still needs to go a long way to deliver quality and diversified services to the various strata of the society. The Schedule VII of the notification notified recently, mentioned that “eradicating hunger, poverty and malnutrition, promoting preventive healthcare and sanitation and making available safe drinking water�, among others would come under the CSR ambit. These new areas that have been brought under the ambit of CSR poses new set of challenges and opportunities to the corporate world. The organisations focusing on preventive healthcare will be contributing in a big way to the health of people by bringing to light the various risk dimensions of various diseases by multi dimensional profiling of diseases so that the patients get an advanced signal of the probable risk of diseases. This will help in extending the healthcare facilities to various strata of the society thereby bridging the social inequalities and shall also enhance the life expectancy rate and minimise the mortality rate in the rural and semi urban areas. The step to include ecological balance, protection of flora and fauna, animal welfare, agro-forestry, conservation of natural resources and maintaining quality of soil, air and water by the corporate affairs ministry is highly commendable. This will help the society in managing the ecological balance and making the planet a better place to live for living beings. This also creates an opportunity for the corporate entities to focus on maintaining and sustaining ecological balance in their respective geographical areas. The rapidly changing regulatory environment is creating new sets of challenges and opportunities to the corporate world along with an ever growing challenge of re-aligning the CSR strategies, policies, programmes and models dynamically aligned with the expectations and regulations of the regulatory bodies and the government. I wish good luck to all CSR professionals in their mission to achieve success.

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TEAM / INDEX CONTENTS

Editorial Board Rusen Kumar Editor rusenk@indiacsr.in Dr Rana Singh Executive Editor ranasingh@indiacsr.in Anil Jaggi Executive Editor anil@indiacsr.in Dr (Prof.) Saurabh Mittal Sub-Editor, New Delhi saurabh@indiacsr.in Triambak Sharma (Renowned Cartoonist) Editor-Cartoon D.D. Mishra (Disability & Development Consultant) Associate Editor dd@indiacsr.in Advisory Board Jatinder Singh Secretary- Innovation, CSR, Education & Skill Development Committee PHD Chamber of Commerce and Industry Rani Wemel Co-Founder & COO LTT Global Communications Sdn. Bhd., Malaysia Vijay Shekar Peesapati Country Director (India) MyMobileUni Sdn Bhd-Global Dr Sanjay Kumar Singh Associate Prof. & HOD-Humanities OP Jindal Institute of Technology Vijay Kapur Eminent CSR Consultant & Author Director – Kohana CSR

Pages No.

Advertisement: Get Recognized Your Innovative CSR Project

02

Editorial: CSR Enhances the Brand Value

03

Editorial: Making Planet a Better Place to Live

04

Team / Index

05

WWF-India Joins Hands with Tata Housing to Save Snow Leopards

06

Coal India to Recruit 120 Officers for CSR Initiatives

07

Global Conference on CSR on 16-17 April

07

Emco Foundation Making a Difference in Students

07

BIMTECH: PG Diploma in Sustainable Development Practices Admission Open

08

GMR group organizes conclave on CSR in Raipur

08

PRSI organizes CSR workshop at Institute of Neurosciences

08

National conference on Fly Ash management in Raipur on June 11, 2014

09

Naveen Jindal hoists Tiranga at highest monumental flagpole in Delhi

10

Sesa Sterlite fulfilling the dreams of students in Kalahandi

11

Aneel Murarka, a philanthropist with a difference

12

C.B. Bhattacharya: Leveraging Corporate Social Responsibility for Competitive Advantage

13

Interview with Dr. Harivansh Chaturvedi Director, BIMTECH: We prepare business leaders people and planet

18

Bhavna Sethi: CSR – An essential strategic reputation management tool

20

Larry Taylor: independent corporate directors must unite in effort to monitor the ‘tone-at-the-bottom’

23

Aparna Venkatachalam: The 2% CSR levy on India Inc.

26

Prabhu Guptara: Charity, Philanthropy, Nation-Building & CSR- a Historical Perspective

28

Event: Shikhar organizes CSR Summit in Mumbai

30

Enakshi Sengupta Eminent CSR Consultant & Author Director – Kohana CSR

Arun Kumar Arya: Project: A commitment from conception to commission

31

Prof BD Singh Renowned Academician & Author

Book Review: Emote- using emotions to make message memorable

32

Subscription Form of CSR & COMPETITIVENESS

33

Advertisement: CSR & COMPETITIVENESS

34

Advertisement: Samabhavna Sociecty

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Dr K K Upadhyay Head CSR-Ficci Aditya Birla CSR Centre of Excellence Monaem Ben Lellahom Co-Founder & Head of Sustainability Advisory Services Sustainable Square Consultancy and Think Tank UAE Editorial Office CSR & COMPETITIVENESS 222, Krishn Vatika, Near Shalini School, Church Road, Boirdadar, RAIGARH-496001 (CG) csrcompetitiveness@gmail.com Advertisement/Circulation/Subscription enquiries 222, Krishn Vatika, Near Shalini School, Church Road, Boirdadar, RAIGARH-496001 (Chhattisgarh) P: 99810 99555, 73897 70011 E: info@csrcompetitiveness.com Northern Region Office 24/1-2 Circular Road, Dalanwala Dehradun248001, Uttarakhand, E: anil@indiacsr.in P: 94120 09273

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CSR & COMPETITIVENESS 05 MARCH 2014


NEWS

WWF-India Joins Hands with Tata Housing to Save Snow Leopards Through the SOS campaign, WWF-India along with Tata Housing will build awareness about the conservation issues facing the snow leopard and aim to raise at least Rs 15,00,000 through the crowd funding platform. MUMBAI: WWF-India joins hands with Tata Housing to save snow leopards and unveils the first ever crowd funding campaign for species conservation in India. In a significant step towards garnering more support and awareness for snow leopard conservation in India, WWFIndia in partnership with Tata Housing Development Company launched project Save Our Snow Leopards (SOS) by unveiling the SOS online crowd funding platform (www.wwfindia.org/sos) at an event at the WWF-India auditorium on January 10, 2014. The SOS crowd funding campaign is the first-ever crowd-funded campaign for species conservation in India, giving individuals a chance to support and directly fund conservation projects. Through the SOS campaign, WWF-India along with Tata Housing will build awareness about the conservation issues facing the snow leopard and aim to raise at least Rs 15,00,000 through the crowd funding platform. The funds raised will be utilized to scale up WWF’s snow leopard conservation projects such as setting up camera traps to study the exact status and distribution of snow leopards in range states and support the construction of predator-proof livestock pens for local communities in snow leopard habitats that will help in managing snow leopard-human conflict. The campaign will be spearheaded jointly by both organizations and reach out to potential supporters through social and other online media. Tata Housing will also reach out to the Tata group of companies soliciting support for the SOS campaign through ‘Green Guardians’, an employee engagement initiative. Tata Housing Development Company,

the biggest proponent of green housing in India, became a WWF-India conservation partner in 2012. Tata Housing has also worked with WWF-India to refine their Sustainability Charter, which outlines their commitment towards following environmental sustainability practices in housing development. Brotin Banerjee, CEO and Managing Director, Tata Housing Development Company said, “At Tata Housing, we feel it is important to maintain the ecological balance of natural flora and fauna in the environment along with creating sustainable green development that help to prevent environmental degradation caused by facilities and infrastructure created throughout their life-cycle. Our partnership with WWF-India is in line with our efforts to safeguard and conserve India’s unique natural heritage of high altitude wildlife populations and their habitats. We hope our efforts to save the snow leopard will result in maintaining the required ecological balance.” Speaking on the necessity of such steps in snow leopard conservation, Ravi Singh, Secretary General & CEO, WWF-India said, “Snow leopards are strikingly beautiful, but sadly very few people are even aware of their existence. Due to the high altitude and difficult terrain they inhabit, snow leopards are also one of the least studied large wild cats, which in turn makes their conservation all the more difficult. By protecting the snow leopard, we ensure the conservation of our fragile mountain landscapes that are one of the biggest sources of freshwater for the Indian subcontinent. We hope this campaign will not only raise the required funds for the snow leopard, but also make people more aware about this magnificent species.” Through Project SOS, both WWF-India and Tata Housing will

CSR & COMPETITIVENESS 06 MARCH 2014

continue to work with the central and respective state governments to assess the status and distribution of snow leopards and strategize conservation actions.

Form IV (See Rule B) CSR & COMPETITIVENESS 1. Place of Publication 2. Periodicity of Publication 3. Printer’ Name Nationality (a) Whether a citizen of India (b) If a foreigner, the country of Origin Address

4. Publisher’s Name Nationality (a) Whether a citizen of India (b) If a foreigner, the country of Origin Address

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: Raigarh : Monthly : Rusen Kumar : Indian : Yes : XXX : 222, Krishna Vatika, Near Shalini School, Church Road, Boirdadar, Raigarh 496001 (Chhattisgarh) : Rusen Kumar : Indian : Yes : XXX : 222, Krishna Vatika, Near Shalini School, Church Road, Boirdadar, Raigarh 496001 (Chhattisgarh) : Rusen Kumar : Indian : Yes : XXX

: 222, Krishna Vatika, Near Shalini School, Church Road, Boirdadar, Raigarh 496001 (Chhattisgarh) 6. Name and address of individuals : Rusen Kumar CSR India Corporate Social who own the newspaper and Services Pvt Ltd, 222, partners or shareholders holding more than one percent of the total Krishna Vatika, Near Shalini School, capital : Church Road, Boirdadar, Raigarh 469001 (Chhattisgarh) I, Rusen Kumar, hereby declares that the particulars given are true to the best of my knowledge and behalf.

Date: 01.03.2014

Sd/Rusen Kumar Publisher


NEWS

Coal India to Recruit 120 Officers for CSR Initiatives Coal India and its 8 subsidiaries will be spending around Rs 300 crore in 2014-15 on CSR activities. This could be spread over the company's 85 mining regions.

Coal India, the world’s biggest coal miner, has decided to raise a new cadre of officers who will oversee the company’s corporate social responsibility (CSR) initiatives. Top executives at the state-run miner told that its board had at its last meeting cleared the proposal to recruit about 120 officers in the CSR cadre this year. This is the first time that such a large team is being organised for CSR activities in any private or public sector company in India. Most public sector companies source officers from other departments and depute them on ad-hoc basis at CSR units. The CSR teams are also not so big, For example, the CSR team at Indian Oil Corporation has about 20 people. “The sheer size of Coal India’s fund for CSR and the area over which it has to be spread requires dedicated officials, who would oversee the quality of the projects being

undertaken and the funds being spent for the job,” said a senior Coal India executive. Coal India and its 8 subsidiaries will be spending around Rs 300 crore in 2014-15 on CSR activities. This could be spread over the company’s 85 mining regions. The new companies law makes it mandatory for companies of a certain financial strength to spend at least 2 per cent of their average net profit over three years on CSR. Until now, Coal India was not taking up CSR projects on its own. It had restricted its involvement mainly to funding non-government organisations, whose CSR projects were approved by the Coal India board. “CIL’s CSR projects always runs into crores. For example, we have lined up a project in Purulia, where 40 villages will be adopted by CIL and projects like sanitation, medical benefits, infrastructure will be provided at a cost of Rs 29 crore. We are also setting up an IIIT with the West Bengal government,” the executive quoted earlier said. But Coal India wanted to develop its own CSR team, he said. “This has been our demand for some time now. We wanted a dedicated team of officials with education

Global Conference on CSR on 16-17 April Samabhavana Society, an ISO 9001:2008 registered Not-for-profit has thus taken the initiative to begin the second phase of the Global Conference on Corporate Social Responsibility, with support from IBM and under the aegis of the Indian Institute of Corporate Affairs. Samabhavana is laying em-phasis on ensuring the NGO- Corporate connects which was felt need during the 3C Training Pro-gram organised across India and taking it from there, endeavour is create a meaning full platform for synergising the process. The Company Bill, 2013, Section 135 has created an environment where businesses have to accept and embrace the idea of

sustainable development and companies are not just expected but are increasingly being mandated to take responsibilities of the impacts they are making on society and the environment. This brings Corporate Social Responsibility to the forefront with equal emphasis and im-portance as any other core area of businesses and we strongly believe that this is going to be a Golden Era for Civil Society organisations. The conference is taking place in Mumbai, Maharashtra on 16-17 April 2014 at The Westin Hotel, Goregaon. For Registration Please log on: www.globalconferenceoncsrindia.org

CSR & COMPETITIVENESS 07 MARCH 2014

background and experience in community development, so that we could take up CSR activities effectively,” he said. The executive said the officers being recruited will be posted in each of the mining areas of Coal India and they will oversee the projects being undertaken by the NGOs. The move to raise a CSR cadre comes after the government pulled up the company for not spending its CSR funds effectively in 2011-12. The company had managed to spend only about 15% of the funds earmarked for CSR during the year. In a report, the Kalyan Banerjee led standing committee on coal and steel had said that out of an allotment of Rs 554 crore for the year, Coal India could spend only Rs 82 crore, terming it a ‘gross failure’. The committee said although the coal ministry replied that they have intentions to spend the money for CSR activities, in reality, it seems that they do not have a serious intention to spend it. The government has also pointed out that the officers-in-charge of spending money on CSR activities must be made accountable for the failure to spend the CSR budget. (Economic Times)

Emco Foundation Making a Difference in Students MUMBAI: The 6th edition of EMCO Foundation’s Project Parivartan Convocation programme was held at Gadkari Rangyatan on Feb 21, 2014. Parivartan is an personality development programme conducted for TMC students to bring about change in the life of students. Swati Salunkhe, Managing Director, Growth India Pvt Ltd was the Chief Guest, who shared few of her real life experiences to motivate the TMC students and encouraged students to work hard in life. In today’s scenario companies are looking for raw talent and the project parivartan is designed taking into consideration various factors to give the municipal school students a battle chance against all odds. The topics covered in the project are development of self esteem, communication skills, habits, time management, goal setting, reading and writing, presentation skills etc.


NEWS

BIMTECH: PG Diploma in Sustainable PRSI Organises CSR Development Practices Admission Open NEW DELHI: Birla Institute of Management Technology (BIMTECH), Greater Noida invites applications for admission in two years full-time Post Graduate Diploma in Management (Sustainable Development Practices) program. This program is approved by All India Council for Technical Education (AICTE) and running in partnership with MDP Global Network of Earth Institute, Columbia University (USA). The program is designed to address current and future needs of corporate and development sector. It offers focused courses in Management, Corporate Social Responsibility, Sustainability Measurement Tools, Sustainable Business Models, Health Economics, Environment Management and Climate Change, Social Science Consulting and Business Modeling, Project Management, Green Supply Chain Management, Financial Inclusion, Social Research Methods and Report Writing, Monitoring Evaluation and Social Audit, Community Investment and Strategy, Legal Aspects of Sustainability, Agribusiness etc.

BIMTECH is one of the premier management institutes in the country and has been a pioneer in launching two years full-time management program in sustainable development. SELECTION PROCEDURE: CAT/MAT/XAT/CMAT/GMAT and other prominent national/international level management exams, GD/PI+Write-up. ELIGIBILITY CRITERIA: Any Graduate with 50% marks, candidates having work experience will get an additional consideration. TO APPLY: Application form is available online http://bimtech.ac.in/online_admission/ LAST DATE TO APPLY: March 29, 2014. For admission related queries prospective candidates may also contact: Anshuman Srivastava, Program Manager anshuman.srivastava@bimtech.ac.in, or on Mobile: 09873788681

Workshop at Institute of Neurosciences

KOLKATA: Public Relations Society of India - Kolkata Chapter organized CSR workshop on ‘Corporate Social Responsibility – Towards a Sustainable Future’ on February 18, 2013 at Institute of Neurosciences, Kolkata. The programme aimed to enhance social responsiveness of Corporates, individuals and NGOs, imbibe the sense of giving among the leaders and inculcate the idea of CSR through the academia. The emphasis of the Workshop laid on how technology, analytics and academics can be imbibed within Corporate Social Responsibility. Speakers at the Workshop included Malaysia based CSR Consultancy group – Kohana and Kolkata based Social Analytics company –Business Brio.

GMR Group Organizes Conclave on CSR in Raipur RAIPUR: GMR Chhattisgarh Energy Ltd. (GCEL), setting up power plant near Raipur, organized a one day conclave on February 21, 2014 addressing issues on safety and community services. Professionals from about fourteen industires in the cement and power sectors located in and around Raipur gathered to share some of their ‘Best Practices’ being followed in the fields of Safety and Community service. SK Mishra, Dy CEO Godawari Power & Ispat Ltd and SR Singhvi, Joint Vice President, Shree Raipur Cement, were the session chairman for safety and community services themes respectively. Over the last decade issues relating to safety and community Services have become an increasing concern to the business world. Through this session the importance of organizations’ setting up Corporate Social Responsibility projects and the impact these have on society were

discussed at length. The importance of developing a safety culture through Behavioural safety and Self-regulation is an absolute must and needs to be further developed not only within the boundaries of the Factory but beyond - in our day to day life also. Naveen Srivastava, General Manager, GCEL expressed his thoughts to create a common platform whereby some common challenges being faced by the Industries can be addressed in a more structured manner. To this thought, there was a concurrence among all the participants who decided to take this forward. Meena Raghunathan, Director, Community Services GMR Varalakshmi Foundation expressed her desire to provide a platform to the project affected villagers of various industries who have been trained, to market and sell the products being made by them. Executive Vice President, GCEL, Anil

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Pro-fessionals from about fourteen industires in the cement and power sectors located in and around Raipur gathered to share some of their ‘Best Practices’ being followed in the fields of Safety and Community service.

Kumar Jain also expressed his views and moving a step forward, emphasized on ‘Responsible Self’ where every individual should behave responsibly and put their hands forward for those who are under privileged. The conclave was followed by an outdoor session whereby all participants were taken to witness the various safety and quality measures being followed by GCEL during the construction phase.


EVENT

National Conference on Fly Ash Management in Raipur on June 11, 2014 RAIPUR (Chhattisgarh): CSR India Corporate Social Services Pvt Ltd (CSR India) in association with INDIACSR, India's largest Corporate Sustainability & Responsibility news network, will organize a day-long 2nd National Conference on Fly Ash Management, the compelling issue that necessitates prompt focus and concern, in Raipur, the capital city of Chhattisgarh state, on June 11, 2014. Last date of Registration is May 15, 2014. The theme of the Conference is Fly Ash: Wealth from Waste. The mega symposium, will delve at length on the disposal and effective utilization of fly ash and to what extent the fly ash management has taken strides in India over the past few years. The emphasis of the Conference is aimed to provide a forum for the producers and the prospective consumers of Fly Ash along with the policy-makers and other stakeholders to talk about opportunities for maximum utilization of Fly Ash. Conference will incorporate significant talks and discussions addressing all pertinent issues relating to fly ash including regulation, disposal challenges and practical methods of fly ash management.”, Rusen Kumar, Director, CSR India said. “The Conference will bring forth valuable information and knowledge on wider applications of fly ash for the flyash generating industries and those sectors who are the users for better fly-ash management in Chhattisgarh”, he added. The speakers, who are the industry's best, acquainted with sound understanding, study and rich experience is being invited to share and enlighten the eminent gathering. Listening to these speakers would not only be a sheer delight but would facilitate realization of facts with knowledge sharing and better insight on the issue that has emerged as one of utmost importance. The encouraging support from all the corners of the organizations to organize this event

has been quite inspiring. It gives pleasure to inform that some of the well known personalities from corporate, academics & research institutes have kindly consented to be part of this occasion to discuss their observations, achievements, case studies and researches.Sustainable management and disposal of fly ash is becoming challenging job for Power plant producers across India. Fly ash can become a wealth generator by making use of it for producing 'green building' materials, roads, agriculture etc. It is estimated that full utilization of the generating stock will provide employment potential for three hundred thousand people and result in a business volume of over Rs 4,000 crore. About the theme Fly Ash being considered a waste few years back, has converted itself into wealth, as a usable, valuable resource by establishing viable avenues for Fly Ash management. Previously Fly Ash was looked upon as a industrial waste and a pollutant. The perception has undergone considerable change over the past few years. Now Fly Ash -a ‘waste material’ considered a ‘resource material’. Fly Ash is now also being used as an admixture for structural mortar and concrete, for making bricks, blocks, filling of mines, making of embankments etc. Alternative building materials for construction industry for manufacture of items like doors, flooring tiles, false ceilings, etc have been developed using Fly Ash. Last year event: Mega Confrence Frb 17, 2013 Last Year Participating Organizations: Last year in Feb we organized very successful mega conference in Raipur. Here are detail of participant organizations. National Institute of Technology- Raipur, NTPC Limited, Indira Gandhi Agriculture UniversityRaipur, Council of Scientific and Industrial Research (CSIR)- National Metallurgical Laboratory-Jamshedpur, Rio Tinto India, Advanced Materials & Processes Research Institute- CSIRI-

CSR & COMPETITIVENESS 09 MARCH 2014

Sponsorship, Speakership and Partner-ship opportunities are available. Expression of interest can be addressed to Rusen Kumar, 9981099555 conference@indiaflyash.com

Bhopal, Central Road Research Institute, Indian Cement Review, Shree Cement Ltd, Eco Ventures Pvt Ltd, Biltech Building Elements Ltd, Sand Plast India Ltd, Eco Bricks Pvt Ltd, Monnet Power Company Ltd, Reliance Coal Mines, Jayaswal NECO Industries Ltd, Wardha Power Company Ltd, Adani Power Maharashtra Ltd, Godawari Power & Ispat Ltd, Lafarge India, Moser Baer Projects, Bharat Aluminum Company Ltd, Jindal Steel & Power Ltd, Jindal Power Ltd, Monnet Ispat and Energy Ltd, Korba West Power Company Ltd, Nalwa Steel & Power Ltd, GMR Chhattisgarh Energy Limited (GCEL). Last year distinguished experts/ scientists/speakers Dr. S. Murali (M.Tech., Ph.D.), Sr. Scientist, Advanced Materials and Processes Research Institute (CSIR)Bhopal; Dr. Sanjay Kumar (Ph.D-Ceramic Engineering), Principal ScientistResource, Energy & Environment, National Metallurgical LaboratoryCouncil of Scientific & Industrial Research-Jamshedpur; Sudhir Mathur, Head-Geotechnical Engineering Division, Central Road Research Institute-New Delhi; Dr. Hishmi Jamil Husain, Environment Superintendent, Rio Tinto India; Navneet Jagatramka, Editor Ispat Times Group; IM Loya & Dr. A.M. Rawani, Technology Transfer and Adoption of Innovations, National Institute of Technology Raipur; Rajdeep Chowdhury, Biltech Building Elements Ltd, New Delhi; Dr KK Sahu, Sr-Scientist, Indira Gandhi Agriculture University Raipur; Mahmood Pracha, Supreme Court Advocate-New Delhi; Arun Manglik, CEO-Eco Bricks Pvt LtdNew Delhi; Rusen Kumar, Director, CSR INDIA


NEWS

Naveen Jindal Hoists

Tiranga at Highest Monumental Flagpole in Delhi

NEW DELHI: Naveen Jindal, Chairman of JSPL Group, Member of Parliament and President of the Flag Foundation of India, hoisted the largest flag in the country and highest flagpole in Delhi, measuring 207 ft. in height, at Central Park in Connaught Place on March 7, 2014. The hoisting of mammoth sized flag at Central Park ispart of Flag Foundation of India's initiative to inspire Indians to take pride in displaying the National Flag and instil sense of nationalism and patriotism among the citizens of the country. Speaking after the hoisting, Naveen Jindal, Member of Parliament& President of the Flag Foundation of India said, “The Tiranga enshrines the very soul of our Republic and Constitution, and is evocative of the tireless struggle of lakhs of people who sacrificed their lives for the country's freedom. Thus, it has been a constant endeavour of Flag Foundation of India to inspire young Indians to take pride in displaying the Tricolour. It is for the younger generation of today to keep the flag flying high, keeping in mind the principles the flag stands for. I am very happy that Delhi has got its first monumental flag today and this is the 12th amongst the 207 ft. monumental flag in the country.” “Connaught Place (CP) is an iconic area in the Capital and the Central Park its landmark. Aesthetically landscaped and designed, the Central Park was our obvious

choice to hoist Delhi’s tallest flagpole as it will add colour to the skyline of CP. at a height of 207 ft., it will be visible from afar and make you feel proud of being an Indian. A visit to the Capital is incomplete for any tourist without visiting Connaught Place and the monumental flag will become a future tourist attraction.” The monumental flag is made of knitted polyster fabric called ‘Deneir Polyester’ manufactured in Mumbai by the ‘Flag Shop’. The Chakra of the flag has been painted by using specialized printing process. The concept of monumental flagpoles in India was conceived and introduced by the founder of the Flag Foundation, Naveen Jindal, in 2009. The first monumental flagpole measuring 207 ft. in height was installed at Kaithal, Haryana. Ever since, the Foundation has installed such flagpoles at 12 places in the country. The Monumental Flags are not lowered even at sunset as they are adequately illuminated. This comes after a policy decision by the Ministry of Home Affairs on 23rd December 2009, which allowed the National Flag to fly day and night on a pole of a height of 100 ft. and above with proper illumination. Flag Foundation of India has so far established thirty-three 100 ft. tall flagpoles across the country, and in all there are now 46 such monumental flagpoles, which is the highest number in the world. Besides India, there are 11 more countries,

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Hoisting of Delhi’s highest Monumental flagpole done aspart of Flag Foundation of India's initiative to inspire Indians to take pride in displaying the Tiranga and instill sense of nationalism and patriotism among the citizens of the country which have got such monumental flagpoles. Normally, flags are hoisted on small poles of 20 ft. which go unnoticed. However, in the case of monumental flagpoles, they are on a pole of more than 100 ft.in height and hence they cannot be overlooked or go unnoticed. It is the sheer size and giant dimension that makethem monumental, invoking a sense of nationalism and patriotism.


NEWS

Sesa Sterlite Fulfilling the Dreams of Students in Kalahandi Pre Schooling Centers Set For Better Education LANJIGARH (Odisha): Sesa Sterlite Ltd, a Vedanta Group company, has created several child care centers with pre-schooling equipment and teachers in Kalahandi district of Odisha. Under its Balshakti Project Company have been associated and covering about 500 centers Anganwadi Workers Centers in Rayagada districts. Previously the area is badly known for malnutrition and poverty. Quality food was a dream of the school going children and as a result school dropout has been increased. Towards minimizing the School dropout in the region and ensuring quality and nutritious food as well as education to the students, Sesa Sterlite has set up a Mid Day Meal (MDM) center, the centralized kitchen at the cost of Rs 3 crores in association with School and Mass education, Govt of Odisha and Naandi Foundation, a reputed NGO. The MDM Center has been serving nutritious and quality food to 18,000 students per day. Company has been bearing the transport cost for sending the meals to schools around the Lanjigarh block and has also arranged lifters to inaccessible pockets. Towards ensuring advanced technology, the company has provided Computers to 20 SSD (ST & SC Development) schools in Rayagada and Kalahandi districts in Odisha. Keeping in mind about the youths, Sesa Sterlite has also opened several com-

DR. MUKESH KUMAR COO & President Sesa Sterlite Ltd

Sesa Sterlite is a responsible company and always has been given priority to the development of the area in term of Education, Health, Livelihood & infrastructure. Company has always been trying to provide better education.

puter Literacy Program centers at Bissam Cuttack, Muniguda, Ambadola, old Ambadola, Therubali, Biswanathpur, and Lanjigarh . Company has also established a DAV Vedanta International School with experienced teachers and modern facilities for the students of peripheral areas from 50 km i.e. Lanjigarh, Muniguda, Biswanath-pur, Ambadola, has been providing transport facilities and quality education. Now the strength of School is about 700, starting initially from 6 students. DAV Vedanta School has also been awarded with PRAKRUTI MITRA award in this year. And the students are also participating several state and National level competitions. Now the dream came to true. Except this company has also sponsoring the students for higher study and encouraging the meritorious students with laptops since last 6 years with Gyanshree awards.

Providing Quality Education to 15,000 Tribal Students A dream of hundred students of Rayagada district came to true only after they studied in Kalinga Institute of Social Science (KISS) at Bhubaneswar. Two years ago, neither they have stepped at district head quarter, nor they stepped at block head quarter, but have aimed to go Capital of state of Odisha. But the children have their dream to study well with all facilities. Only Poverty was a matter of question? Unexpectedly one programme has been started with the initiative of Odisha Police as NUA MANA NUA SAPANA, aiming to give quality education with quality and notorious food and boarding facilities to the tribal students of the region. During that time, Sesa Sterlite showed its interest to spo-

nsor the study of hundreds deprived tribal students of Rayagada district. KISS is a renowned and reputed school with experienced teachers and having with all modern facilities, providing quality education to more than 15,000 tribal students in its own campus. KISS made the tie up with Vedanta for sponsorship of students. Adopting their own admission process, the screened students got the chance to move KISS. The students are from several corners of Muniguda, Chandrapur, Kashipur, Kalyansinghpur, Bissam Cuttack, Kolnara, Gudari blocks.Towards their Performances Company officials has been visiting monthly to KISS to know about their problems and counseling them and their parents to se-

nd other children to School. Further in adding to ensuring quality education across the country, Vedanta is also campaigning an education drive for deprived girls' child in its ‘OUR GIRL OUR PRIDE’. When they go their home on Vocations, they tell their younger brothers and sisters to study at KISS and briefly explained their facilities, parenting and teaching style. As a result, this year around 500 students moved to KISS after the initiative of Superintendent of Police (SP), Rayagada in January, 2014. Sesa Sterlite has also provided bus facility to the students to reach at KISS. Now the students are performing very well in exams and are living happy.

CSR & COMPETITIVENESS 11 MARCH 2014


FACE

Aneel Murarka a Philanthropist with a Difference An industrialist, socialite and philanthropist, Aneel is an ardent and doting father. He takes a keen interest in his son’s education and is a hands-on parent, spending time on a day-to-day basis.

MUMBAI: Aneel Murarka, Managing Director of Mirachem Industries is a man on a mission. Known to be extremely passionate about students' welfare and education, he is the man who offers solutions to knotty problems. A man who always goes the extra mile for things he believes in, Aneel is indeed the wind beneath the wings of events. Aneel is closely associated with NGOs. He has been providing help and assistance through donations, fund raising and offer guidance. In this sphere of activity, he works closely with ALERT India, which works for Leprosy Control; NASEOH, which works for underprivileged children; NAB – The National Association for the Blind, and many others. ‘Narayani Seva Sansthan’, at Narayani Dham, Lonavala is one such outstanding institution where Aneel’s family is doing charity through the C.B. Murarka Charitable Trust. The Trust is one of such organizations along with other reputed people of society which has developed Narayani Dham years ago. This initiative started by Aneel's father, Kashiprasad Murarka is very close to his heart. The Narayani Dham, trust is involved in organising free medical and eye checkup camps to the needy on a regular basis. They also do distribution of food grains, utensils and clothing to the Aadivasi community living in that area. Narayani Seva Sansthan, which is having a famous ‘Mandir,’ a huge community hall attached with 60 plus rooms for the visitors is busy throughout the year and booked much in advance for wedding ceremonies and

cultural events. Narayani Seva Sansthan trust also helps the needy by providing books, computer coaching, stitching classes, training for musical students and more. “It gives me immense satisfaction when I extend a helping hand to the needy. Doing something for the society through the C.B. Murarka Charitable Trust is extremely satisfying and it is our way of giving back to the society in a humble way,” says Aneel Murarka. “One should find little time to help make life better for other people. That’s why we are called human beings,” he adds. Mong the other initiatives undertaken by Aneel through the C.B. Murarka Charitable Trust are funding scholarships for needy children; supporting Shree Kalyan Arogya Sadan, a TB Hospital in Rajashthan; and building a state-ofthe-art meditation centre. The Trust is instrumental in building a crematorium ‘Shivdham’ in Goregaon (E), Mumbai, rated as one of the best crematoriums in Maharashtra, equipped with the best of facilities for performing last rites of the departed and also conducting funerals free of cost for the dead on behalf of families who cannot afford to perform the last rites; and many other acts of humanity. Aneel’s Mirachem Industries has also instituted the Smt. Meenadevi Kashiprasad Murarka Trophies for supporting literary and cultural activities in colleges across Mumbai. His involvement with NGOs and social work is a sign of his desire to work across the various strata of society, bring relief to the under privileged, to those living below the poverty line and to the challenged.

CSR & COMPETITIVENESS 12 MARCH 2014


COMPETITIVENESS BY C.B. BHATTACHARYA

LEVERAGING CORPORATE SOCIAL RESPONSIBILITY FOR

COMPETITIVE ADVANTAGE I observe that most companies are under leveraging the potential of CSR. This is primarily because there is a continued reluctance on the part of most companies to accept that CSR needs to be embedded into the core business of the firm and treated as strategy from start to finish.

I

n the current corporate landscape, a company’s long-term success hinges not only on its business prowess, but also on how it navigates its impact on the social and environmental realms within which it operates. Not surprisingly, whether a company is engaging in the ‘greening’ of its supply chain, building employee volunteer programs, or lobbying for human rights causes in the countries in which it operates. The dual concepts of sustainability and corporate social responsibility (CSR) are being implemented, discussed, and analyzed in businesses around the world. Companies large and small have begun to recognize the numerous competitive advantages, CSR engagement can bring them. As this realization becomes a reality for more and more companies however, simply engaging in CSR activities would not be enough and the ability to formulate and implement the best CSR strategies will differentiate competitors. In order to fully leverage CSR investments, companies need to be more aware of how such investments create value. Specifically, there are two routes to value creation via CSR: one direct and other indirect, the latter can also be referred to as the stakeholder route. The direct route includes actions such as reducing paper waste or cutting down on fossil fuel usage – actions that have a clear impact on both the environment and value for the company. The indirect route, however, is what occurs as a result of stakeholder reactions to CSR engagement. For instance, when a hotel asks customers to reuse towels as a way to be mindful of environmental impact, there is typically both a direct and indirect result. The direct impact is a decrease in water and energy usage.

Renowned Author C.B. Bhattacharya is Dean of International Relations and E.ON Chair Professor in Corporate Responsibility at European School of Management and Technology in Berlin, Germany.

CSR & COMPETITIVENESS 13 MARCH 2014


COMPETITIVENESS

LEVERAGING CORPORATE SOCIAL RESPONSIBILITY FOR

COMPETITIVE ADVANTAGE Companies also need to put in place metrics to determine whether or not the CSR strategy is working. There are dozens of metrics that companies can use on an ongoing basis to assess the effectiveness of their strategy. For example, companies may want to measure stakeholder identification with the company or the perceived reputation of the organization. First off, companies need to fully internalize the fact that engaging in CSR activities is not a zero sum game. For centuries, the main way companies have invested in social endeavors has been through corporate philanthropy or donations to charity organizations. Such a model is still prevalent, particularly in countries such as India. In order to embrace CSR and its potential benefits for all parties, however, companies need to look beyond the philanthropic model and recognize that CSR entails a different strategic lens, bringing with it diverse benefits. While acting upon one’s role as a responsible corporate citizen can still be the driving factor behind engaging in CSR activities, smart companies target their activities in order to create a win-win situation. Yet, companies do not have to abandon programs that may have begun as philanthropy in order to create competitive advantage through CSR. For instance, the Aditya Birla Group, a global leader in metals, is also well-known for its civic engagements. By embracing its long history of programs that cater to the greater good, Aditya Birla has continued serving rural communities through education, health and welfare, and infrastructure development. It is not the programs in and of themselves that create competitive advantage for Aditya Birla, but their incorporation within the business structure and their strategy of communication. Of particular importance is the way that their programs are viewed and understood by diverse stakeholders – include employees, customers, and shareholders. As a result of the recently passed 2013 Companies Act in India, CSR reporting is now mandated for all large businesses. Although many view this as a highly positive step, some remain wary about communicating internal information to stakeholders. In the past, the relationship between a company and its stakeholders was often one of ‘us’ versus ‘them’. Companies were highly selective concerning what and how they chose to communicate, and stakeholders were skeptical about the information they received. Today, while the information exchange between businesses and stakeholders might not be one of full trust, public demands for transparency have prompted companies to embrace greater openness and seek strategies for communication that also boost corporate image and stakeholder identification. To have such disclosure regulated, as it is in the Companies Act, creates a strong platform for communication while allowing companies to choose

their own strategies. Since the new act does not provide any guidelines regarding what constitutes acceptable reasons for not spending the mandate 2% of average net profits, it is up to the company to decide whether it is better to engage in CSR and communicate it or to avoid this spending and publicly explain that choice. Either way, companies inevitably put themselves out there as they are forced to take a stance regarding their actions. If companies do engage in CSR and disclose their activities, they can benefit from knowing the 3U’s model that I have developed with my co-authors. The 3U’s stand for Understanding, Usefulness and Unity, and each of these pillars is derived from extensive stakeholder research. The first component of creating Understanding is fostering awareness. Even with company CSR reporting, most customers and even many employees may not be aware of a company’s actions in the CSR arena. The simple implication is that if they do not know about it, there is no way they can reward a company for their CSR actions. Having surmounted the awareness issue, the next challenge for companies is stakeholder skepticism. Unlike advertising, where stakeholders inherently accept the business motive as the core driver, in the case of CSR they easily become wary of company motives. Does the company really care about social and environmental causes, or is this just green washing? This question will become increasingly central as more and more businesses disclose their CSR initiatives as a result of the Companies Act. My research shows, however, that as long as stakeholders observe that the company is making a difference to society, they are tolerant of the profit motive behind CSR initiatives. Indeed, as long as stakeholders perceive that the company shows genuine interest and is making a difference with their social cause, they see CSR as an innovative approach to business and are eager to reciprocate by buying the company’s products, spreading positive word of mouth and even volunteering time to help the CSR initiative.

CSR & COMPETITIVENESS

14 MARCH 2014


COMPETITIVENESS

LEVERAGING CORPORATE SOCIAL RESPONSIBILITY FOR

COMPETITIVE ADVANTAGE By engaging stakeholders, companies can create a sense of Unity, the third lever in the 3U’s framework. Understanding and Usefulness work together to create a sense of Unity between the stakeholder and the company.

In other words, there is a ‘circle of virtue’ between doing good and doing well. The implication is that creating social value is a prerequisite for creating business value: there are no shortcuts! The second U pertains to the ‘Usefulness’ of the CSR initiative. Through my research, I also learned that affiliating with a company that runs a CSR initiative helps fulfill some fundamental stakeholders needs. Recognizing that CSR helps fulfill fundamental human needs can help businesses implement the ‘right’ CSR initiatives by uncovering causes that resonate with target stakeholders. For example, CSR has the potential to integrate two life spheres for employees: work and home. Employees do not like to ‘check their morals at the door’ when they arrive at work and most prefer a seamless transition, where work is a natural expression of how they see themselves as a person.Thus, researching employees to figure out what causes they care about and then empowering them to co-create the company’s CSR strategy (rather than imposing the CEO’s pet cause on everyone) has big dividends in the form of happier, more productive employees who want to stay longer with the company. There are already many big companies in India which function with CSR engagements as part of their core strategy while tailoring projects to local surroundings, thereby creating a possibility for strong loyalty and support amongst employees and other stakeholders. For instance, the Tata Group, which operates over 100 companies across seven business sectors, has integrated fundamental principles of CSR into its internal strategy, while promoting a practice of local CSR engagement. By supporting the thread of CSR across each of Tata’s many sectors while allowing individual segments of the Group to choose what they find most relevant and important, the company fosters not only understanding, but also embraces the second of the 3U’s, the perceived Usefulness of the endeavor. The Usefulness of CSR activities and the concomitant benefits they provide can either be functional in nature (for instance energy savings from more efficient appliances) or psychosocial (for instance better

integration of work and personal life from working for a socially responsible company), with the combination of the two creating optimal overlap. As one employee in our research put it, “One of the things that I’ve been putting a lot of thought into the last few years personally and trying to move more in the direction of, is trying to overcome this complete separation of work and non-work life. I don’t want to leave here for them to say I have been selling soap. It is probably not quite what I am after. So, the better I can meet the personal purpose and pair it with my professional work, the more satisfied I am because then I see I can better combine the two. It is not the choice to do one or the other.” This type of statement was heard often, underscoring the widespread nature of this sentiment. Interestingly, such a focus on employee engagement also highlights the importance of active leadership. Senior executives need to be able to bring staff on the journey with them, as none of this can happen without engaging the internal stakeholder group to embrace this new approach. By engaging stakeholders, companies can create a sense of Unity, the third lever in the 3U’s framework. Understanding and Usefulness work together to create a sense of Unity between the stakeholder and the company. Unity can best be described as a sense of belongingness to, or connection between, the stakeholder and the company. Stakeholders develop a sense of Unity with a company based partially on whether and how they understand its corporate responsibility activity and how much they find the activity useful. Given a choice, stakeholders tend to deepen their relationships with companies with which they feel a sense of connection based on an overlap of values and withdraw from companies with which they have a mismatch in values. By engaging in carefully selected CSR activities and choosing strong communication strategies, companies can make all three U’s work together harmoniously, thereby producing the greatest value for both the company and society.

CSR & COMPETITIVENESS 15 MARCH 2014


COMPETITIVENESS

LEVERAGING CORPORATE SOCIAL RESPONSIBILITY FOR

COMPETITIVE ADVANTAGE The 3U’s Model One key implication of this framework is that companies need to eschew the idea that corporate responsibility must be enacted in a top-down way.

Armed with the insight of the 3U’s and how they work, companies can develop and implement compelling corporate responsibility programs that drive positive stakeholder reactions and thus create competitive advantage. Companies also need to put in place metrics to determine whether or not the CSR strategy is working. There are dozens of metrics that companies can use on an ongoing basis to assess the effectiveness of their strategy. For example, companies may want to measure stakeholder identification with the company or the perceived reputation of the organization. It is important to note that we do not view corporate responsibility as yet another cynical instrument of corporate profit. Instead, my co-authors and I argue that for firms to gain value from their corporate responsibility efforts, those efforts must improve the lives of their stakeholders in significant ways. One key implication of this framework is that companies need to eschew the idea that corporate responsibility must be enacted in a top-down way. In spite of a strong stakeholder involvement rhetoric, most companies continue to develop and manage their corporate responsibility as a top-down process. In a recent survey, 71% of the participating companies reported to the United Nations’ Global Compact that corporate responsibility policies and practices are currently developed at the CEO level. Beyond needing to focus on engaging and cocreating with employees, businesses should also focus on incorporating CSR into their core strategies. While the 2013 Companies Act mandates that large companies report on their CSR activities, the definition of CSR is left quite wide open. The act refers to CSR as, “activities that promote poverty reduction, education, health, environmental sustainability, gender equality, and vocational skills development”.

Within these guidelines, the company can decide which of these areas to engage in and what sort of programs to enact. Therefore, it is up to them to choose CSR activities that not only reflect the interests and image of their company overall, but also to consider the direct and indirect impact. In order for the public to embrace the benefits of CSR, the companies need to engage in meaningful activities and then communicate them well, creating a virtuous cycle of further stakeholder engagement and greater rewards for the company. Meaningful CSR engagement by India’s biggest companies will have dramatic repercussions, which will resonate across various stakeholder groups and within the companies themselves. It is clear that broader CSR activities can create meaningful change amongst the 400 million people in India who survive on less than US$2 per day. But companies need to take seriously the difference between CSR and philanthropy, dedicating time and money to figure out the right route to following the triple bottom line. It is therefore important to note that there are strong linkages between CSR and other core aspects of business strategy. Consider an experiment my coauthors and I undertook, in which consumers rated their own purchase intentions for computer accessories after learning about the company’s product quality and CSR activities.

CSR & COMPETITIVENESS 16 MARCH 2014


COMPETITIVENESS

LEVERAGING CORPORATE SOCIAL RESPONSIBILITY FOR

COMPETITIVE ADVANTAGE The implementation of the Companies Act should prompt businesses to re-evaluate their core strategies, allowing them a platform that they can use to their advantage. With a detailed understanding of both their CSR activities and their stakeholders, companies can act on a great opportunity for leveraging CSR for competitive advantage.

When the company was described as having high product quality there was a modest positive effect, but for a company with low product quality, consumer purchase intent ions actually decreased when a company engaged in positive CSR activities. In this second case, consumers disapproved of the company engaging in CSR activities; they thought the company needed to make product quality the priority. Related studies that I have done show a similar dynamic at work with investors: highly innovative Fortune 1000 companies derive greater financial returns from their CSR activities than their less innovative counterparts. In other words, it's critical to avoid creating an impression that CSR activities are crowding out core business priorities. If a company falls into this trap, even well-meaning corporate responsibility activities, in some cases, may harm a company’s competitiveness. So in short, the answer to the oft asked question, ‘Does it pay to be good?’ is a resounding, ‘It depends!’. Investments in the CSR and sustainability realm are rewarded by stakeholders only under certain conditions, as articulated above. This message is particularly relevant for India and other emerging markets where CSR and sustainability is still in relative infancy. If managers get it right from the get go, they will be able to do a whole lot more good for the environment and society, while also contributing to their bottom lines and adhering to the guidelines of the 2013 Companies Act. Needless to say, good corporate governance practices such as transparency and ethical behavior are prerequisite for CSR rewards to be reaped. In addition to embracing the 3U’s, companies should also be aware of another model which I call the 4C’s, which can be used as a guide for putting in place everything I have discussed above. The first key success factor is Commitment from senior leadership to embed CSR into the core company strategy and thereby make a difference both to

society and to their business. Next, companies must embrace the idea of Co-creation whereby they actively engage their stakeholders in formulating and implementing CSR strategy. The third factor is Communication – both internally and externally. Fact-based communication is way better in this context than self-congratulatory or promotional pieces; this helps maintain transparency and establish authenticity and credibility. Finally, companies must calibrate the effectiveness of their strategy. This last step is crucial to leveraging competitive advantage, as it entails not only regular monitoring and evaluation, but also continuous improvement. To conclude, despite the potential for strong CSR engagement to provide market differentiation and competitive advantage – if done right – as evidenced by our research and in my conversation and interaction with companies across the world, I observe that most companies are under leveraging the potential of CSR. This is primarily because there is a continued reluctance on the part of most companies to accept that CSR needs to be embedded into the core business of the firm and treated as strategy from start to finish. This is not totally unexpected as the paradigm of profit and shareholder value maximization is all too dominant and pervasive in the business world today. What is direly needed is a mindset shift where we (as a collective) are able to switch our lenses from one of profit maximization to one of value creation and triple bottom line thinking. The implementation of the Companies Act should prompt businesses to re-evaluate their core strategies, allowing them a platform that they can use to their advantage. With a detailed understanding of both their CSR activities and their stakeholders, companies can act on a great opportunity for leveraging CSR for competitive advantage.

Reprinted from Quality Times, March 2014 with permission of Institute of Directors.

CSR & COMPETITIVENESS 17 MARCH 2014


INTERVIEW BY RUSEN KUMAR

WE PREPARE BUSINESS LEADERS WHO CARE FOR

PEOPLE AND PLANET BIMTECH (Birla Institute of Management Technology), ranked 7th among India's top private B-Schools as per National HRD Network in 2013, has been successfully running a world class Post Graduate Diploma in Management – Sustainable Development Practices-PGDM (SDP) for the last 4 years. PGDM (SDP) has been ranked 95th among the top 100 Masters programs globally. It has also received Gold Award at Indian Management Conclave 2013. The programme is closely associated with the MDP Global Network by Earth Institute, Columbia University to provide access to high standard global pedagogy and alignment with around 36 world's leading Universities. Corporate Social Responsibility (CSR) is an integral part of PGDM (SDP) programme. Dr. Harivansh Chaturvedi, Director, BIMTECH, Greater Noida shares his vision and views on PGDM (SDP) and how it contributes to the society.

DR. HARIVANSH CHATURVEDI Director, BIMTECH

What is the vision and mission towards PGDMSDP? To prepare business leaders who will not only care for profit but also for people and planet. When it was launched? Course was launched in the year 2010. Why India needs Special PGDM in Sustainable Development Practices? Since 1992, the concept and applications of Sustainable Development (SD) have gained global prominence. Both public and private sectors have been forced to critically review their strategies, policies and interventions to incorporate ‘Sustainability’ as an integral and essential foundation of survival and growth but there is tremendous shortage of ‘Sustainability Professionals’ in India to meet the growing need. Experts estimate that around 8,000 to 10,000 green jobs have been opening up each year for the past 10 years. Recent government policies and CSR requirements will further generate demand for professionals in development sector and CSR divisions.

CSR & COMPETITIVENESS 18 MARCH 2014


INTERVIEW In our course, the core building blocks of Management are provided and followed by interdisciplinary domains in order to apply the principles of sustainability.

Traditional courses do not address the need to link the three fundamental dimensions of sustainability - social, economic, and environmental systems at conceptual and operational levels. The interlinkages and their implications are not adequately reflected in the courses and pedagogy. In our course, the core building blocks of Management are provided and followed by interdisciplinary domains in order to apply the principles of sustainability. What are the unique features that make PGDM-SDP a better option to the students? The course provides multidisciplinary knowledge and practical skills to meet the needs of development and corporate sector. About five months are devoted to field work/internship/short term projects. Regular conferences and workshops by leading international organizations such as United Nations, Global Reporting Initiative, KPMG etc. provide the necessary knowledge and global exposure to the students. During the programme, students get international exposure through inter university sessions of Global Classroom coordinated by Earth Institute of Columbia University, USA. They get an opportunity to learn from international experts practitioners and engage in discussions with foreign students through web conferencing. The programme is ranked 95th among Top 100 Masters Programmes in International Survey of EDUNI-VERSAL, France. It has also received Gold Award at Indian Management Conclave 2013. Briefly explain the course curriculum and faculty members? Programme is being offered under trimester system inclusive of immersion programme, summer internship, short term projects, and winter internship. The Foundation Year prepares students to learn the basic concepts and practices of Management. During the final year, applications and models of intervention in different domains and electives such as Sustainable Business Models, Livelihood, Food and Nutrition Security and Financial Inclusion are offered. An appropriate balance of academia and practicing professionals as faculty is maintained. How is the corporate response to the programme? During a short span of 4 years, the programme has evoked much interest among corporate, public sector, national and international developmental organizations, donor agencies etc. and more than 100 organizations have forged relationship by providing employment/internship opportunities to the students. Students of this programme have been given space for internship and placement in leading organizations such as Ernst & Young, Dabur Ltd, DLF Foundation, Bharti Foundation, ITC Ltd, National Hydro Power Corporation

WE PREPARE BUSINESS LEADERS WHO CARE FOR

PEOPLE AND PLANET

(NHPC), Asian Institute of Technology (Bangkok), Grant Thornton, International Development Enterprise (Bangladesh), Swisscontact (Bangladesh), GiZ, JK Paper Ltd, ACC Ltd, Mother Dairy, Tata Consultancy Services, ACDI/VOCA (Walmart CSR Project), Foundation for MSME Clusters, ACCESS Development Services, Development Alternatives, Federation of Indian Mineral Industries, Sahara Q Shop etc. What are the key competencies PGDM-SDP aims to develop in the students? Students are prepared to gain both conceptual and practical knowledge of the various dimensions of sustainability. They acquire practical knowledge during five month internship and regular case/report writing assignments. Global exposure provides awareness of the cross-cultural, multi-disciplinary, multinational dimensions of the field. A spirit of collaboration both inside and outside the classroom is fostered among students from diverse backgrounds and distant regions through increased communication skills and social networking tools so that they are prepared to work in the complex professional world of development practice. What are the various career opportunities open to PGDMSDP students? PGDM-SDP offers a wide range of career opportunities with national and international NGOs, international development agencies, corporate and public sector, industry associations such as CII, FICCI, Federation of Indian Mineral Industries etc and research and consultancy organizations. How PGDM-SDP is better option for those who are looking for career in Corporate Social Responsibility? Corporate Social Responsibility (CSR) is one of the core modules of the programme which is well structured to provide conceptual and experiential learning in the domain of CSR through field trainings and short term projects. Modules on community investment strategy, research methods, data analysis etc. prepare students to effectively function as CSR professionals.

CSR & COMPETITIVENESS 19 MARCH 2014


ARTICLE BY BHAVNA SETHI

CSR – An Essential Strategic Reputation Management Tool CSR, today can be effectively used as a strategic facilitator to effectively manage, mitigate and avert business risks and thereby be a champion of reputation management. CSR is the new cornerstone in the path of the new imperatives of inclusive growth and sustainable development across thresholds in India.

O

wing to the Companies Act, 2013 and SEBI regulation on business responsibility reporting – sustainability practices have received greater impetus in India. CSR has now been given its rightful place in the company’s core strategy. Hitherto, Corporate Social Responsibility and Sustainability Strategies in India have been marginalized and primarily viewed as ‘philanthropic acts’ in the operative business environment. The business imperatives of a corporate usually dictate their CSR interventions depending upon their reliance on key natural and human resources they impact. But today the focus is on sustaining interventions to maintain the delicate socio-economic dynamics in the operative environment. “Reputation can be defined as ‘a stakeholder’s overall evaluation of a company over time,’ this evaluation is made up from the stakeholder’s experience of the visible behavior of the company, as well as the images based on the company’s communication and in addition its symbolism in comparison with its major competitors (Gotsi & Wilson, 2001).” What factors make up a company’s reputation? Key drivers of a good reputation include – vision and leadership, products and services, financial performance, employee satisfaction, social and environmental responsibility and emotional appeal. These facts may change over time, reflecting

changes in society in general and business in particular. Yet, it’s important to remember that even if the drivers of reputation are in place, a company’s reputation depends on how stakeholders perceive the different aspects of its performance and behavior. Corporate Social Responsibility (CSR) or – responsible business practice, ethical business or simply giving back – is increasingly important in building an organization's reputation as a valued and respected part of the community in which it operates. Therefore, CSR is about being socially proactive and demonstrating the values of your organization within your community, in an ethical and sustainable manner. Thereby building reputation capital; which can effectively be harnessed in securing most favorable industry positioning, garnering effective share of voice and most essentially as a strategic tool in times of crisis management. Today, companies are waking up to the realization that non-financial risks can negatively impact their bottom lines. These non-financial risks arise due to disturbances, exploitation, imbalances or degradation of resources in their immediate operative environment, caused due to their own unrelenting commercial pursuits. Their own negligence and hence a reckoning that it could be avoidable by timely proactive engagement of stakeholder groups and timely intervention to diffuse the very symptoms of such anxiety.

CSR & COMPETITIVENESS 20 MARCH 2014

Bhavna Sethi has over 17 years of work experience in UK and India, across industries and domains especially in the field of Corporate Affairs & Communication, Strategic CSR, Reputation Management and Business Sustainability. She is General Manager - Corporate Communications at Jindal Steel & Power Limited and passionately involved with augmenting the Corporate Reputation of the Indian Conglomerate.


ARTICLE

CSR – An Essential Strategic Reputation Management Tool

CSR, today can be effectively used as a strategic facilitator to effectively manage, mitigate and avert business risks and thereby be a champion of reputation management. CSR is the new cornerstone in the path of the new imperatives of inclusive growth and sustainable development across thresholds in India. CSR initiatives, stakeholder management, cohesive communication strategies with built in impact assessment, monitoring and feedback mechanisms can be used effectively to pre-empt, identify, mitigate or avert risks. Just as the most important element for a successful marketing or advertising initiative lies in its timing, likewise the timing of a CSR initiative is quintessential to the object of achieving the desired impact. The impact could be designed to be positive or neutral depending on the business exigency. IDENTIFYING THE RISKS Risks could originate from a company’s operations itself or due to certain external environmental, social, cultural, geographic, demographic or political factors. An awareness of these factors can be effectively weaved into the CSR programmes and specific interventions should be designed to neutralize, stabilize or obliterate such prospective disruptions. The CSR function today needs to be very dynamic and pro-active to mitigate such business risks therefore progressive organizations in India need to be three dimensionally committed to people, profit and the planet. Companies can improve their reputation and reduce the financial impact of negative publicity through strategic social investments. Five factors facilitate CSR to be leveraged for Indian businesses (B2B): Internal stakeholder buy in, resource allocation, sustained commitment, modesty in CSR engagement and support for causes aligned to the company’s core business imperatives. These strategies help managers enhance reputation, augment bottom lines, gain consumer goodwill and in still a sense of pride in internal

stakeholders like the employees. BUILDING CSR STRATEGIES To keep CSR as a differentiator and maximize its business benefits while tackling similar issues, organizations will need to design their own strategic ‘CSR Pathways’ consistent with their core values, and leveraging their unique expertise. 21st century CSR needs to be built in overall business strategies, processes, performance metrics and organizational structures. CEO’S PAVE THE WAY FOR CRO’S (CHIEF REPUTATION OFFICER) The first step in this journey is undoubtedly setting the tone at the top. Numerous case studies – show that CEOs who strongly commit to CSR and set the sustainability agenda in their organizations have the highest chance of seeing their organization ‘harvest’ business benefits and the organization scores highly on the good corporate citizen index. In the current economic down turn, organizations willing to build and preserve their corporate reputation need to start looking now at how, they can address changing stakeholder concerns through compelling CSR in a difficult economic environment. Adaptations to CSR strategies made today and their potential to meet emerging stakeholder concerns will certainly make or break the corporate reputations of tomorrow. As organizations now engage with consumers, civil society, traditional and social media and seek to become part of everyone’s life, they need to be seen as genuinely ‘good’ corporate citizens. In other words, as the proximity between a company and its stakeholder's increases, stakeholder expectations from such company also rise in the same proportions. Organizations of the 21st century will therefore have to build sustained positive relationships with their stakeholders on the basis of consistent CSR strategies and interventions setting the roadmap for Sustainable Businesses.

CSR & COMPETITIVENESS 21 MARCH 2014

In the current economic down turn, organizations willing to build and preserve their corporate reputation need to start looking now at how, they can address changing stakeholder concerns through compelling CSR in a difficult economic environment.


ARTICLE

CSR – An Essential Strategic Reputation Management Tool

CSR, Business Responsibility and Sustainability Reports are instruments to manage reputation; therefore should be the essence of a robust communication strategy. CSR Checklist for strategic risk mitigation and enhancing organizational reputation: 1. CSR design: The glocal (think global – act local) phenomenon works here i.e. CSR interventions should be directed to mitigate local risk factors arising due to negative impacts of the business operation; albeit, the rationale for CSR must be institutionalized through – out the company, and an intrinsic part of the organizational culture; which is manifested through broad based CSR pursuits across verticals. 2. CSR facilitators: CSR professionals fulfill facilitating roles in terms of guiding and supporting different verticals to support the fulfillment of their KRA’s while building the organizations overall competencies in respect of business responsibility and their reputation capital. 3. CSR vision, strategy and alignment: The overall CSR dimension should take into account the business risks of the operative environment and proactively engage with the organizations stakeholders i.e. resource allocations should be directed towards maintaining a balance between the internal and external, long term vs. short term, related CSR and unrelated CSR, organizational objectives and corporate citizenship, sustainable development and corporate goodwill. 4. CSR models: The choice depends on the organizations business imperatives however CSR interventions could be direct viz. community outreach initiatives or they could be in partnerships viz. with NGO’s or Social enterprises, Govt. programmes, industry CSR interventions, SHG’s, Co-operatives. It is important to remember each model has its innate advantages and challenges, and the choice would depend upon the best optimization of resources (capital + manpower), experiences and skill sets required for the desired interventions.

5. Systematic and periodic assessment of CSR pursuits and desired Impacts. 6. CSR reporting and communication: CSR, Business Responsibility and Sustainability Reports are instruments to manage reputation. COMMUNICATING CSR PRACTICES EFFECTIVELY Numerous studies support the notion that CSR can impact companies’ reputation positively, helping them improve their reputation with stakeholders and be more resilient in times of crisis. Still, companies need to work hard to make sure stakeholders are aware of their efforts and that these efforts are sincere. Only then the promise of CSR – Reputation relationships can be fully realized. Therefore Strategic CSR coupled with effective CSR communication – can act as insurance for reputation, which can positively i m p a c t a n o rg a n i z a t i o n s f i n a n c i a l performance while also maintaining the delicate balance between the Societal and business interests of the company and contribute towards building ‘Robust Balance Sheets’. CONCLUSION Globally, strategic CSR pursuits are an important element of risk management and socially inclusive business practices and are important differentiators which give an organization the competitive advantage. Companies can improve their reputation and reduce the financial impact of negative publicity through strategic social investments. Incorporating CSR within the operational risk framework is an ideal way of devising mutually beneficial solutions for the company as well as society. Therefore the reckoning is that CSR activities can indeed bring tangible benefits if companies dare to dream and look beyond their P/L statement; after all there is nothing wrong with it being a win-win situation with the company and the society benefiting equally!

CSR & COMPETITIVENESS 22 MARCH 2014


CORPORATE GOVERNANCE BY LARRY TAYLOR

INDEPENDENT CORPORATE DIRECTORS

MUST UNITE IN EFFORT TO MONITOR THE 'TONE-AT-THE-BOTTOM' There are corporate director associations that are not yet members of the Global Network of Director Institutes. For example, corporate directors in China, India and Japan who have hundreds of thousands of corporate directors are not yet represented in International Corporate Governance Network.

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ndependent corporate directors should have an allegiance to protect capitalism, the economic system that makes everybody’s prosperity possible. It should be a corporate governance principle to which a commitment is pledged, much like the medical profession’s oath to save lives or the public union’s dedication to increase worker’s benefits. The Independent Corporate Director profession should have a unification principle. We are the champions of the private sector, yet we provide little or no promotional viewpoint that highlights the private sector successes. That is, our private sector successes that improve the lives of those at the bottom of our societies are taken for granted. There is no solidarity of private sector independent corporate directors. We stalwarts of the capitalistic system – private sector businesses - should be derided for our ineffectiveness in promoting the positive aspects of capitalism. The average person thinks negatively of capitalism. We are losing the battle. As a result, the long term corporate sustainability is threatened. It appears that independent corporate directors are sitting idly by while the capitalistic society is dismantled piece

by piece. As a group we don’t sway public opinion for the positive, instead we provide fodder to support the negative images by awarding excessive executive salaries, by seeking and accepting corporate welfare, and by focusing on short term quarterly earnings. Further, institutional shareholder groups are pressing for more transparency regarding corporate political campaign spending and lobbying activities. We need to instill ‘protection of capitalism’ as a corporate governance principle. Our corporate governance training should include a discussion of the long term corporate sustainability and capitalism in addition to traditional principles for monitoring individual corporate performance. Currently, the corporate governance training addresses only the key areas for competing with other corporations, which too often leads to negative corporate behavior. Our tone-at-the-top mantra must be supplemented with a tone-at-the-bottom mentality. With a proclaimed common goal to protect good capitalistic principles, independent corporate directors can self police the private sector for the betterment of societies around the world.

CSR & COMPETITIVENESS

23 MARCH 2014

Dr. Taylor, PhD. Chairman and Chief Executive Officer of The Creighton Group, Inc., California


CORPORATE GOVERNANCE

IMPEDIMENTS TO UNIFICATION Corporate pursuit of ‘corporate welfare’ is detrimen-tal to the long term sustainability of capitalism and it needs to be curtailed, if not stopped completely. In addition to the sickness of the special interests of public sector unions, corporations seeking and accepting corporate welfare is a sickness. According to a recent New York Times investigation that studied 150,000 of local incentives granted nationwide, researchers found that states, counties, and cities are giving up more than $80 billion each year to companies just to keep them in their jurisdictions. Nearly all industries are beneficiaries of this type of welfare, including oil companies, technology companies, entertainment companies, banking institutions, and big-box retail chains. Mayors and governors who are desperate to create jobs fear that companies would move jobs overseas if the corporations did not get subsidies in the United States. Like many welfare individuals, some corporations have developed unnecessary dependency on corporate welfare in the form of subsidies, tax benefits and tariff protections. In general, I am against subsidies. The idea of propping up one corporation or industry that can not compete on its own seems to be the result of poor choices. It continues the competition among special interest groups gaining a higher foothold than another, leading to additional subsidies. The racketing up to meet ever increasing special interest requests is detrimental to the economy. The capitalistic free markets can never find equilibrium if one special interest group is successful at riding the welfare tides over another. There are all kinds of subsidies for corporations. Some are designed to keep down food prices; some are designed to prevent the decline in certain industries; other subsidies are designed to encourage export sales and others are designed to encourage more hiring in certain industries. To many, including myself, subsidies are a form of protectionism by making domestic goods and services artificially competitive. SUBSIDIES DISTORT THE MARKETS The actions of some corporations have led to many unfortunate disasters for other corporations, leading many to think of themselves as victims. Accepting corporate welfare is not in the spirit of the Tone-at-the-Top mentality as it is viewed as special interest greed and potentially unethical. Independent corporate directors should not allow their corporations to pursue or accept corporate

Independent corporate directors should not allow their corporations to pursue or accept corporate welfare.

welfare. This will only be possible under a united principle to protect the capitalistic economy. There is power in numbers. Even the shareholder communities recognize that a united front is worthwhile to achieve their objectives. According the Kay Review report in Britain, “investors could deliver long term benefits if they engaged collectively with company boards rather than individually”. Thus, large investor associations such as the National Association of Pension Funds, the Association of British Insurers and other associations of investors are giving investors a coherent voice when dealing with corporate boards. Moreover, the International Corporate Governance Network (ICGN), a network of primarily institutional investor organizations, provides a coherent viewpoint from investors. The independent corporate director profession has a promising unification initiative underway with the Global Network of Director Institutes (GNDI) where corporate directors from numerous countries are joining forces. However, the unification efforts need to address the care of the capitalistic economies, especially as the number of independent corporate directors and diversity increases. The population of independent corporate directors is likely to balloon in the next ten years. It seems that every type of business entity seeks the professionalism of independent corporate directors. It is not just the publicly traded corporations anymore. We must indoctrinate those that join the new breed of independent corporate directors to protect the economic system that has raised the standard of living for so many people around the world. THE NEED FOR UNIFICATION The value of independent directors is being realized throughout the private sector. Regardless of the company structure businesses are seeking the advice of the seasoned independent corporate director. Surprisingly, as the number of publicly traded companies has declined the influence of the independent corporate director has risen. In recent years many growing businesses around the world have opted for corporate structures other than the traditional publicly owned corporation. Among the alternative corporate structures are the closely held public corporation, the limited liability company, the limited liability limited partnership, the publicly traded partnerships, the real estate investment trusts, the private equity owed enterprise, the state-owned enterprises and the family conglomerates.

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There is a rise in the economic importance of independent corporate directors around the world.

Independent corporate directors are serving on boards of a wider variety of business structures than they have in the past. More and more they are being recruited to serve on boards that are foreign to their country of residence. They serve on boards in nearly all industries, including financial institutions, manufacturing, hospitality, real estate, construction, education, pharmaceuticals and entertainment. As a group, independent corporate directors have input in all facets of the economy, public sector and private sector, large and small organizations, publicly traded and privately owned organizations. UNIFICATION EFFORTS UNDERWAY We live in a global economic environment where corporate directors interface with directors around the world. The global Influence has grown substantially. Because most corporations now have international operations, their independent corporate directors have influence in more geographical locations. In fact, many corporations have made international experience a requirement to serve on the board of directors. Thus, independent corporate directors have significant international experience and influence. Further, the best practices of corporate governance are becoming more and more standardized around the world. Recently a global network of corporate director associations was established. Thus, in addition to independent corporate directors serving on the boards of corporations based in other nations, they have increased communications with their counterparts in other nations. As a result, there is a rise in the economic importance of independent corporate directors around the world. The number of independent corporate directors is rapidly growing. The demand is so great that an international network has recently been established. The Global Network of Director Institutes (GNDI) is a federation of corporate director associations comprised of directors from numerous nations, representing over 100,000 corporate directors. In addition there are corporate director associations that are not yet members of the Global Network of Director Institutes. For example, corporate directors in China, India and Japan who have hundreds of thousands of corporate directors are not yet represented in GNDI. Additionally, there is a nine nation member Asian group, the Institutes of Directors in East Asia Network (IDEA) that promotes the interest of corporate directors regionally. Overall, I conservatively estimate the population of independent corporate directors to exceed one million pro-

CORPORATE GOVERNANCE

fessionals. Further, there are millions of others seeking their first corporate board seat. It seems nowadays that every business entity wants at least one independent corporate director serving on its board. The world is becoming smaller. Most corporations are multinational with operations in more than one country. They operate under various laws and regulations, giving them the ability to move operations, invest-ments and profits to countries that provide the best economic advantages. According to the Net-work of Global Corporate Control, some multinational corporations have become ‘Supra-Governments’, where they command more eco-nomic clout than countries. It points out that in 2010 nearly sixty percent of the world’s largest 150 economic entities were corporations. It went further to name corporations such as Wal-mart, Royal Dutch Shell, Exxon Mobil, British Petroleum and tens of others as ‘supra governments’. The work builds on the research conducted on the interlocking directorates over the years that documented the power that multiple directorates wielded. Using a database of 37 million companies and investors worldwide the researchers studied the share ownership linkage among 43,000 transnational corporations. The mapping of power indicated that 3% of the companies (1,318) owned eighty percent of the wealth and less than 1% of the companies (147) owned 40% of the total wealth of the entire network. Many believe the supra governments have the power to topple regimes in some countries and to significantly impact the social fabric in others. If this is taken as fact, there is little or nothing that can change it. It should be viewed as a constraint to the world economy. The new breed of independent corporate directors are uniquely positioned and qualified to make the best of this seemingly permanent circumstance. Among the first tasks is to demonstrate the benefits of the capitalistic system around the world. It is a global circumstance requiring a global approach to stabilization. Independent corporate director’s influence on the global economy is substantial and growing because of the changes in corporate governance, government regulations and trends described elsewhere in this book. No other profession has the ear of the shareholders, oversight of corporate management, and the ability to impact the tone-atthe-bottom.

Reprinted from Quality Times, March 2014 with permission of Institute of Directors.

CSR & COMPETITIVENESS 25 MARCH 2014


ARTICLE BY APARNA VENKATACHALAM

The 2% CSR levy on India Inc. Apart from the social benefits, engaging in meaningful CSR also has great value for companies. Strategic CSR initiatives could help companies to obtain and maintain a social license to operate, improve community relations, enhance reputation and brand value, improve employee retention rates and boost employee morale.

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he concept of social responsi-bility is not new to India. The notion of business ethics and social responsibility has a rich cultural, religious, and historical tradition in the country. For centuries, the business community in India has worked closely with the society, based on the ethical values proposed in the Hindu religious scriptures. Following Independence in 1947, family owned businesses espoused the concept of trusteeship to support India’s social and institutional development. Some of the best institutions in the country, such as the Tata Institute for Fundamental Research, the Birla Institute of Technology and Science, all owe their existence to the generosity of the India’s industrial pioneers. Corporate social responsibility (CSR) in India still remains centred on philanthropy; although over the years it has gradually shifted focus from institution building to community development. The recently mandated CSR policy, as directed by India’s Companies Act, 2013, moves CSR to the fore, pushing it beyond the realm of philanthropy. The act, which is considered to be the first of its kind in the world, codifies CSR spending for targeted companies. Effective from 1st April 2014, Clause 135 of the Companies Act makes CSR spending mandatory for every company, private limited or public limited, with a net worth of at least Rs 500 Crore ($83 million) or a turnover of Rs 1,000 Crore ($160 million) or net profit of Rs 5 Crores ($830,000). The act encourages companies to spend at least 2% of their average net profit for the three preceding financial years on CSR activities. The

clause will be applicable to over 8,000 publicly listed companies and MNCs operating in India and is expected to generate over USD 2 billion a year. The clause specifies targeted companies to form a CSR committee, containing three or more directors, and at least one independent director who are required to devise, recommend, and monitor CSR activities, as well as the amounts spent. Companies are also required to disclose the same in their annual reports. The key idea behind these rules is to emphasize the need for India Inc. to look beyond philanthropy and undertake initiatives which have potentially significant social and economic impact in the country. Furthermore, through its disclose-orexplain mandate the act aims to promote greater transparency. Although there is currently no guidance on what constitutes as a valid explanation for failure to spend, failure to explain is punishable and the act holds the Board and the CSR Committee liable. In addition, Schedule VII of the act delineates key areas of interventions for companies to align their CSR activities with. Some of the prominent focus areas include the eradication of hunger and poverty, promotion of education, promoting gender equality and women’s empowerment, reducing child mortality and improving maternal health, and combating HIV/AIDS, malaria and other diseases. The act also specifies that CSR activities should not be undertaken in the pursuance of the normal course of business, or what qualifies as ‘business-asusual’.

CSR & COMPETITIVENESS 26 MARCH 2014

Aparna Venkatachalam is a Project Manager at CSR Asia's Europe Office at Edinburgh, U.K. She specializes in community investment, stakeholder engagement, programme management and impact assessment.


ARTICLE

The 2% CSR levy on India Inc. Companies must be conscious not to treat CSR as another bureaucratic tickbox exercise, but must look for ways to innovate and improve programs such that it utilizes their core competence and is truly beneficial for society.

The key idea behind these rules is to emphasize the need for India Inc. to look beyond philanthropy and undertake initiatives which have potentially significant social and economic impact in the country.

Though the act can be seen as a step in the right direction to promote social development in India, there are some key issues to be considered to validate its effectiveness. For instance, given India's track record of corruption, it remains to be seen how successfully the act would be enforced and whether the intended benefits will reach the desired levels. At the same time, companies could also side-step the rules by simply including explanatory statements in their annual reports for not spending the required amount. Moreover, conspicuously absent from the act are indicators for measuring the impact of CSR initiatives. At a minimum, companies must undertake proper due diligence to ensure that the projects create netpositive socio-economic impact. CSR would only be effective if the initiatives undertaken are strategic and participatory in nature, and are tailored to cater to the needs of the local communities. Failure to do so could not only be detrimental to the beneficiaries of the programme, but could also cause reputational hazards for companies. Critics also argue that this new law is another form of mandatory tax, which essentially imposes an additional 2% levy on companies. It is feared that this proposed law and the implicit tax will put India at a competitive disadvantage in the global marketplace, thereby slowing its growth rate. Regardless, it is important to recognize CSR as a crucial factor, which will enable India to overcome its current develop-ment challenges and achieve sustainable growth in the near future. The current law enables businesses to reflect the way in which they

CSR & COMPETITIVENESS 27 MARCH 2014

can contribute to the Indian society more effectively. For this to work, companies must be conscious not to treat CSR as another bureaucratic tick- box exercise, but must look for ways to innovate and improve programs such that it utilizes their core competence and is truly beneficial for society. Also central to the success of CSR initiatives will be partnerships between businesses, governments, civil society and multilateral donors, which will help to maximize the impact of CSR in-itiatives. At the same time, companies must also address any unintended negative consequences of their business operations, which could undermine the positive work being done on the side. Apart from the social benefits, engaging in meaningful CSR also has great value for companies. Strategic CSR initiatives could help companies to obtain and maintain a social license to operate, improve community relations, enhance reputation and brand value, improve employee retention rates and boost employee morale. India has one of the starkest social and economic divides in the world, which continues to widen steadily. The newly introduced CSR act allows an oppor-tunity for the private sector to step in and help bridge this divide. If done well, the CSR act will help to usher in positive social changes in the country while also being mutually beneficial to companies.

This article was originally published on the CSR Asia website on 26 March 2014


SERIES

BY PRABHU GUPTARA

Charity, Philanthropy, Nation-Building & CSR A Historical Perspective Professor Prabhu Guptara, a global thought leader, gave a talk at India International Centre, New Delhi on August 12, 2013. It was fantastic on various counts. His talk was crisp, graceful, rich on content, smoothly delivered - all those things you expect and want from a good talk. The topic of his speak was ‘Charity, Philanthropy, NationBuilding & CSR: A Historical Perspective’. We are starting a series of article based on his talk. Following is the text, of Prof. Prabhu Guptara's talk.

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s our topic is ‘Charity, Philanthropy, NationBuilding & CSR: A Historical Perspective’, clearly, the intention is to stand back a little from current issues so that we can place them in context. That is extremely important since certain groups have hired whole teams of people to circulate in the media deliberate lies in the interests of current political agendas. In addition, since our culture is more oriented towards myth than to history, most of us are disinclined to exert ourselves too much to look into our past – a tendency which, if it continues, will mean that we are condemned to repeat our mistakes. But, before we get into all that, let me say that I am here in Delhi in the course of research into a book on Indian philanthropy, which will cover the entire history from Vedic times to the present, and I guess the invitation to deliver this lecture is principally a result of that research. I must acknowledge that the limitation of our time together will mean certain distortions and shortcuts, which I hope to avoid when the medium makes it possible to deliver something a little more exact, judicious and complete. Second, I am in Delhi because I am an Advisor to the Board of Forward Press Magazine – which I regard as the single most strategic philanthropic initiative in India today, because it reaches into the heart of India’s darkness, our BIMARU belt. It is India’s only magazine to be wholly in English as well as in Hindi – every article originally written in English is translated and published also in Hindi, and every article originally written in Hindi is translated and published also in English. And the English as well as the Hindi text are placed in parallel columns, side by side on each page. The

intention is that Hindi-readers (most of whom nowadays have some English) are encouraged to improve their English, at the same time as their overall mental horizons are widened, since the magazine covers everything from politics to Bollywood, and from sports to business. This could enable a whole generation of Hindispeakers to become at least a little more fit for employment in the private sector, instead of only in the government sector, as at present – which is of course the reason why there is the struggle about reservations in jobs. The magazine has also become a most important platform for OBCs/dalits/poor people, whose jati leaders, intellectual leaders and cultural leaders have accepted Forward Press as ‘their own magazine’ because, unlike the mainstream media, Forward Press Magazine is both BY and FOR what has, in academic discourse, for some decades been called the subalterns – that is, the poor and marginalised of our society, such as OBCs, dalits, and slum-dwellers. I mention all this because, in the course of that research for my book on the history of Indian philanthropy, and in the course of involvement with one practical expression of philanthropy, Forward Press Magazine, I was delighted to receive the invitation from BCF (Business & Community Foundation), from Sampradaan, and from the India International Centre, to reflect on the subject and give this talk. Many thanks to each of them for organising this event, and many thanks to them for inviting me to give this talk – and, as the invitation was extended to me via Dr. Nalini Abraham, my thanks to her as well.

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SERIES India’s engagement with this whole area of philanthropy and charity, appears to start with what was given away or offered to God or the gods, through ahavan, yagya and similar ceremony– actually ceremonies of five types, curiously parallel to those which the Jews were instructed to perform according to the Jewish Bible, which is probably for historical reasons better known to us in India by its Christian name, the Old Testament.

India’s engagement with this whole area of philanthropy and charity appears to start with what was given away or offered to God or the gods, through a havan, yagya and similar ceremony– actually ceremonies of five types, curiously parallel to those which the Jews were instructed to perform according to the Jewish Bible, which is for historical reasons better known to us in India by its Christian name, the Old Testament. These five types of offerings are: blood sacrifices (vadh or bali), burnt offerings (havana/yagna), poured out libations (nowadays only jal or doodhchadhana, but in the old days primarily the inebriating liquid calledsoma), wave offerings (arati), and sacrifices offered symbolically, for example by touching the object, or placing one's hand over the object and then putting those hands over our head and heart, or having placed over our heads a ‘cap’ representing of course a temple (and therefore God, or more precisely Hisfeet). In Rig Vedic times, the purpose of these sacrifices or offerings on the part of our people was quite clearly to obtain favour from the Divine for oneself. As far as can be made out from the texts, Vedic religion consisted principally of singing hymns in praise of one or more of the gods, and of offering alcoholic as well as non-vegetarian sacrifices (including, by the way, beef – see Rig Veda X.86.14ab, which is most e a s i l y a c c e s s i b l e a t h t t p : / / w w w. s a c r e d texts.com/hin/rvsan/rv10086.htm) in order to seek the blessing of the gods. It is important to note that by ‘blessing’ was meant wealth, power and fame, along with victory in battle and the spoils consequent upon it. We might quite precisely describe it as a transactional relationship with God. To the Vedic tradition, at some point was added the idea of charity or alms-giving, though that was primarily to the gods and the priests (temples did not come into existence till very recently - the 6th or 7th century AD - so the question of giving to them obviously rose only then or later). In our culture it is common to imagine that Indian culture is eternal, that things have always been the way they are now. But this is simply not true: even those who have lived only

Charity, Philanthropy, Nation-Building & CSR A Historical Perspective

to my age (64) have seen enormous changes firsthand, specifically in our religious and cultural traditions, and if our parents have shared even their least important memories on such subjects with us, then it will be clear that there has been a sea change in our spiritual life even within the lifespan of two generations. At what point the idea of charity or alms-giving was added in our traditions is best considered in view of the fact that Vedic or Brahminic tradition, which has this transactional relationship with the Divine (‘I am doing this for you, Lord, please do this for me’ or ‘You have kindly done this for me, Lord, so I am saying thank you by offering you this’), was challenged by two forces. First, it was challenged by Shramanics - we call them yogis or ascetics today - who rely primarily on self-effort by austerity or some normally painful or at least physically challenging limitation or contortion (tapas) - though the idea of the grace of the gods may be involved too, particularly in the later versions of Shramanic traditions. Apart from the establishment of the venerable tradition of yoga which was eventually co-opted by the Brahminic tradition in the late nineteenth or early 20th century, the developing Shramanic traditions were in every way opposed to the Brahminic tradition, and led first to the establishment of what is Jainism. Now Jainism, so far from requesting material favours for enhancing prosperity and happiness on this earth, locates the notion of spirituality in the total abnegation and abandonment not only of prosperity but even of life itself. Jain prayers are decidedly not for wealth, power, fame or other worldly things, as are Vedic prayers. The Jain emphasis is on introspection, humility, kindness, self-fulfilment through service of others, and other internal qualities. So it is not surprising that it was the Shramanics who originated the idea of mendicant monks, which continues in Jainism as well as Buddhism (and certain strands of Hindu traditions). Continued …

CSR & COMPETITIVENESS 29 MARCH 2014


EVENT

Shikhar Organizes CSR Summit in Mumbai Shikhar Organization for Social Development (SOSD) was initiated on November 13, 2001. SOSD is a developmental organization run by a group of professionals facilitating community development initiatives since it came into existence. Our strategy is to empower the vulnerable sections of the society by building their capacities through education, vocational training and skill–based development. Shikhar Focuses on self - sustainability, employability, computer literacy, education, community development and health, women and child empowerment, overall development of the society, promote cultural and moral values, environment protection, enhancement and adventure sports. Shikhar organization organized a CSR summit 2014 on February 11, 2014 at Hotel Sofitel, Bandra kurla complex, Mumbai. This summit delivers better understanding of future requirement related to CSR & the role of corporate in developing the business of CSR in India, collaboration with CSR practitioners, young managers, academicians and students & corporate based on ‘New CSR Agenda’ in the country. The event was Sponsored by Maruti Suzuki and LeadGrow Consulting. It was held in association with Global Compact Network India. Knowledge Partner: India Institute of Corporate Affairs. Research Partner: International School of Project Management. Academic Partner: Dept. of Extension Education, SNDT Women's University. This Summit was chaired by Pooran Chandra Pandey, Executive Director Global Compact Network India along with Nikhil Pant, Chief Programme Executive, National Foundation For CSR, IICA, Ministry of Corporate Affairs; Sudhir K Sinha, Corporate Head CSR, Cipla Ltd and V.R. Ferose, Senior Vice President Globalization Services, with the Pillars of Shikhar RK Suri. Summit Director Shikhar, Ratna Tiwari, Co Director, HOD Extention Education SNDT University Mumbai. Nadeem Akhtar, CEO Shikhar, Aditya Ghildyal, Human Resources, New Holland Tractors India and Upendra Giri, Founder CEO AstroWix ACOE Global Corporation. The CSR submit 2014, began extravangzaily by discussing 1st session on Companies Act 2013, Clause 135. The team of speakers headed by Pooran Pandey, ED of global compact network India, discussed on various challenges faced in emposing the clause 135 and various

opportunities whose doors will open. Nikhil. Pant, chief programme executive, IICA gave views on IICA working method and government working procedure. Deepak Arora, Essar foundation gave corporate way of thinking. Namita Das gave an insight on how Yes Bank support CSR and banking industry view on CSR. Second session discussion was on CSR and various social challenges taking place. It was headed by Sudhir K Sinha, Corporate Head CSR Cipla Ltd. Nehal Sanghavi, Senior Advisor Usaidindia gave views and insight on CSR activities in India. Chandan Mishra, developers connect, Samsung electronics gave his views on how technological changes in product can help in bring social changes. Anjana Sinha, IG, Andhra Pradesh gave an insight about how corporate and police can collaberately bring social changes. Session third discussion was on public private partnership in csr began which was headed by V.R. Ferose, Senior VP, Globalization Service. Prachi Jambhekar, Asst. Commissioner Planning, Municipal Corporation, Greater Mumbai gave views on how BMC works on various social activites with the help of corporates in various development activities for education, health etc. Dr. Vivek Singh, VP, Safe Drinking Water, Sahara India Parivar highlighted how they work for public private partnerships in sports development and education sectors. In the end Disha Wakhane (Daya ben) and Mr Modi producer of Tarak Mehta ka Ulta Chasmaa serial shared their views on how entertainment industry can also serve as a social change medium.

CSR & COMPETITIVENESS 30 MARCH 2014

NADEEM AKHTAR CEO & Founder of Shikhar

Our mission is to help the deprived sections for developing and realizing their capacities and potential with sensitivity to their dignity, selfdependence and cultural values, in order to lead more satisfying and enriching lives.


ARTICLE

BY ARUN KUMAR ARYA

Project: A Commitment from Conception to Commission While conception phase, project concept should be discussed among stakeholders with open minds. Capital investments, scope and return benefits of project should be well discussed, understood and accepted.

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ustainability as a business reality has become a component of business success and project management is one of the ways to get there. For the successful completion of a project a high level of commitment is essential during its various life cycles. From small projects of low investment and of low risk to mega projects of huge financial investment with high risks are being successfully implemented. The complexity of projects are now increased due to huge capital investments, tight project schedules, stringent quality & safety norms involved in. During its life cycle, a project goes through following phases: 1. Conception 2. Planning 3. Organizing 4. Execution and Control 5. Commission Conception phase involves conceptualization and validating business case. A project charter is prepared which defines the scope, objectives and participants in the project. This document contains information of reasons and objectives of project, scope of projects, target profits, budgetary information, stakeholder details and plans to face risks involved. Plan phase of a project forms a schedule to deliver the project. Project manager prepares a project management plan with discussion and inputs provided by project team & stakeholders. In organizing phase, material procurement, contractors, vendor finalization and their mobilization is assured. Execute and control Phase is the time to bring the plans into action on ground.

Project execution team execute the activities as per prepared plan in coordination with other teams. Project team face and resolves various unforeseen challenges during this cycle. Controlling is done to maintain the project quality and safety faced in this cycle. Project commissioning with a rigorous check and investigation of all the systems ensures the safe and orderly handover of the unit from the constructor to the owner, guaranteeing its operability in terms of performance, reliability, safety and information traceability. Here, I would like to attract the attention of readers towards the issues which needs to be addressed properly with care. Although the project concept originates through the minds, it needs a realistic, practical, problem solving, can do approach to make it happen. While conception phase, project concept should be discussed among stakeholders with open minds. Capital investments, scope and return benefits of project should be well discussed, understood and accep-ted. Planning should be done after a thorough discussion with project teams of different functional streams and stakeholders and not in isolation. A realistic practical work schedule should be prepared in consultation and should be acceptable to all. Project Management Plans should be reviewed, revised and improved consistently and updated at the end of each project phase. Sometimes people do not take interest in a project until it is in the execution phase and the importance of good planning gets defeated. Early stakeholder involvement is needed during

CSR & COMPETITIVENESS 31 MARCH 2014

planning phase because changes made later in the project will have a greater cost impact. The Execution and control phase, a longest one, consumes the most energy and the most resources. Project team may be encountered with unanticipated events and situations, which they have to deal with. Project execution team should be given sufficient authority and resources to run the site. Sometimes the project owners do not bother about the work load of project team and leaves the responsibility to executor’s head. Without resources & authority, project team is helpless and can not be proved responsible. ‘Control’ as an integral part of project management, should be performed by a team different from the project execution team, so as to independently verify the quality and the efficacy of the work done. While commissioning of project, the checklists are prepared, services are checked. Operation team can be involved and trained during this phase. All documents including working drawings, material & equipment specifications, work manuals, checklists, guarantee certificates etc. should be handed over & should be kept safe for future reference. (Arun Kumar Arya is an B.E (Civil), M.Tech (Foundation Engineering), PGPCM, MIE. He is presently working with a leading steel company in India, and has vast working experience in various industrial construction projects. He is also associated with various technical bodies & institutions.)


BOOK LAUNCH

“Very useful and relevant book for business leaders.”

Emote

Using Emotions to Make Message Memorable As strange as it sounds, very few of the current generation of professional speakers and presenters understand speeches or presentations at a fundamental level. Their toolcentric approach confuses the speech and the tools that are used to deliver it.

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earn how you can deliver a speech that people would remember for the rest of their lives.

Many people fear public speaking more than death. Most wish they could do it better, or at least avoid the sweating, stuttering jitters that plague them before any presentation or speech. Vikas Jhingran has been there. He was so poor at speaking in public that his supervisor wouldn't let him make presentations to clients even when he had done all the work. Surprisingly, few professional speakers and presenters understand speeches or presentations at a fundamental level. Their overly prescriptive approach actually ends up confusing the speech and the tools that are used to deliver it, instead of connecting with the essential part of speaking– that which engages listeners with the message and the emotions that go with it. By focusing on the most important aspect of communication- the transfer of emotionEmote: n Develops an emotion-driven approach that will help you deliver a powerful, effective message despite any perceived handicaps. n Encourages introverts and non-native speakers to find their voices and deliver impactful speeches. n Clarifies the roles of common speaking tools and shows how to use them effectively. In Emote, Vikas presents an emotion-based approach that will change the way you think about verbal communications. Emote will help you gain the confidence you need to stand in the spotlight and ‘wow’ clients or executives, create connections, and get your message across to anyone. In Emote, Vikas lays bare his unique approach–connecting with his audience on an emotional level, rather than subscribing to a ‘right’ way of speaking–which applies equally to one-onone conversations, small team settings, and large audiences.

Vikas says, “This is book is written to help you deliver your memorable speech – sometime that your audience will remember for the rest of their lives.” As strange as it sounds, very few of the current generation of professional speakers and presenters understand speeches or presentations at a fundamental level. Their tool-centric approach confuses the speech and the tools that are used to deliver it. Publisher Information Random House Publisher India Pvt Ltd 7th Floor, Infinity Tower C, DLF Cyber City, Gurgaon – 122 002 (Haryana) www.randomhouse.co.in E: contact@randomhouse.co.in Ph: 0124- 4785695

CSR & COMPETITIVENESS 32 MARCH 2014

Vikas Gopal Jhingran is an MITtrained engineer and researcher who used to suffer from poor speaking skills, due in large part to being both an introvert and an immigrant. He studied public speaking to improve in this area and eventually won the Toastmasters 2007 World Championship of Public Speaking, the first East Indian and only the second Asian to do so in the 80-year history of the competition. Vikas is an engineer with Shell Oil Company and uses his leadership and communication skills to manage multi-milliondollar projects. He also delivers keynotes and conducts workshops to help others become better speakers. He lives with his wife and two sons in Houston, Texas.

Vikas Gopal Jhingran Pages: 222 Price: Rs 250


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