Corporate Social Responsibility (CSR): Emerging Trends
Amity Business School of Amity University Madhya Pradesh, Gwalior conducted a students’ seminar on “Corporate Social Responsibility (CSR): Emerging Trends” on 25thMarch, 2014, in the august presence of Col. Rahul Kapahi, Plant Head Punj Lloyd Limited, Malanpur Gwalior. Seminar started with the address of Lt. Gen. V.K.Sharma, AVSM (Retd.), Hon’ble Vice-Chancellor of Amity University Madhya Pradesh, Gwalior. With his erudite thoughts on the topic he covered almost all the latest developments in the field of CSR. According to Gen. Sharma, CSR is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby a business monitors and underlines its active compliance with the spirit of the law, ethical standards, and international norms. CSR is a process to embrace responsibility for the company's actions and aid society through its activities for the welfare of environment, consumers, employees, communities and stakeholders. The roots of CSR lie in philanthropic activities (such as donations, charity, relief work, etc.) of corporations, globally. The concept of CSR has evolved and now encompasses all related concepts such as triple bottom line, corporate citizenship, shared value, corporate sustainability and business responsibility.
Every country has its own guidelines for its corporate regarding corporate social responsibility. In Companies Act, 2013 the mandate for corporate social responsibility has been formally introduced to the Boards of Indian companies. The challenge is to build a society which provides equal access to opportunities, negates disparity and is a collective responsibility of all its citizens. This Act presents an opportunity to stand up to the challenge. The Act encourages companies to spend at least 2% of their average net profit in the previous three years on CSR activities. The Companies Act,2013 has brought the idea of CSR to the forefront and through its disclose-or-explain mandate, is promoting greater transparency and disclosure of companies’ philanthropic activities.
In his keynote address the Chief Guest Col. Rahul Kapahi, raised some serious issues of the current practices adopted by corporate houses for CSR. He put forth the industry’s point of view regarding the legislation on CSR.
Four significant presentations were given by the students of M.B.A – II semester which covered all the sub themes of the seminar. Following are the titles of the student’s paper presentations- Entrepreneurial Thinking
CSR &Current Practices by Corporate
CSR for Survival or Growth
CSR Challenges& Limitations
A question answer round was conducted to quench the thirst of curiosity of the participating students of Amity Business School, Amity Law School and Amity School of Engineering of the Amity University Madhya Pradesh.
Participating students were rewarded with the certificates distributed by Chief Guest and Hon. Vice- Chancellor of AU MP.
The seminar received an overwhelming response. Apart from the dignitaries like Col. Rahul Kapahi, Plant Head Punj Lloyd Limited and Chief Guest of the seminar, Hon’ble Vice-Chancellor Lt. Gen. V.K. Sharma, AVSM (Retd.), Prof. (Dr.) R.S.Tomar, Dean Academics, Dr.Anil Vashisht Dy. Director ABS, various HOIs, members of faculty and large number of students participated in the seminar.
The Seminar culminated with a word of thanks given by Dr. Anil Vashisht, Dy. Director of Amity Business School and the convener of the seminar. Mr. Rajiv Diwedi, lecturer ABS contributed as a co-convener of the seminar.