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Arun Lakhani And Corporate Social Responsibility (CSR) .pdf

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Arun Lakhani And Corporate Social
Responsibility (CSR)

Corporate social responsibility (CSR, also called corporate
conscience, corporate citizenship or responsible business) is an outline
of corporate self-regulation integrated into a business model. CSR
policy functions as a self-regulatory mechanism whereby a business
monitors and ensures its active conformity with the spirit of the law,
ethical standards and national or international norms. With some
models, a firm's implementation of CSR goes beyond compliance and
engages in "actions that appear to further some social good, beyond
the interests of the firm and that which is necessary by law." The aim is

to increase long-term profits and shareholder trust through positive
public relations and high ethical standards to reduce business and legal
risk by taking responsibility for corporate actions. CSR strategies
encourage the company to make a positive impact on the environment
and stakeholders including consumers, employees, investors,
communities, and others.

CSR is titled to aid an organization's mission as well as serve as a guide
to what the company represents for its consumers. Business ethics is
the part of applied ethics that examines ethical principles and moral or
ethical problems that can arise in a business environment. ISO 26000 is
the recognized international standard for CSR. Public sector
organizations (the United Nations for example) adhere to the triple
bottom line (TBL). It is widely accepted that CSR adheres to similar
principles, but with no formal act of legislation. Chairman and
Managing Director of Vishvaraj Infrastructure Limited (VIL India) Mr.
Arun Lakhani says as a social entrepreneur I always believed being
socially responsible and having a business that not only improves
India’s development but also benefits the citizens of the nation is
extremely important.

It’s ‘People’- the fourth P that makes the critical difference to PPP
(Public –Private Partnership). Ever since the Indian economy was
opened and the process of liberlisation was set in, various private
players added their might partnering with public enterprises in various
sectors. PPP as a concept on paper brings in very good synergy of
Private enterprise efficiency with Public ownership of assets. But in

reality we see a trust deficit between the ultimate stakeholders, People
on one hand and Government & Private 30 years can be a risk unless
people are on boarded. Our answer to this situation is Involve /
Integrate the Fourth P – People – citizens in the PPP Model enhancing
its credibility. PPP can be very successful if the fourth P- People are
integrated in the structure with openness and responsibility of
communicating with larger masses. People as largest stakeholders in
any PPP must participate to monitor the contracts done between the
two Ps. In the current context taking ‘People’ on-board with open
communication & transparency is a business imperative for the Private
Partner rather than a CSR initiative. Nagpur 24x7 and Nagpur 200 MLD
STP Treatment and Reuse started out as business models but they have
the essence of CSR as people were involved in the projects and their
opinions were taken into consideration for the growth and
development for the Water and Waste water projects.

Arun Lakhani Blogs @









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