Media Reports

SEMINAR ON "Corporate Social Responsibility - Myth or Reality"

24th July 2004

The city based B-School, IMIS has organised a Seminar on 24.07.04. The topic for discussion was "Corporate Social Responsibility - Myth or Reality". The session began with an opening speech by Dr. K.K. Beuria, Advisor, IMIS. He stated that CSR is important in the present conditions since even fortune 500 companies lost their sustenance in its absence. The Hon'ble Director, IMIS, Shri H. K. Patnaik expressed that the corporate house should play a major role in Social development. They should have a plan to reduce poverty and increase the buying power of the consumer. Hence, social responsibility could be discharged in areas like education, healthcare, aids awareness, environmental pollution etc.

According to Prof. Anand B. Singh, Principal, NISWASS, Bhubaneswar, CSR is assuming greater significance in this era of liberalization, privatization & globalization. Dr. Singh, who very often touched upon the Gandhian thoughts and approaches, told that the importance of CSR has been deeply rooted to in the corporates. The growth and sustainance of a company depends upon the qualities of corporates. They should be supportive and there should be social accountability. Companies should be obliged towards law and community, health, housing, empowerment building measures, etc. with more changes being brought into information and communication technology. He also added that goods should be for masses and not for classes. Equilibrium should be maintained between the different sections of the society for common good.

Dr. B. P. Patra, Associate Professor, XIM, Bhubaneswar said that the knowledge provided by educational institutions should be properly applied in the corporate world. The present CSR deals with Ethics, Legal and Economic aspects. However, Philanthropic aspect is not discarded as a whole since it lies at the discretion of the organization if it should be treated. Moreover, organizations should be more focussed upon utilization of the opportunity capital which companies of Human, Natural, Social and Cultural Capital. Thus, by being social every business organization can gain better public relations.

Dr. Upadhyaya, Director-P&A, NALCO who is a luminary from the corporate would expressed clearly that every business organization should have respect for its employees, community, shareholders etc. The community wants that the organization should perform beyond their historical roles by contributing towards social goals. Money spent on social activities is not just an expenditure but an investment. Besides he also felt that recycling measures and installation of environment friendly machines can clearly depict the environmental concern of any business organization.

After the speakers had expressed their view point on the above topic an interaction session of an hour was held where questions were invited and answered by the speakers. Finally, the Seminar ended after receiving the vote of thanks from a student