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A WORLD OF
In this issue:
Fiinovation & IOD at the 9th
International Conference on
CSR
Mainstreaming
Responsibility in
Corporate Governance
www.inova on.co.in
01
In
UN Secretary General
02
03
Universal Education
Gender Equality
OUTCOME
Reduced from 37.2% in 2004-05 to
21.9% in 2011-12
The estimated number of people living with HIV was 2.08 million in
2011, TB scenario in India remains grim with 545,500 deaths in 2013
and India has halved the number of malaria deaths per 100,000
during the period 1990-2013.
Presently, India has the third-largest Internet user base in the world.
REMARK: INDIA'S ACHIEVEMENTS WERE FAIR; HOWEVER THERE LIES A LOT OF SCOPE FOR IMPROVEMENTS
04
Problems:
Large number of Dalit and marginalised children are still out of school
In many cases, person in-charge of mid-day meal scheme sells the provision meant for children
Active discrimination against children from most backward communities by upper caste teachers
Operations:
A group of 15-20 highly educated, trained and committed social professionals are selected.
With an aim of inuencing the rst generation learners, their families and communities,
The SAY teams are trained to create curiosity and generate interest among the target population (both literate and illiterate)
that highlights of their right to achieve a sustainable standard of Universal Elementary education.
To create a ripple among the communities, the teams address the targeted areas (both rural & urban) which are vulnerable
with low literacy rates.
Process:
Team uses
Impact:
It has outstandingly performed in re-moulding Dalit community from rigid mindsets to accepting changes leading to an
improved community.
Created awareness among the masses about the signicance of education in an individual's life.
Reach: 200 grass root activists covered 80-90 villages, 5000 households each day. The Yatra covered more than 5000 villages
before coming to a close.
- Aditi Singh
05
Mainstreaming Responsibility in
Corporate Governance
Corporate governance could be dened as "a system of law and sound approaches by which
corporations are directed and controlled focusing on the internal and external corporate structures
with the intention of monitoring the actions of management and directors and thereby, mitigating
agency risks which may stem from the misdeeds of corporate ofcers. However in today's world, for
corporations the main stakeholders are the shareholders, debtholders, trade creditors, suppliers,
customers and communities affected by the corporation's activities. With CSR moving to the
boardrooms and into the main foray it has received priority among corporations and their boards. CSR
has put under spotlight a parallel 'good governance' model which puts under scrutiny the composition
and behavior of corporate boards. A related but separate thread of discussions focuses on the impact of
a corporate governance system on economic efciency, with a strong emphasis on shareholders'
welfare. There have been various thinkers who have unraveled the layers of corporate governance.
Letza, Szwajkowski & Vinten worked on broadly differentiating between the two perspectives of
corporate governance which were the shareholder and stakeholder perspective.
Mr. Soumitro Chakraborty
CEO, Innova ve Financial Advisors Pvt. Ltd.
(Fiinova on)
However, as one delves deeper in this thought, a point which must be addressed should be to
understand how to facilitate corporate governance process towards more responsible governance
which looks at both CSR and good governance mechanisms. The solution to this layered debate is of
tment or amalgamation of responsibility towards the society by a Corporation. It is a fundamental
understanding that no governance structure, corporation or otherwise can sustain itself without being
responsible enough towards the society at large.
Since time immemorial, the dichotomy between the two schools of thought has existed and will exist
for years to come. However, the confusion gets starker when the paradigm of social responsibility by
the corporation becomes an end product of the prot that is dened in percentage of its allocation but
is not a part of the process that leads to the prot. So, the way forward must look at the need of
embedding and amalgamating Social Responsibility within the system of business. It is important to
understand it cannot be taken care of as a responsibility of an exclusive department but as a
responsibility of every department working cohesively towards the goals.
There have been various events in history that showed us that corporations who have adhered to the
above mentioned philosophy have increased prots and become sustainable over a period of time.
They have also been able to withstand challenging times with the minimum negative impact.
Social Responsibility for the Corporation must not start and nish with allocation of percentage of
prot and to invest in few projects. It needs to extend into the very depth of the overall functionality of
the organization and could lead to devastating results if ignored. The stigma of not adhering to this
philosophy can be brand sustainability, brand reputation & organizational perceptions which could
include both internal and external.
Therefore, Social responsibility and Sustainability is no longer a subject of auxiliary importance but a
stage-setter for organization who are competing ercely in a given space. Hence, the matter is now no
longer a subject of philanthropy discussion but needs to become one of the primary agendas of the
corporate governance structure, to be discussed in detail by the policy makers inside the board room
and the stakeholders outside. There is enough available evidence where companies have done
exceptionally well in case of investments but very poorly on corporate governance, ethics and moral
values which was also the reasons for some of the biggest scams.
It is one thing to imbibe social responsibility through the eyes of a percentile amount of your prot and
it becomes very narrow in case of the impact is concerned. Corporations should not forget that the
consumers are the drivers of any business who are a part of the same society for which the very
existence of CSR prevails.
It is therefore the need of the hour for corporates and especially board room players to realize and
adopt the standard of CSR with a special emphasis on labour policies, transactional policies, quality
check processes, employee's welfare schemes and customer service mechanisms so on.
It is imperative for the business to understand that in such a volatile and competitive market where
survival will be not only by marketing the product but will also be in giving enough importance to the
fact that being responsible as an institution and with value proposition has gone beyond the delivery of
product and services. It is no longer a question of survival but it is now the question of leading
responsibly and surviving.
06
February
20
February
International Mother
Language Day
21 February
Testimonial
It is indeed a pleasure to begin my day reading this newsletter. It is a well
researched and impressively designed document. There comes a small phase
often for about 2 minutes when I get a bit bored thinking about CSR and the
intensity of time it takes to bring about a change but reading such colourful,
informative, analytical and appropriately pictorial documents brings back the
CSR enthusiast in me. Thank you for your continuous efforts! Kudos.
- Nidhi Vatsa
07
United
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Forthcoming Events
Regional Dialogue on Sustainability Science Policy to Support Post 2015 Development Agenda (4th-6th Mar)
About Fiinovation
Fiinovation, a research based organization, is an integrated solution enabler in the CSR and sustainability domain. It is focused
towards enhancing quality across organizational value chain through meaningful innovation thereby ensuring sustainability. It
is Asia's rst proposal research laboratory wherein research is focused primarily on four sectors, which include health, education,
livelihood and environment. The practices: CSR-CSO Partnership, CSR Policy Design & Development, Programme
Management, Impact Assessment and Sustainability Reporting help provide simple solutions to their partners.
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