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Sunday, May 20th
Corporate Social responsibility makes business sense By Our Special Correspondent BANGALORE, JAN. 18. Corporate social responsibility (CSR) is no more giving handouts to the needy but makes good business sense too, says Madhav Mehra, president of the World Council for Corporate Governance. Speaking to presspersons on the eve of a seminar on "CSR: the key to profitability in the 21st century" organised by the Bangalore Management Association and the Institute of Directors, Dr. Mehra referred to the success of chemicals, mining and tobacco sectors. Purchase decision "Successful corporates with healthy bottom-lines realised that 50 per cent of the purchase decisions are with teenagers and those in their early twenties. These are people with a social consciousness who demand eco-friendly products and packaging and want to know whether the companies they patronise are discharging in their social responsibility. They demand fair dealing and Transparency. Successful companies meet these expectations," Dr. Mehra said."The poor don't need hand-outs; they need education and infrastructure. Even a remote small town becomes prosperous when it is connected with a good road. The Union Government, which spends Rs. 30,000 crores a year on poverty alleviation, can help the rural poor better their lives by creating better infrastructure," he said. `POISED' Dr. Mehra advocates a strategy called "POISED" for corporate social responsibility to be effective. The acronym, he said, stands for "Poor Oriented Innovation for Sustainable and Eco-friendly Development." This will involve steps such as organising public-private partner-ships for innovating products for the poor, introducing robust designs which need lower-skill levels, activating women groups, bringing transparency governance and wider education for entrepreneur skills," said.
"Dr Madhav Mehra is a phenomenon, nothing describes him better."
Ola Ullsten, Former Prime Minister of Sweden at the 8th World Congress on Environment Management, Palampur, 2006"
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Dr Mehra, I just read your commentary on Satyam....You made one of the wisest observations on board failures I've ever read - "It is difficult to understand something when your salary depends on not understanding it".Brilliant!
Ralph Ward, Boardroom Insider
"Dr Madhav Mehra, has played a significant role to bring about a change in the mindset of the corporate world. India will remember him as a great pioneer who foresaw such a need and strove for inculcating a culture of quality in all spheres of activity."
S S H Rehman Executive Director, ITC Group of Hotels
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"I have known Dr Mehra for the last 8 years in my capacity as the Chairman of the Centre for Social Responsibility,..... Chairman of the S.M. Charitable Trust . I am amazed by the energy, enthusiasm and dedication that he brings to every idea he promotes."
P.N. Bhagwati, Former Chief Justice of India
"Rarely does one come across a legend like Madhav Mehra. I have witnessed his dedication everywhere: building community centres for gaddies of Dhauladhar, hospital and school for slum dwellers in Delhi and addressing corporates on the social role of their business."
Dr Sahib Singh, Ex-Chief Minister, speaking at SM Medical Centre, 13.04.04"
"Had Dr Madhav Mehra just been the founder of the IOD, that in itself would have been a piece of work tat the present and future generations would cherish. But by establising so many other organisations, he has really ensured that we respect him as a pioneering figure of all te good that Indian business is striving for."
Javed Husain, Professor and former Dean of Engineering
"Address of Dr Mehra was a unique experience. I aspire to listen to him again and wish Dr Mehra can find time to address youth in the colleges."
MK Yadav, Hindustan Zinc LTD
"Dr Mehra has given a unique dimension to CSR. His interpretation is particularly relevant to us and we must invite him once again to address our top executives"
Hon'ble Carlton Davis, head of Jamaica's Civil Service"
"Dr Mehra's passion comes alive from his speeches"
Uma Arora, Chairman Idam Learning
"Dr Madhav Mehra's keynote address was the most thought provoking"
N A Patil & R B Rajpune
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