00:002% percentile of your profit given back to the society is not that's not just CSR so it is
00:06not
00:06just 2% and you know this 2% did a lot of good but it also did a lot
00:13of harm if someone wants
00:14to know or that person is not at all interested or not related to this field how should we convey
00:21to them or make them understand that what is CSR okay so first of all you have to understand 2
00:29%
00:29percentile of your profit given back to the society is not that's not just CSR right so
00:37using just 2% is not the CSR no it's not the entire concept of CSR okay okay first of
00:43all we have to
00:43get this thing out of it okay this is not this is not CSR is not only 2% right
00:48so get out of it
00:50in fact I would also go on to stretch the fact that majority of the companies are investing more
00:56than 2% so companies which are doing CSR are not doing it because of the 2% mandate only
01:04a part of
01:05the companies are doing it because they fall into that criteria but that is not the sole purpose of
01:10it so I'll give you a small example examples make it easier for us to understand suppose there is an
01:14industry I'll have to tell you in life it is important to understand what you are not rather
01:20than trying to understand what you are so going with that understanding let's just imagine that you
01:27are a you have a factory which operates on a riverbed okay or operates very near to a river
01:36you discharge toxic chemicals into the river without treatment and downstream villages get toxic river
01:47water to drink and otherwise and it's happening for all legal issues I can't tell you the names and the
01:53rivers but it's happening if you go on search on Google you will find this is happening this is a
01:58very real story yeah now thousands of lives are getting affected but the same company invests 2% in
02:07building up a school here is the dichotomy is the company just because it's giving 2% is socially
02:17responsible nobody on the earth can answer this question as yes that means in one line if I have to
02:26define corporate social responsibility is not a percentile of the profit that you give back to
02:32the society in any way it is how you get that profit how you make that profit so for example
02:40I'll
02:40tell you if you treat your employees well if you follow the law of land if you are adhering to
02:46environment standards if you're maintaining working place ethics and you're also doing what you're
02:54supposed to do under the giving back mechanism of 2% or 3% whatever it is then you are
03:00socially
03:00responsible that means within the paradigm of economic ecology you're absolutely functioning in
03:09sync CSR is not about just a percentage of the profit you give back it is about how you get
03:16that
03:16profit now imagine that same company that same factory that I spoke to you about hmm imagine
03:23revisiting the same factory but now this time every liter of toxic waste liquid waste that it is pushing
03:34away in the river is treated within the plant itself and the toxicity is taken out it is disposed in
03:41the
03:41most scientific manner and the water is recycled and used for all recyclable uses in the factory itself
03:48and no discharge is given to the water and then also the company invests the percentage of profit in
03:54social balance so now they are not damaging environment yeah they are not damaging health
03:59they are behaving in a socially responsible manner and thereafter they are completing that giving back
04:06component of 2% this is where the 2% comes in so whether it is 2 3 5 doesn't
04:10matter but then you're building
04:11these kind of companies are to be called socially responsible this is what is corporate social
04:18responsibility it's a true social corporatism okay so it is not just 2% and you know this 2%
04:24did a lot
04:27of good but it also did a lot of harm in the concept part of it a majority of our
04:33population has now
04:34understood that 2% is a lot of young student I teach in colleges and whenever I ask them what
04:40do you
04:40understand by CSR they usually go back to this 2% definition and then I give similar sort of an
04:46example and try and make them understand and then they get it clear you can't be existing in an
04:52environment where you're violating all the social laws and just by giving a 2% or a 3% you
04:59can't be
04:59socially responsible so this is what I think we have to we have to define corporate social responsibility
05:06as a responsibility of the corporates to behave in a socially responsible manner which includes a
05:14component of giving back to the society if you fall in the criteria of giving back
