The CSR concept stems from the philosophy that a company reaps benefits from the environment in which it operates and the society to which it belongs.

CORPORATE SOCIAL RESPONSIBILITY

CORPORATE SOCIAL RESPONSIBILITY

The CSR concept stems from the philosophy that a company reaps benefits from the environment in which it operates and the society to which it belongs and hence it is duty bound to provide for the upliftment of the society by doing more than by just giving employment.

CORPORATE SOCIAL RESPONSIBILITY The benefits of CSR are: Makes the company a preferred employer. Retains customers and greatly contributes to the

customer loyalty with the belief that upliftment of the society is taken care.

Keeps the work force happy with a sense of achievement and work satisfaction.

It also acts as a tool in attracting investments and funding opportunities.

It greatly increases the reputation and standing of the company.

It generates good publicity and pride for the company, its management, shareholders and the employees.

CORPORATE SOCIAL RESPONSIBILITY

Applicability: As per Clause 135, CSR is mandated for

the following companies: Companies having net worth of Rs.500

Crores or more or Companies having turnover of Rs.1000

Crores or more or Companies having a net profit of Rs.5

Crores or more. CSR is applicable to all companies

irrespective of the fact whether they are private or public or listed.

CORPORATE SOCIAL RESPONSIBILITY

CSR Activities, specified in Schedule VII includes

Eradicating extreme hunger and poverty, promotion of education, promoting gender equality and empowering women, ensuring environmental sustainability, promoting employment enhancing vocational skills, social business projects.

FRUGAL INNOVATION

Frugal Innovation Frugal innovation, in a nutshell refers

to making do with what one has to solve one’s problems (also implying a certain degree of improvisation).

In a business context it means bringing innovative products to market despite limited resources.

Frugal innovation results in great value: no-frills, good quality, functional products that are also affordable to the customer with modest means. 

Frugal Innovation Examples of Frugal Innovation:1. Tata Nano - Equipped with only the bare

essentials, the car is mainly aimed at the domestic market.

2. Dabbawalas - collect freshly cooked meals in boxes from the homes of Mumbai residents and deliver them to the workplace for a (very) modest monthly fee.

3. Cloud computing - eliminates the need for expensive local storage on computers, and optimizes the use of remote data servers due to scale advantages.

Frugal Innovation Examples of Frugal Innovation:4. Amma Canteen, Amma Theater

Complex, Amma Medicals, etc.5. Microfinance business.6. Chotukool – Godrej.

THE FORTUNE AT THE BOTTOM OF PYRAMID

ICT4SED 122008 Sem

The fortune at the bottom of Pyramid - Pyramid for India

T1

T2

T3

T4

T6

Population in million

10 mil

50 mil

150 mil

200 mil

550 mil

Purchasing Power> 5 lakhs

3 to 5 lakhs

1 to 3 lakhs

50K to 1 lakh

less than 50K

SIX SIGMA

SIX SIGMA Six Sigma is a management philosophy

developed by Motorola that emphasizes setting extremely high objectives, collecting data, and analyzing results to a fine degree as a way to reduce defects in products and services.

The philosophy behind Six Sigma is that if you measure how many defects are in a process, you can figure out how to systematically eliminate them and get as close to perfection as possible. In order for a company to achieve Six Sigma, it cannot produce more than 3.4 defects per million opportunities.

SIX SIGMA Benefits includes: 50% process cost reduction, cycle-time improvement, less waste of materials, a better understanding of customer

requirements, increased customer satisfaction, and more reliable products and services. It is acknowledged that Six Sigma can be

costly to implement and can take several years before a company begins to see bottom-line results.