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| Monday, 11 October 2004 |
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CSR, vital in every business - Tarun Das by Sudarshana Perera Corporate sector in Sri Lanka should invest aggressively for skills development of the people without waiting for the government to do it and investing in people is vital to fathom new vistas in the country's economy, said chief mentor of the Confederation of Indian Industries (CII) Tarun Das. Das making the keynote address at the Fourth Annual General Meeting of the Sri Lanka Institute of Directors (SLID) at Hotel Galadari on Friday said that Corporate Social Responsibility (CSR) has become an important component in every business and a grater part of responsibility lies in directors to implement it accordingly. Pravir Samarasinghe, a Director at Richard Peiris also carried away the award of SLID Young Director of the Year. Chairmen, Directors and Managing Directors of Sri Lankan companies attended the event. "If we are to compete with international business giants, we need to update ourselves the tends in the international arena and human resources should be developed while offering considerable exposure to outside world", he said. Drawing some examples from India, he said that Sri Lanka's corporate sector should establish centres of excellence. "We need to take Japan as the role model for the success of our businesses and Indians have imbibed Japanese technology and business models into their manufacturing processes. So India has been able to emerge as the fastest growing economy in the region", he said. "Corporate Social Responsibility (CSR) is a business strategy that works in a world where brand value and reputation are increasingly seen as a company's most valuable assets. CSR built loyalty and trust that ensure a bright sustainable future. By Integrating CSR into one's business as a core value, you are not only making a significant contribution to a better society, but just as importantly, you are recognised for doing so. This has obvious benefits for the company", a spokesman of the SKID CSR Sub Committee said. |
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