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Should firms be mandated to spend 2% of profit on social causes?

Created by : Sonali Sarkar, Trading Advisor, American Express  | 12 30 2010 09:28:33 +0000
Industry : IT ServicesFunctional Area : Business Models(Strategy & Execution)
Keywords : corporate social responsibility social causes organizations profit csr initiative profit booking
Activity:  188 views;  last activity : 01 25 2011 11:41:14 +0000

What do you think guys, should firms be mandated to spend 2% of profit towards social causes? share your thoughts on this...

  
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they do need to,and not only fund some effort for uplifting the socieity has also to b made while executing the projejcts
By mallikarjuna , networking, 3i  | 01 25 2011 11:41:13 +0000
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its mindset but law should be enforced as part of CSR so that society from where this fructification has happened also benefits, source of extraction should be priority for spending same...
By Phani Mohan krishna, Head/VP/GM- Purchase/Material Mgmt, ANAGHA DATTA TRADE  | 01 09 2011 13:00:10 +0000
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yes firms should mandatory spend just 2% of profit on social causes, because it is the responsibility of corporate to take care their stakeholders
By arun sharma, MBA/PGDM student, iasms  | 01 09 2011 11:26:50 +0000
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There should be a mandatory provision in the law to invest at least a certain percent of profit in SC.
By Dr Amlan Ghosh, Teaching, Mc William School  | 01 04 2011 15:59:50 +0000
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You take from Society. You return to society. Most companies have a CSR in their outlook and mission statement. Most of them do spend some money. Govt companies have a mandated amount - but at times it is difficult to spend as this spending also comes under the scanner of 3-Tenders, why this village (closer to your home) rather than that village(closer to my home) etc. But unless there is a whip, people will not return their debt to society.
By V. Srinivas, Freelancer, Information Technology  | 01 04 2011 03:00:44 +0000
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It would be nice, if MNCs can spend some of their profits on social causes.
By Sairam. M, System Administrator  | 01 04 2011 02:08:46 +0000
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Yes. It is better if it is made mandatory.
By Suryanarayan Murthy, Asst Vice President (Corporate Finance), A Hydro Power Project  | 12 30 2010 10:45:30 +0000
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all the entrepreneurs arent like Azim Premzi........it should be mandated for each and every firm. this is just a kind of contribution to the society or better can say repay to the society for the use of various resouces.......so i agree that it should be made compulsory. Thanks Sonali for raising the topic.
By Sourav Ruia, Finance Executive, CISC  | 12 30 2010 10:22:35 +0000
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There shouldnt/cant be any mandate for the Corporates for Social commitments.Let them do it by themselves realizing their capacities n capability. Personalities like Azim Premji(WIPRO) has already set an example for the miserly spending rich honchos.

Also why additional burden. They are already contributing towards social causes in form of direct and indirect taxes and different surcharges for different purposes.  So, no point in asking for a mandatory 2% profit spending towards social causes..
By Sonali Sarkar, Trading Advisor, American Express  | 12 30 2010 09:28:33 +0000
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