NEW DELHI: Amid the debate over making it mandatory for companies to spend at least 2 per cent of profits on CSR activities, RIL Chairman and India's wealthiest person Mukesh Ambani today suggested improving corporate social responsibility to Continuous Social Business.
"The purpose of any business cannot be only profit. Profit for the shareholders is important. But unless entrepreneurs have a larger purpose and businesses that change lives of millions of people, a sustainable business cannot be created," he said at FICCI's Annual General Meeting here.
"We will have to move from a model of Corporate Social Responsibility to a model of Continuous Social Business through enterprise and entrepreneurship," he said. "For that, we will have to create world class institutions with a soul."
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