Corporate Social Responsibility encompasses the Company’s philosophy towards corporate social responsibility and lays down the mechanism for undertaking socially useful programs for welfare & sustainable development of the community at large.
To manufacture the products which are economically viable to all the segments of society in India. To bring out the innovative pharmaceutical products for the most challenged ailments. We want to emerge as a team thoroughly devoted to our goal with the best utilization of our skill and remain committed to the efforts.
To create a benchmark in the Pharma fraternity and extend the horizons throughout the globe. To emerge as a market entity defining our phenomenal products and expand into a large hemisphere with inculcating perseverance and discipline in our organization.
The Corporate Social Responsibility has been formulated with the following objectives:
1.Focus on quality Product:
The Company believes in delivering high quality products to meet the needs Of the society.
2.Serving the Society :
Giving back to the society and fulfil their needs is a main priority for the Company. The Company believes that the health of the human being is most important, therefore we intends to concentrate on the communities immediately around its areas of operation and support their upliftment. We are also arranging the awareness programs for Group of Community, NGOs, Trust, etc. for their better health.
The Company wishes to introduce interventions in the communities that address critical needs and can become sustainable over a period of time.
Leveraging the Company’s internal resources such as Science, Scientifics Inputs’ for awareness of Society, marketing, financial, human resources and products to maximise impact in social initiatives.
Our Responsibilities as being Corporate Company .
(A) Towards our communities :
We will involve communities surrounding our operations to bring about a positive change in their lives through holistic, sustainable and integrated development.
(B) Towards our customers :
We will build gainful partnership with the customers to understand their needs and provide right product and service solutions. We will adopt and actively encourage the best and fair business practices and shall endeavour to build solid bonds with them.
(C) Towards our Business partners:
We will support our suppliers to cultivate ethical and fair business practices and give preference over others to those who demonstrate this.
(D) As a corporate citizen:
We reaffirm our commitment to conduct our business with Environmental accountability. We will endeavour to adopt environment-friendly technologies and energy efficiency in entire operations while continuously monitoring and reducing emissions that cause pollution.
(E) Towards our employees:
We will foster a work culture with high ethical principles and standards and encourage our employees to perform with total integrity, commitment and ownership. We will do all we can to support their professional growth and recognise high achievers. We will continue to raise the bar of our standard. We recognise that our employees and contractors deserve to work in safe and healthy work environment and will make it our responsibility to ensure zero harm to people.
|Stakeholders||Role / Function of the Stakeholder|
|Internal||Employees : Employees can volunteer for, champion causes and implement the Company’s CSR initiatives.|
|Management : The management will set the vision for all the CSR initiatives. They will ensure compliance and adherence, encourage innovation and oversee the implementation of the CSR activities.|
|Doctors and Patients : Bios Lab’s network of doctors and hospitals will be encouraged to participate in the CSR initiatives by contributing their time and expertise and encouraging positive healthcare practices amongst patients. Patients are the end consumers and important stakeholders for the Company. CSR initiatives may be to directed towards the benefit of this group.|
|Government : Bios Lab could collaborate with local and national Government agencies to implement the programs and could also provide support to existing government schemes within the causes that the Company aims to support.|
|NGOs and social enterprises : Bios Lab could seek help from NGOs and social enterprises with conducting community needs assessment studies, feasibility studies, implementing the CSR initiatives as well as providing monitoring and impact evaluation support.|
The salient features of the Corporate Social Responsibility comprises of:
1.CSR philosophy of the Company
2.Causes that the Company plans to support over a period of time
3.Specific CSR programs and strategic initiatives
The Company intends to undertake its corporate social responsibility in a strategic manner.The Company will leverage its financial and human resources, networks and expertise to Create maximum impact for its stakeholders.
This sub – section contains the potential causes the Company may take up as a part of its CSR activities. The table also contains the programs that the Company wishes to undertake along with the expected objectives of each program.
The Company may conduct a pilot for each of the selected programs, identify issues, if any and address them before scaling up to the desired level. The programs may be implemented by the Company in collaboration with program management consultants and/or vendors for providing Products/services.
- Healthcare Awareness program for the Community to aware about care needed to be healthy.
- Increased access to credible information that is not easily available in Society.
- Planning to increased chances of survival due to early detection.
- Increased number of institutional, Club, Trust and NGOs for awareness about health.
- School health services Poor infrastructure and healthcare services.
- Increased awareness regarding sanitation issues De-addiction High prevalence of addiction: Substance and / or alcohol De-addiction
- Blood donation camps and Free Check up for the Community.
- Scientific books and Materials for Public awareness in different language.
- Scientific media and E-technology to aware the society.
- Waste management.
- Paper Less technology to support the Environment.
- Socio-economic development.
- Training to youth, women and children Lack of facilities for vocational training, high prevalence of youth unemployment Vocational training to the youth, school students and for women.
- Increased employment rates, enhanced incomes for the community.
- Empowerment of the youth and its positive impact on development of the community.
- Relief and support towards community Rural Development and Rural area awareness campaigning.
Most of the CSR activities of the Company aim to improve the lives of the community and the Company will continue to be responsive to the needs expressed by the community, either explicitly or otherwise.
The monitoring plan for bios Lab’s CSR programs will include the following:
The Company will decide certain targets to be achieved for impact generation, which will also be in line with the Company’s mission and vision.
For each of the programs, the standard monitoring and evaluation framework would be developed.
The CSR Management team would submit timely performance reports in the format and manner that has been agreed at the beginning of the project execution.
The CSR management team will review the reports and engage with the implementing agency, if required to ensure that the programs are on track. The CSR team will submit a timely report to the CSR task
Force which in turn will submit it to the CSR. The report will cover –
Progress of each program vis-à-vis the timelines plan and budget
Performance of the external partners
Problems encountered and solutions if implemented
Estimated amount that will be spent till the end of the year.
The CSR Committee will review the progress from time-to-time and provide the Board with a report on the CSR initiatives. The Committee will also review the CSR policy and ensure that it is current and relevant. Changes, if any, will be placed before the Board of Directors for approval.
The Company will ensure that baseline statistics are collected before each program is rolled out and data is collected on an ongoing basis to track impact. The detailed project plan of each program will also include measuring specific metrics and its comparison with the baseline metrics. All such impact analysis will be reported to the board of directors.
The CSR activities of the Company will not include the activities undertaken in pursuance of normal course of business of the Company. Any contribution directly or indirectly to any political party or any religious groups will not be considered as CSR activity.
Bios Lab Private Limited is committed to ensuring the implementation of the proposed CSR programs in order to bring meaningful and sustainable development of communities. The Company will leave no stone unturned in ensuring that it contributes to the society, which is an integral stakeholder for it.