CSR Seminar Explores the Differences Between Increasing Profit and Maximising Value
At a seminar aimed at improving understanding between the public and private sector, Mr. Paul Mak, President of Mary Kay (China), gave an insightful presentation on the differences between increasing profit and maximising value for society. Introducing Mary Kay’s broad commitment to Corporate Social Responsibility (CSR), the event provided an opportunity for the exchanging of ideas and experiences in terms of what social responsibilities companies have and how they can draw on all of their assets and facilities – not just profit – to implement effective programmes.
Following the launch of a joint programme to promote entrepreneurship among ethnic minority women initiated between UNDP, Mary Kay and the All-China Women’s Federation in September 2011, the event comes at a time when UNDP has announced its intention to engage more fully with the private sector through a new mechanism designed to assist Chinese enterprises enhance their ability to perform CSR by facilitating the exchange of successful experiences with other developing countries. Under the framework of South-South Cooperation, this initiative will seek shared solutions to global challenges through pilot ‘pre-departure’ CSR training for Chinese companies investing in other developing countries.