There is an increasing realization within the Corporate communities that they have to contribute to the society around which the corporations operate. However, the phrase Corporate Social Responsibility means different to different corporations. Some consider it necessary for business sustainability, while others term it as corporate citizenship.
While there might be different names for it, the crux is giving back to the society in which these corporate thrive. The corporate derive all its resources including men, machine, and money from the society. No company works in isolation. The actions of the corporate affect not only itself but also the society at large. It is hence the moral responsibility of these organizations to part with a percentage of their wealth for common good.
Aim of CSR
While each program may have its own specific aim, the general idea is social welfare. There are numerous ways in which it can be done. Each company does it in its own way and at a different scale. It is not a legal responsibility and is taken up voluntarily by the company. Some companies prefer to just contribute financially, however, there is an increasing realization within corporations that mere financial help is not sustainable in the long run.
To bring about a change in the society proper implementation and rigorous follow-through is as important. Hence many corporations have created trust or foundation to contribute not only financially but also in taking part in the implementation of the programs. This brings in an organization and focus to the development work. In other organizations, there are multidisciplinary groups which function in cohesion for the CSR aim.
What are the different types of CSR Initiatives
The scope of CSR initiatives is widespread. These initiatives range from various social issues like quality education program for underprivileged, women empowerment (education, employment and general well being of women), rural development in India, health and sanitation (providing clean drinking water and wholesome food to all), development in backward/tribal areas, providing employment opportunities to less privileged strata of the society.
More often than not it also focuses on environmental problems like increased pollution and reduced green cover etc. It also emphasizes on current short-term problems like helping people in a natural calamity, rescue, and rehabilitation.
CSR is an ongoing exercise. It cannot be a onetime effort. It has to be embedded in the basic culture of the organization. Many Organisations link this to their business goals hence providing seriousness, human resource development in India and continuous impetus to such objectives. Effective CSR planning and implementation can go a long way to improve the situation of the country.
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