Corporate Social Responsibility- A Glimps & List of Companies with CSR wing:
Business dictionary defines CSR as company’s sense of responsibility towards the community and environment both ecological and social in which it operates.Companies express this citizenship through their waste and pollution reduction processes, by contributing in educational and social programs and by earning adequate returns on the employed resources.” Corporate social responsibility plays a role in a strategic business management concept, and charity, sponsorship or philanthropy.
INTRODUCTION TO CSR
Corporate Social Responsibility is a management concept whereby companies participate in social and environmental concerns in their business operations and interactions with their stakeholders and shareholders. CSR activity is an attempt to align private enterprises to the goal of sustainable global development by providing them with a more comprehensive set of working objectives than just profit alone.
An implemented CSR concept can bring competitive advantages like –
- Enhanced access to capital and markets.
- Increase sales and profits.
- Operational cost savings.
- Improved productivity and quality.
- Efficient human resource base.
- Improved brand image and reputation.
- Enhanced customer loyalty.
- Better decision making and risk management processes.
WHY CSR IS IMPORANT ?
Corporate social responsibility, current times don’t allow for companies to simply be in business for the sake of making a profit anymore. Consumers rely on corporations for goods and services, the level of competition allows customers to make decisions based on several factors, including how much good a corporation is also doing outside of the workplace. Many individuals today are basing their corporate loyalties on how companies are positively impacting their community.
BENEFITS OF CSR
1.A better Public Image:
A corporation’s public image is at the mercy of its social responsibility programs and how aware consumers are of them, the biggest obstacle – education and awareness. According to a study, 9 out of 10 consumers would refrain from doing business with a corporation if there is no corporate social responsibility plan. For example, if a company is heavily involved in the practice of donating funds or goods to local non-profit organizations and schools, this increases the likelihood that a consumer will use their product. Additionally, if a corporation takes great care to ensure the materials used in its products are environmentally safe and the process is sustainable, this goes a long way in the eye of the public.
2.Better & More Media Coverage:
Going along with how the public sees corporation, the amount of positive media coverage a corporation receives is extremely important for business. It doesn’t matter how much a company is doing to save the environment if nobody knows about it. As they say, “it’s okay to toot your own horn every once in a while”. Media visibility is only so useful in that it sheds a positive light to an organization.
3. Fosters a Positive Work Place Environment:
This is short and simple because it’s just common sense – employees like working for a company that has a good public image and is constantly in the media for positive reasons. Happy employees almost always equal positive output.
4. Corporate Social Responsibility– how non-profits benefit:
Corporate giving programs, which can include everything from matching gifts to volunteer grants; from team building volunteer efforts to fundraising events. These types of programs, which vastly increase the public good that corporations are doing, are vital to non-profit organizations because of the great monetary and volunteer implications.
5.Greater funding through employee matching gift programs:
Corporations that offer matching gift programs are essentially doubling donations that its employees are giving to eligible non-profits. A recurring theme here seems to be the education factor of it. These are phenomenal socially responsible programs that benefit both corporations and non-profits, but if they are underutilized because of a lack of awareness, then these programs do little good.
6.Greater time commitments through employee volunteer grant programs:
Corporations that offer volunteer grants, or even offer paid time off to volunteer at non-profit organizations, are bringing in helping hands to eligible non-profit organizations. This is a socially responsible program and is a win-win for both parties involved. Employees of corporations are seen volunteering and donating their time to important causes in the community, and non-profits are receiving free time and volunteer work, which is essential the success of so many non-profits. Volunteer grant programs are another huge reason why corporate social responsibility is important, especially for the upcoming year!
7.Building Corporate Partnerships:
Partnerships are vital to the work a corporation can do in the local community, and important to a non-profit that may not have the resources for major marketing campaigns. Long-term corporate-non-profit partnerships can benefit everyone. For a corporation, a partnership with a local or national non-profit organization improves the company’s image in the public eye, as consumers can clearly see the positive impact a corporation is having on their community. A key benefit is that it makes it easier for consumers to trust a company. A key benefit is the partnership brings additional awareness to the non-profit’s cause.
8.Corporate Social Responsibility helps Everyone involved:
Socially responsible programs are mutually beneficial in the corporate-non-profit world.When working on strategic plans make sure to take some time and look at the programs the company offers or benefits from and how they are working toward a better community and corporate environment for everyone involved.
The Companies with the CSR wing and they are funding in following area:
- Samvaad- A tribal Conclave
- Sustainable Livelihood
- Sports & Adventure
- Environment & Wild life conservation
- Community Engagement
- SHE( Safety & Health)
- Land development & Livelihood
- Sustainable development
- Community Development
- Food & Safety
- Health care
- Environmental & Social development
LARSEN & TOUBRO
- Water & Sanitation
- Skill building
- Water Conservation
- Social & Environmental development
- Community Programs
STEEL AUTHORITY OF INDIA
- Environment conservation
- Health & medical care
- Women’s Upliftment & Empowerment
- Water & Sanitation
- Model Steel villages
- Solar Power
- Calamity Aid
- Vocational Training & Sports
- Preservation of Art & Culture
- Hunger, Poverty , Malnutrition & Health
- Rural Development
- Gender Equality & Empowerment of Women
- Environmental Sustainability
- National Heritage, art & culture