Corporate Social Responsibility (CSR) has become an important strategic initiative that every corporate establishment needs to understand and implement. It can be defined in simple terms as the intentional inclusion of public or social interest into business strategy. It has been adopted by the corporate world to ensure that every decision taken by a business is of the highest ethical value along with respect to the society, legal compliance and being responsible for the environment. Some experts believe that, treating employees & other humans respectfully, operating with integrity and protecting the environment for future generations are all part of the CSR initiatives. .
Many companies across the world are implementing CSR initiatives and encouraging their employees to take part. Some of the companies try to adopt the concept focusing more on their core business vertical. Indian companies have also been showing keen interest in CSR activities in the past decade. According to a report by Indian Brand Equity Foundation (IBEF), nearly all-leading companies are involving themselves in CSR programmes in the areas of education, healthcare, skills development and empowerment of weaker sections of the society. In fact, the Tata group and Aditya Birla group have been doing business with a focus on society for decades, long before CSR became a popular activity.
Indian IT giant, Infosys is involved in CSR activities through the Infosys foundation. Dabur India focuses on Overall Socio-economic development of rural and urban poor through SUNDESH (Sustainable development Society), a non-profit organization which operates in Uttar Pradesh, Uttarkhand etc. Ramco Systems, as part of its CSR initiative, identifies and awards key talent across the country, with requisites. Recently, the company awarded Ms. Preethi, Gold Medalist at the Commonwealth Chess Championship - under junior girl’s category with a high-end laptop loaded with Chess software.
So, from masses to classes, organizations have incorporated the CSR initiatives according to their capabilities. At present, it is difficult for organizations to be successful without doing their bit to the society. That’s why CSR has become a vital component for any organization to ensure perpetual success and make a difference.