In recent decades the concept of Corporate Social Responsibility (CSR) turned out to be a vital strategy for companies to survive in a ruthless market environment.
Many companies all over the world are now starting to see the benefit of practicing CSR in their bottom lines.European countries are now seriously engaged in this concept on different levels and even in interpretation of how the concept works.
So I want to ask you people, do you think CSR is necessary today for businesses to flourish?
CSR is intrinsically linked to the concept of sustainable development: businesses need to integrate the economic, social and environmental impact in their operations. It is not an optional “add-on” to business core activities – but about the way in which business is managed. It is behavior by business over and above legal requirements, voluntarily adopted because business deem it to be in their long-term interest. Thus, CSR is a complete business strategy that aims to ensure the long-term viability of the business, by assuming an active role in the development of the community, the economy, and the environment through good business practices. It is not different from being a “good citizen” of a country!
we people really talk about the csr but for company there is nothing like CSR . some example support this. 1. Bhopal gas leakage, 2. mobile tower at residential apartment. 3. Honda Motors. 4.tobacco manufacturing units 5. spill over and lots may which can be counted even in finger tips. thus it can be simply said that the CSR is for their own promotion. By
HEMANT VERMA, Marketing and Branding, NAVNEET PUBLICATION INDIA LTD.
| 07 12 2010 10:30:02 +0000
Yes, of course. The basic thought behind my statement is that if a manufacturer or an industry is going ahead with a consideration linked to CSR, then it will also get benefitted by increase in its brand value besides the humanitarian support that the industry is providing to the society. It should be made necessary because this will increase a sense of awareness among general people and then only they will start thinking about optimum usage of resources...... By
Sharad Singh, Consultant, GENSOL Consultants Pvt Ltd
| 07 02 2010 05:30:25 +0000
Any organization whatever may be the activity it engaged will have to work within the precincts of the society for their growth and sustenance. The society's apprehensions to be taken care of and the beliefs to be held by the organisation to instill confidence about the organisations. Any business company has to function in the society, it has the responsibility towards the society.The restricted economic view of the business is slowly being expanded and CSR is name of the game now.
IN ABSOLUTE TERMS IT MAY NOT BE CONSIDERED A NECESSITY.BUT IT HELPS INITIALLY TO HAVE A CORDIAL ATMOSPHERE IN THE AREA,EARN THE GOODWILL OF LOCAL RESIDENTS, INREASING THE IMAGE OF THE ORGANISATION WHICH WILL BE IMMENSE BENEFIT TO THE ORGANISATION OVER APERIOD OF TIME.
Yes, CSR is indeed necessary for business to flourish. It is indirectly beneficial for the business. Business is give and take policy. We do business by taking things from earth, people & society. So we have to give it back something to them. Otherwise we will have to face uncertainty in the business because without earth & people business will not exist. We have to take care of planet and the people who give us more for our profit.
Yes, if your definition of CSR is taking care of People, Planet & Profits - the Triple Bottomom Line Principle as difined by the Definition of the U.N. of the "Sustainable Development.
CSR is definately important in today's business scenario as these days CSR is more used as Branding strategy or promotional strategy by various companies, and specially in country like India where people are emotional and sentimental, it works quite good in favour of the company. By
Mohammed Sharique Azizi, MBA/PGDM student, ICFAI Kolkata
| 06 29 2010 09:28:02 +0000
Hello Namrata! Thanks for inviting me. I support the fact that CSR is important.There should be moral responsibility of modern enterprenuers. Since they are the one who are enjoying profits.This also create a environment of satisfaction of society towards them.
With businesses going global and immense pressure to deliver every quarter, organizations need to understand that they owe their success to the society. Whatever an organization has achieved it is because of employees and hence it is the prime responsibility of an organization not to neglect its responsibility to a society. With growing inequality between the have's and havenot's it is the duty of an organization to help the needful in any manner and make the world a better place to live in. CSR need not be only in terms of providing facilities as the recent financial crises has shown that people did not understand the concept of CDS and its consequences. Training and sharing information with people who are ignorant can also be considered as a CSR activity
CSR has become an integral part of the corporates. The society helps the business to flourish, so it is the moral responsibility of the corporates to give back to the nature. After all it is the rule of nature to give back what we have taken. By
Varsha K Bhatia, Assistant Professor, H & G H M Institute of Management
| 06 29 2010 05:03:33 +0000
CSR is one of the important business tool in the hand of business society. Todays's indian business community can not identify his benefits to flourish his business goals or objectives. It is true because business organisation is part of society- he take benefits from it and pay for it.
I give advise to every bussinessman he contribute some portion of his profits in CSR.
CSR is one of the important tool for the success of the company in indian society. Today's most of the indian companies are not identify the benefits of CSR in business strategies. To success in achieving his goals or objectives of the company is must be contribute his profits in CSR.
Very true Namrata. We see ITC Choupal, it is a perfect example of CSR being properly utilized. CSR is also used as a medium of Advertisement & in creation of a Brand image. It has become necessary to initiate such activities giving your business to reach to a large set of customers. By
Rohan Raosaheb Shirke, Financial Analyst, Mortgage Industry Advisory Corporation
| 06 28 2010 15:06:51 +0000
CSR in today's light speedy technological world is very necessary. As companies have huge amount of customer to serve to, which can be accomplished with the means of CSR By
Rohit Sharma, Rails Developer, raw engineering inc.
| 06 28 2010 14:26:17 +0000
CSR is very necessary one in the business of all over india which was very supportive in marketers. so keep on the ethics By
raja , mentor, einflexion pte ltd
| 06 28 2010 11:28:28 +0000
Hello Namrata, I agree with you. Certainly this will help to increase the business volume. The society will also appreciate the responsibility by the corporate. Hope all the corporate will take your suggestion and follow in practice.
I support your views, since CSR will enhance the reputation of the companies which in turn helps to get more business. If there is reputation, the company's image & goodwill will go up. When the company grows, it is good for both the employer & employees.
Amongst the multitude of facets of society, business and industry is merely one. Being an integral part of society, companies/organizations can only be shortsighted if they believe and practice denial of their responsibilities towards society.
This lack of CSR can and frequently does adversely affect the business - more so in a multi-national environment. There are numerous instances, here in India and worldwide, where companies have lost out on business continuity for existing operations and business development in new territories because of their past performance in the area of CSR.
Apart from the moral and ethical issues that ought to drive CSR, purely in terms of business sense CSR ought to be a driver amongst the traditional other factors. A look at most (though not all) of the successful business will show that succcessful companies/organizations are those who practice CSR in spirit - not the eye wash kind...
Yes. It is a great marketing tool used to create the perception that "we are good people to deal with". An organization (or individual too) cannot afford to be seen only as “Grabbers” or “Takers” or “Receivers” always. Hence it has to create a perception that It is a “Giver” or “Provider” to the society. This automatically tilts public opinion in its favour. Hence, it creates a positive preference in a buyer’s subconscious mind for that company’s product.
CSR in todays arena of smart and well informed consumers is the only way of business to differntiate themselves from others and have top of the mind recallabiltiy...CSR is the safer way of marketing, but while u do CSR u do need to understand one thing, the level of interactivity the activity can offer to your consumers and potential consumers, for instance take aircel's save tiger's initiative, it wasn't that much of an impact on sales and the hype it created didnt lasted long,for a business to flourish and take true advantage of CSR,its important to have solid foundation and idea that can involve the people its targeted to and those who are interested in.CSR if done in aa right manner can not only save huge costs to compnay but can build a brand that cannot be even created through other means,people remember those name better with whom they have got a chance to interact... By
Avadhesh Sharma, Client Servicing Executive, Madison Communication
| 06 26 2010 11:37:23 +0000
I support Namrata on the subject of CSR. Actually this works as a usp for the company and it helps geting further decessions in favour of the company. So in other words it is actually a longterm business strtegy.
CSR is not a holistic approach for the development of business but it is a responsibility that all organisations must exrcise to contribute something in the development of society. By
HARA PRASAD MISHRA, Information Systems(MIS)-Manager, TRIPTI
| 07 04 2010 15:51:48 +0000
I dont think CSR is all that important for the growth of business. Indeed it is much needed for the country like India to develop. The Indian corporates have a greater responsibility that just CSR. If anybody reads the report of the Human development index published by Asian Development Bank and world Bank one will feel irritated. Our country is growing at around 8-9%. Who is making the money? Does corporate profit needs CSR? I feel no.
A business itself is linked with csr. Its all about relationship. If you have the good quality product,Suitable price Range, good supporting stuff and healthy relationship with customers and suppliers then the business will flourish automatically. By
Shiladitya Bhattacharya, MBA/PGDM student, International Business School
| 06 28 2010 09:53:32 +0000
Feeling responsible OR just doing for the sake of name-fame, hugely differentiate the end result, you would agree.
And while there may actually be only a select few who mean to carry CSR as a RESPONSIBILITY.
This clarity is available to most customers and associates to enable understanding and deal accordingly. So have doubt if it will impact the business unless the intent is loud and clear.
Do things rightly and CSR is automatically done, pay your taxes, duties on time, dont try and avoid taxes and CSR is already done. Treat people with human touch and CSR is done
The first responsibility of a Business is towards its' Loyal & Future Customers. To give them the Best Product, Best Service, Best Value for Money... these are the Basic Pillars on which aBUSINESS FLOURISHES.
CSR...is a different subject all together. A subject which comes into foray once a Business has Flourished & it has the Capacity to absorb additionalSOCIAL BURDEN.
YES...it is neccessary but it will not Flourish a Business. It will Create a Good Image in the long run, no doubt and will also give aFEEL GOOD FACTOR.
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