Corporate social responsibility is a hot topic now a days. One of the best things that happened to the Indian business scenario is that open market has given rise to healthy competition and companies have realized that to be in market, only quality of their products and services is not enough. There is also a need for creating a goodwill in the market resulting into growing awareness about the benefits of CSR.
No doubt, many renowned corporates are discharging their social responsibility with all good intentions but there are also many companies who talk a lot but with little less action. Infact they forget that CSR is all about giving back to the people, flora, and the environment all that they get from it. What is required is the faith and the will to do some thing good for the sake of the society of the community and not for any gain but the reality remains that today most of the CSR activities of the companies are wholly connected with the direct or visible returns that a company gets from them. This often includes doing no value high visibility activities. Some times companies don’t “invest” money to any community cause without knowing the utilization, returns and sustainability.
Time has come for the companies to erase the word charity from their consciousness and replace it with the word responsibility towards their environment, employee and customer. Infact CSR is a mutually beneficial activity provided, it is practiced in the right manner. At the same time companies need to ensure clarity about either its rationale or the ways in which any activity should be undertaken.
Cover Feature of Dec. 2010 issue of BM is all about this hot topic based on research studies and findings.
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chief editor,BUSINESS MANAGER
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