The nation is gearing towards the electoral battle which is likely to impact the regulatory environment in manifold ways. The companies in India are gearing up to align their people, processes and technologies to embrace the gradual change in the legal and regulatory framework of the country. The country and its people are eagerly looking forward to good times in the near future under the dynamic and visionary leadership of the next Indian Prime Minister.
The organizations and their leaders are busy managing the people, process and technologies to align it with the organizational vision, mission, objectives and the changing regulatory environment to ensure that the organization is dynamically compliant to the CSR regulations.
They are also working dynamically to ensure that CSR can be leveraged in enhancing the brand value in the heart and mind of the customers, and various internal and external stakeholders including regulatory bodies. The CSR activities deserve an enhanced focus and attention and should be seen more from the perceptual view angle of opportunity than a problem or a challenge.
The CSR achievements if projected in integrated brand communications optimally can add multi dimensional impact in the brand value enhancement among the stakeholders. The organizations across the world allocate a stipulated percentage of the profit towards CSR activities. The enhanced allocation of funds towards CSR gives an indicative and decisive message to the investors about the exponential or high rate of growth of business activities.
CSR is gaining an internationally accept benchmark and an index or indicator of the rate of growth or the organization. The recent step of BSE towards CSR index is in concomitance with this global trend.
The organizations and their leaders should focus on adopting business best practices from many developing and developed economies where the knowledge and practice of CSR has reached professional maturity and consolidation and must sincerely endeavour to ensure that CSR is used as a strategic tool and is not abused by any of the internal stakeholders ensuring highest degree of compliance with the latest regulations and allied stipulations.
(Rusen Kumar is the Editor at India CSR. He can be reached at firstname.lastname@example.org)
(Rusen Kumar is the visionary entrepreneur, author and founder of India CSR Network, regularly writes on Corporate Social Responsibility.)