Corporate Social Responsibility (CSR) was a metric on how well a brand interacts with the community and stakeholders. Today the value of being a good corporate citizen goes beyond the price and satisfaction. Most of the reputed foundations scale up their contributions in volumes of multiple initiatives towards COVID–19.
Every company has its own internal policy in regard to structure and methodology it follows for selecting and implementing CSR projects. Each company adopts a thematic area to carry out their CSR activities. CSR strategy illustrates how business can thrive and grow while simultaneously solving some of the world’s biggest challenges.
This is a golden chance for companies to spend their unspent CSR allocation and to use accumulated funds in projects of their choice. COVID-19 is the first global pandemic and is set to be a complex and uncertain phase. Challenges and circumstances vary from state to state.
Since COVID-19 reached India, the focus of CSR companies has been addressing immediate relief activities by giving targeted support to end beneficiaries.
Basic framework and guidelines have to be in place between government and corporate citizens. This is the right time to respond to all the years of concentrating on profits and giving back to the community where it owes much of its earnings.
The dramatic effects on how we will survive in the world post this pandemic. How COVID-19 will affect social impact foundations working on the ground zero. The challenges for corporations/foundations to do good in time where it is most needed to provide an opportunity for societies to meet this ongoing and ever ending crisis.
The current challenge is unlike anything we have seen before; there is no business and economy falling out beyond the reach of the devastating influence of this epidemic.
The major responsibility of CSR is about supporting moral and fundamental needs of the society. Today CSR has become a major part of companies mandatory obligations by maintaining its commitment possible by finding out what works for one.
CSR in its most basic form is an organization’s way of giving back to the community where it belongs. It means organization and a sense of caring.
Recognizing these great global challenges that Govt., employers, workers and whole societies are facing worldwide to combat the COVID-19, CSR role has a very important role to foster positive and meaningful development towards the country.
Business cannot be successful when the society around us suffers CSR has to maximize positive impact and minimize negative impact.
Despite the current challenges organizations are willing to increase their CSR spending, exploring more productive ways of investing their CSR funds in community based development. Prime Minister is however, of the view that since contributions to the states disaster management authority to combat COVID-19 qualify as CSR expenditure, the state should have no problem in mobilizing CSR funding for this noble cause.
This step would immensely support the state government to meet the challenges of COVID-19 more effectively. CSR foresees a silver lining capitalizing their ongoing initiatives and focuses more attention on sustainability reliable initiatives. CSR anticipates painting a picture of redefining and pushing the traditional limitations of what CSR means.
It is time for CSR to initiate efforts to share time, money and support to social, environmental or economic welfare efforts that give a positive impact to India.
Responsible CSR companies have and will do anything possible to protect their people, promoting health and safety on their priority list. Despite the current challenges, companies are willing to increase their CSR spending. The greatest business leaders will by contrast play a longer game to serve the nation.
“When the wind blows there are those that build walls and then there are those who build Windmills.”
(CopyRight@indiacsr)
