Appco Group India: CSR as a Corporate Strategy

In the recent history, corporate social responsibility is the new added element in the company’s goals and vision. Unknown to many a companies until the recent times, today, it has emerged in every businesses and the approach towards CSR has seen an upliftment within the organizations. And to put it up more officially, the new Companies ACT makes it mandatory for certain businesses to spend profits on the various social welfare activities.

CSR, as defined by the general industry standards, are the voluntary activities undertaken by a company to operate in an economic, social and environmentally sustainable manner. The value of CSR can be estimated as huge and has notable effects on the various functions of the Organization namely; human resources, reputation management to name a few. Ironically, CSR has been highly criticized to be a PR mock activity while only some part of it helps in managing the company image and brand. Now-a-days, companies have been coming forth in supporting and promoting initiatives which have had a considerable positive impact on the society. Various initiatives would include associating and sponsoring the events which are in some way giving back to the society and the stakeholders.

India, as it is, is a developing nation and more than half part of the country is rural. Education has been the top CSR activity that various organizations have taken up with an aim to provide cost free education to the masses. Women empowerment initiatives have been another big issue which many organizations support. Charity for underprivileged children, homeless children, education for children, initiatives for the old aged, improving human health, eradication of hunger and poverty etc form an essential part of the corporate social strategies. Apart from the social responsibilities, companies are coming forth to join hands for supporting the environmental issues and many big Organizations are taking part in research activities, environmental cleanliness activities and many other initiatives ensuring environmental sustainability so as to initiate a 360^o CSR plan within the Organization.

The logical explanation of CSR moves way beyond philanthropy and sponsorships. The society, as a stakeholder to the Organizations, views this as a responsibility to be taken up by companies for ensuring a seamless company reputation. In this process, the Companies get the leverage when it comes to a positive and healthy brand name, which further more helps in retaining employees and developing a good working culture to the internal people as well as o the external entities. Although Government has very recently put down the complete structure for companies to follow, it is still a long way to adopt the various CSR activities and to merge it with the corporate vision and objectives.

The future of business has evolved and Organizations will now have to adopt strategies which will help them sustain the business in the ever changing environment.