The importance of Corporate Social Responsibility

Corporate Social Responsibility (CSR) has become one of the standard business practices of our time. For companies committed to CSR, it means kudos and an enhanced overall reputation – a powerful statement of what they stand for in an often cynical business world. For companies, the overall aim is to achieve a positive impact on society as a whole while maximising the creation of shared value for the owners of the business, its employees, shareholders and stakeholders.

A 2015 study by the Kenexa High-Performance Institute in London (a division of Kenexa, a global provider of business solutions for human resources) found that organisations that had a genuine commitment to CSR substantially outperformed those that did not, with an average return on assets 19 times higher. Additionally, the study showed that CSR-orientated companies had a higher level of employee engagement and provided a markedly better standard of customer service.

Benefits of Corporate Social Responsibility

The benefits of CSR speak volumes about how important it is and why you should make an effort to adopt it in your business.

Some clear benefits of corporate social responsibility are:

  • Improved public image
  • Increased brand awareness and recognition
  • An advantage over competitors
  • Increased customer engagement
  • Greater employee engagement
  • More benefits for employees

Top CSR Statistics – Where do you stand

CSR Statistics - India

Following Facts and Figures will surely make you think

Poverty

Almost half the world — over three billion people — live on less than $2.50 a day. At least 80% of humanity lives on less than $10 a day. The new poverty line for our new age India: a mere Rs. 32 per day for rural India and Rs. 47 per day for urban India.  A Very Big Question – how to end this? Maybe we cannot end soon, but the least that we can do to help the underprivileged is with a decent meal or clothes. Donate!!

Women Empowerment

Women’s economic empowerment refers to the ability for women to enjoy their right to control and benefit from the resources, assets, income and their own time, as well as the ability to manage risk and improve their economic status and well being.

Empowerment of women is a necessity for the very development of a society since it enhances both the quality and the quantity of human resources available for development. Empowerment is one of the main procedural concerns when addressing human rights and development.

Financially empowered women are a “bulwark against societal evils”, Prime Minister Narendra Modi said while interacting with more than one crore women associated with various self-help groups across the country.

Old Age Support

According to Population Census 2011, there are nearly 104 million elderly persons (aged 60 years or above) in India; 53 million females and 51 million males. A report released researchpaperwriter.net by the United Nations Population Fund and Help Age India suggests that the number of elderly persons is expected to grow to 173 million by 2026 and 300 million by 2050.

“Everyone has a part to play for the well being of the elderly, including the government and civil society, communities and families,” said Diego Palacios, UN Population Fund country representative for India, while speaking at the release of the report.

Animal Support

Every year, many people abandon pets, injure animals and these animals are left to suffer or die. There are almost 12,232 pets that are abandoned every year and not many have a future because there is no care for them. With the help of NGOs and few caring individuals, some abandoned pets are given good care and try to search for a good household for them.

Animals also deserve respect and a decent life – because they are a part of nature, like us!!

Hygiene

According to the National Sample Survey Office (NSSO) from a survey conducted in 2012, only 32% of rural households have their own toilets and that less than half of Indian households have a toilet at home. There were more households with a mobile phone than with a toilet. In fact, the last Census data reveals that the percentage of households having access to television and telephones in rural India exceeds the percentage of households with access to toilet facilities. Of the estimated billion people in the world who defecate in the open, more than half reside in India. Due to poor sanitation, India’s sanitation deficit leads to losses worth roughly 6% of its gross domestic product (GDP) according to World Bank estimates by raising the disease burden in the country.

About 48 per cent of children in India is suffering from some degree of malnutrition. According to the UNICEF, water-borne diseases such as diarrhoea and respiratory infections are the number one cause for child deaths in India.

A simple financial support can make a lot of difference to the under-privileged!!

Green Earth

How many trees are in India? There are only 35 billion trees in India to shade a population of 1.3 billion. Among highly populous countries, India (population, 1.267 billion) has a tree population of only 35 billion, leading to just 28trees per person.

Earth is our home. It’s where we live, so we better take care of it! Would you rather live in a polluted dump? Out of all those millions and millions of planets floating around there in space, this is our planet, our little one, so we just got to be aware of it and take care of it.

As an individual, there are many ways to show that you care about our environment. The least we can do is show our appreciation by protecting and preserving or the environment.

Plant more trees, water them regularly, less pollution, save fuel – the least each of us can do!! It is for us and for our future generations!!

References

  1. https://www.financierworldwide.com/the-importance-of-corporate-social-responsibility/#.W-T0NddLjMx
  2. https://www.highspeedtraining.co.uk/hub/importance-of-corporate-social-responsibility/
  3. https://en.wikipedia.org/wiki/Women%27s_empowerment
  4. https://www.firstpost.com/india/financially-empowered-women-are-bulwark-against-societal-evils-says-narendra-modi-to-women-working-with-self-help-groups-4722381.html
  5. https://thewire.in/politics/elderly-population-demographics-india
  6. https://www.quora.com/How-many-trees-are-there-in-India
  7. http://www.greenearth.net.in/