Every organization out there wants to contribute to their community and society in some kind of way. However, there should be a balanced approach to align a company’s social and environmental activities with its business purpose and values.
You can refocus your company’s CSR activities as a systematic process for accelerating business goals. The well-managed companies seem less interested in totally integrating CSR with their business strategies and goals than in devising a cogent CSR program aligned with the company’s purpose and values. Check out the principal parameters of CSR for an organization:
Philanthropic endeavours that are not designed to produce profits or directly improve business performance. Examples include donations of money or equipment to civic organizations, engagement with community initiatives, and support for employee volunteering.
Candor TechSpace Gurgaon Sector 48 conducts regular CSR activities in and around Delhi. They organized a tree planting drive recently.
If you are looking for a commercial office space for lease in Sector 48, Gurgaon choose Candor TechSpace.
CSR activities under this category are coupled with existing business models to deliver social or environmental benefits in ways that support a company’s operations across the value chain, often improving efficiency and effectiveness. It might or might not result in an increase in revenue. Examples include sustainability initiatives that reduce resource use, waste, or emissions, which may in turn reduce costs; and investments in employee working conditions, health care, or education, which may enhance productivity, retention, and company reputation.
Candor TechSpace Gurgaon Sector 48 conducts various projects related to sustainability and environmental biodiversity.
Reformed Business Model
CSR activities under this category form business specifically to address social or environmental challenges. Improved business performance is predicated on achieving social or environmental results. Hindustan Unilever’s Project Shakti in India provides a good example. Instead of using its customary wholesaler-to-retailer distribution model to reach remote villages, the company recruits village women, provides them with access to microfinance loans, and trains them in selling soaps, detergents, and other products door-to-door. More than 65,000 women entrepreneurs now participate, nearly doubling their household incomes, on average, while increasing rural access to hygiene products and thus contributing to public health. Its success has led Unilever to roll out similar programs in other parts of the world.
The valuable brand reputations of Tata in India, Grupo Bimbo in Mexico, and Target in the United States, to name just a few, are built-in part on those companies’ philanthropic and community engagement.
In case of IKEA, Its People & Planet initiative calls for its entire supply chain to be 100% sustainable by 2020, even as the company aims to double sales by the same year. This aggressive goal is driving the development of new business models to close the post-consumer recycling loop. IKEA will have to radically alter how it designs furniture and, even more important, devise new models for collecting and recycling used furniture.
These are some of the approaches to doing CSR activities.