07 Feb, 2019

CSR Explained: Corporate Social Responsibility is an oft repeated term in corporate parlance for almost 5 decades now. Broadly speaking, it means a policy change through which companies integrate social and environmental concerns by donating money to nonprofits and to implementing environment friendly policies. CSR Summit 2019 organized by Pleasin Strides Foundation is an important platform to showcase companies work in different intervention areas.

CSR aims to promote ethical business that remains socially relevant to its stakeholders, employees and the communities it wishes to impact in the longer run. Though there are various definitions of CSR, CSR in the true sense of the word extends beyond compliance & regulatory requirement and engages in social good which is beyond the interest of the business and law that governs it.

Through CSR Summit 2019, Pleasin Strides foundation wants to create a dialogue between industry and foundation to close gaps that might come during a successful implementation of CSR activities. It is important to note that work of CSR goes beyond just carrying the CSR work; it needs to create a tangible social good to the communities involved that can be quantified over a period of time.

Why CSR is in need more than ever: The importance of CSR in today’s times is more so because of the following reasons.

  • It creates a continuous commitment by businesses to contribute to the economic development of the workforce and their families.

  • It supports communities based activities through monetary based contributions to charities or civil society groups.

  • It creates an ongoing work relationship between various stakeholders: Corporate, NGOs & the Government.

What is the way forward?

CSR Summit 2019 plans to address and state few of the possibilities to the risks and challenges that CSR faces.

The CSR setup needs to ensure Personal ethic of head of NGOs and Social Enterprises including Corporate.

The CSR setup needs the development of legal frameworks that require management of the social impact of business activities.

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