Corporate Social Responsibility ( CSR) is a management term that is used to describe a company’s efforts to improve society, in some way. These efforts can range from donating money to non-profit organisations to implementing environmentally friendly policies in the work place. In other words, corporate social responsibility can be defined as a type of international private business self-regulation, that tries to contribute to social goals of philanthropic, activist or charitable nature by engaging in or supporting volunteering or ethically-oriented practices. Though initially it was considered a form of “corporate self-regulation” for some time, over the last decade it has moved considerably from voluntary decisions at the level of individual organisation to mandatory schemes at regional, national and international levels. The four types of corporate social responsibility are philanthropic efforts, environmental conservation, ethical labour practices and supporting volunteer efforts.
CORPORATE SOCIAL RESPONSIBILITY : THE IDEA DISCUSSED
Corporate social responsibility is an evolving business practice that incorporates sustainable development into a company’s business model. It has a positive impact on social, economic and environmental factors. In today’s socially conscious environment, employees and customers place a special importance on working for and spending their money with business that gives priority to corporate social responsibility. As the notion of corporate responsibility expands, it is becoming extremely important to have a socially conscious image. Companies, employees and stake holders, all are beginning to prioritise CSR, when choosing a brand or company. Surveys conducted show that nearly 90% of the consumers surveyed, said that they would purchase a product because a company supported an issue they care about. Acknowledging the importance of CSR, the companies now focus on few broad strategies, discussed below:
• ENVIRONMENTAL EFFORTS : One primary focus of corporate social responsibility is the environment. Most of the businesses, irrespective of their size, damage the environment in some way or the other. Thus any step they take to reduce that environmental damage is good for both the company and society.
• PHILANTHROPY : Business can practice social responsibility by donating money, products or services to social causes and non profit making organisations.
• ETHICAL LABOUR PRACTICES : Treatment of the employees fairly and ethically is another way in which the companies can demonstrate their social responsibility.
• VOLUNTEERING : Voluntarily attending events also says a lot about a company’s sincerity. By doing good without expecting any return, companies can express their concern for specific issues and commitments to certain organisations.
CORPORATE SOCIAL RESPONSIBILITY PRACTICE BY KFM PVT LTD : Kolkata Facilities Management Private Limited (KFM Pvt Ltd) is a trusted and reputed facility management organisations in kolkata, India and we are engaged in offering a wide range of services to our clientèle in diverse domains. As a responsible organisation, we absolutely acknowledge our indebtedness to the society and hence we try to give back something to the society through our CSR program. We have formed Kolahol Theatre Workshop as the corporate social responsibility of our business. This workshop is a platform where we bring socially stigmatised people and train them through theatre therapy, so as to turn them into trained stage actors. We have already worked with transgender people, sex workers from red light areas and drug addicts.