CSR for Sustained Business Success
CSR, if treated strategically, has the potential to repay the company many times over.
The new Companies Act has mandated that any company with a net profit of over Rs.5 crore has to allocate 2% of that to CSR (Corporate Social Responsibility) activities. For many companies, for whom this was not a requirement till now, this has created an immense challenge since this is typically seen as an 'expense'. The truth is that this can actually be an 'investment' that will repay the company many times over if the company looks at it not as "CSR" but as "Creating Shared Value" with and in the society in which it exists, and for its own continued sustainable success.
By evaluating the business and operational “Value Chain” of the company, there is a host of evidence which clearly demonstrates that many CSV interventions can be discovered that will enable the company not only to fulfill its societal obligations, but also positively affect its business performance and create greater business success.
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