CSR? Does it exist??

These days a lot of emphasis is being laid on Corporate Social Responsibilities (CSR). Moreover if you are in export sector, having a CSR program in your facility becomes the need of the hour to get orders from foreign buyers. But how ethical is spending on CSR ?
 
Let’s first understand a few basic things- when a company starts its operations, it generates employment, thereby providing sustainability to the families of its employees, besides also creating thousands of other indirect job opportunities. Isn’t it enough CSR already ? 

You might argue that running a school or a hospital near the industry should be considered as CSR. Yes, but if you are charging fees for the school or the hospital, is it really CSR? Alright, now you might say- well you already earn enough and can afford to do it for free. But are you not getting anything in return? You are building your credibility in the market and loyalty among your employees. Real social responsibility does not need anything in return nor does it require you to promote it in your website as “Our CSR initiatives”. When you do so, it is not really CSR.

But how ethical is CSR with no benefits? Absolutely unethical. You are managing the shareholder’s money- and if you cant earn it for him, you are causing a loss to his wealth! But yes ISR is always welcome- Individual Social Responsibility- If you are really inclined towards society, spend it from your own wallet and don’t think about the shareholder’s money !

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CSR? Does it exist??

by Abhirup Bhattacharya time to read: 1 min
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