The strategic dimension of CSR
Brand India organized a fireside chat on Atma Nirbhar Bharat and the contribution of CSR in making New India, where Brig Rajiv Williams, Corporate Head – CSR Jindal Stainless Limited Group shared his views. The session was moderated by Mr. Sandeep Simon Behera, Director Branding & Promotions Karunya Deemed to be University.
Sharing his views on the subject Brig Rajiv Williams said, “CSR by definition, has a lot to do with the ‘Triple Bottom Line Accounting Framework, which incorporates three dimensions of performance: ‘Social, Environmental and financial, commonly referred to as the 3Ps – ‘People, Planet and Profit’. When we deep dive into the rudiments of engagement, the Social aspect that is ‘People’ remains central and constant in the Sustainable Development Agenda, because the other 2Ps, Planet and Profit have a direct impact on the first ‘P’ People. It is equally important for Corporations to understand that it is all about a continuing commitment to behave ethically and contribute toward the overall economic growth by improving lives of the workforce, their families, communities and societies at large.”
With an excellent sustainable economic development framework in place, the industry must leverage the Social good factor by promoting various communities based projects and further ‘Employee Volunteering programs, which will establish a link with the workforce and the community who are part of the product supply chain. This gives the employees and the management an opportunity to get connected with each other as also with their target audience, Whoever is the target of engagement, the bottom line in the realm of CSR is to engage and connect with people and link them with the threads of ‘Head and heart’ by speaking ‘language of the heart’ and making them a party in all development through a community-based participatory approach.
Indian Industry over the years has been into charitable giving – sharing their wealth for goodwill essentially and subsequently for growth of the business. While there were exemptions from taxation in such donations, the intent remained at supporting communities. Over time, the act of just giving transformed into the act of social investment, when the concept of Gandhi’s philosophy of ‘Trusteeship’ found favour with many corporate leaders. However, with the ‘Rights’ issues picking up momentum with more informed societies, the benefits of community investments helped in finding solutions to various labour issues. The labour unions had a strong voice and are important stakeholders in a consultative process through the essentials of collective bargaining and freedom of expression. Such realization has dawned on Corporate India as they have understood the benefits of dialogue and that has resulted in opinions in favour of corporations and the understanding on addressing community needs through community-led projects gave rise to Corporate Social Responsibility.
