Corporate Social Responsibility is a
very old concept and it has undergone changes after the Indian Companies Act
2013. The main function of CSR by a company is to address the social need and
contribute to it. There are several NGO for CSR in Noida who address several issues and channelize their funds.
They can decide on any cause that is a core area of work or something very
different from their focus area. The ways of addressing these social
responsibilities have changed over the years. Nowadays, the companies not only
allocate funds but also involve their employees and also institutional
philanthropy to contribute to the social cause. It is also true that of late,
the companies are planning for long term value for the organization and
society.
The most basic rule according to the
2013 Companies Act is to allot 2% of their annual revenue for the welfare
activities done through CSR. It is essential that they have to integrate their
social welfare through CSR activities into their overall business strategy. The
four key factors that are responsible for this activity are the Stakeholders,
the social cause, the business, and the compliance. Let’s see about their
involvement in CSR activities done through NGO for CSR in Noida here.
Ø First of all, compliance with the social
laws, environmental laws are essential and this is also laid down in the
Companies Act 2013. Compliance in all forms should be done. Then only your goal
will be achievable.
Ø The major objective of the company
earning revenues above the specified limit is to make them address the social
cause and contribute to society and bring the necessary change.
Ø They have to align any of the social
causes and work in compliance with the national and international organisations
who work towards it.
Ø Before choosing any cause the company
must analyse the implementation partners, impact measure systems, and
standardize reporting patterns. The main point is to concentrate on the
philanthropic approach rather than on a profit-based approach.
Ø The three main stakeholders who need to
be considered are the employees, local community and customers. The employees
are made to involve in ongoing social activities.
Ø Secondly, they focus on the areas that
surround the companies and work for their upliftment. Thirdly, it generates
business and goodwill for the organization as they make their customers also to
contribute to social issues.
Ø Companies focus on the value generated
through the CSR and create value through four channels namely product
innovation, skill enhancement, value chain enhancement, and market value.
Thus, the companies use these above-said channels to create products
that are essential for social life. NGO for CSR in Noida also provides the local communities
with sanitation, healthcare, clean drinking water, education, and financial
literacy.
