CSR: Most Effective & Standard Business Practice Of 'The Modern Retail Era'

CSR: Most Effective & Standard Business Practice Of 'The Modern Retail Era'

- Sandeep Kumar

Firms have started gauging the ramifications of their decisions and activities on society and the environment, some even going the extra mile to give back to their employees, their valued patrons, the community and the world at large. CSR activities by malls and brands today is helping scale customer engagement and brand popularity…

Corporate social responsibility (CSR) is an expansive term used to describe a company or an organisation’s efforts to improve society in some way. It doesn’t matter whether the company is private or government, a shopping mall or a retail store, a bank an NGO or even a multinational company. CSR efforts can range from donating money to nonprofit groups to implementing environment-friendly policies in the workplace.

With the introduction of mandatory spending on Corporate Social Responsibility brought on by the Companies Act 2013, companies in India and across the world have shifted focus from anticipating change and understanding the impact of this change to actually being the change.

Firms have started gauging the ramifications of their decisions and activities on society and the environment, some even going the extra mile to give back to their employees, their valued patrons, the community and the world at large. CSR activities by malls and brands today is helping scale customer engagement and brand popularity.

A handful of international and national companies have developed solid reputations for being do-gooders and turning their success into an opportunity to help others.