1. Letters to the editor

Letters to the editor

Letters to the editor

Published: September 26, 2015 1:42 AM

New-age CSR
Apropos of the column “The skills gap and what it means for your business” by Pallavi Jha (FE, September 21), the skills gap truly is an opportunity for corporates to move away from a narrow vision of corporate social responsibility (CSR) to a broader ‘corporate responsibility’, which can lead to a people-friendly business environment across the country. Indeed, companies of all sectors and sizes are realising that they need a specialised function to manage their CSR agenda and partnerships. In fact, they have also started moving away from using human resources or corporate communications to manage CSR initiatives as a supplementary activity. Businesses today have a broad mix of views on how to execute their strategies, depending on their degree of comfort and trust with partners. Many organisations are keen to understand how they can consistently generate high-impact CSR actions. However, at the same time, it is crucial to acknowledge that corporate responsibility initiatives do not conform to a one-size-fits-all approach. Each organisation has to approach this issue in ways that vary depending on the nature of its business model and operating strategy and, most importantly, the nature of its stakeholders. The current ecosystem for sustainable development encourages companies to realign themselves, move away from cheque-book philanthropy and embrace their obligation as a corporate citizen in order to maximise the return on their corporate responsibility investments.
BS Verma

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