Corporate social responsibility(CSR) refers to the responsibility of industries and companies toward society, economy, and environment. CSR implementation is a need in today’s world where industrialization is happening at a fast pace which is destroying our environment and causing pollution. CSR is all about the benefits of the economy, society, and environment.
There must be a give and take situation if a company is consuming something then he must contribute something towards it. A company stays ahead in the competition with the help of CSR implementation and be different from others. It also gives goodwill also to the company.
But there are many cases where a company show a fake CSR implementation just to show that they are doing something for the society by creating a fake NGOs, by contributing less and showing more as a contribution, making the harmful products and they are actually spoiling our society more by their unethical behavior. If we remember the case of Volkswagen where they claim their diesel engines produce fewer pollutants but it actually produces 40 times the legal limit of nitrogen oxide.
Fault is not only on the one side as we can say that we can’t clap with only one hand there are also some NGOs or end person to whom contribution is made by the company for the welfare of the society but they don’t use money for the welfare of society rather than that they use money for some other purposes.
So, as to come out of these faults there is a need for CSR implementation agency. As Under the companies act 2013 it is necessary for a company having the net worth of 500 crores or more and company having the net profit of 500 crores or more to constitute a CSR committee board and contribute the 2% of the amount of the net profit for the last 3 financial years. CSR implementation agency help to comply with this regulation.
The various needs of the CSR implementation agency in today’s world are as follows
1. A bridge between the business with the right kind of activities for CSR
CSR implementation agency helps the companies to perform the right kind of activities according to their nature of the business which helps them to use their funds effectively and they don’t have to spend time to think about CSR and also help them to build their goodwill.
2. To Handle the CSR activities effectively
Corporate social responsibility Implementation agency helps the various big companies to help them in implementing the CSR activities so that it achieves its end purpose and is not stolen in-between by the corrupted people and organizations.
3. Innovation through CSR projects
CSR Implementation agencies do various research in different areas which need growth and sustainability and provide various CSR projects to the company where the company can invest and also implement those projects for them so the company can focus on their own growth without any tension of corporate social responsibility
4. Strategic assistance
CSR implementation agency also provides various strategic assistance to their clients for excellence, innovation, and quality in CSR. Thereby acts as a catalyst for socio-economic development.
5. Grow more trust towards the company
The trust is hard to build and easy to lose. The same is for the trust of the company by the people. If a company chooses a CSR implementation agency already renowned for its work, it adds to the goodwill of the company. People start trusting that the company is actually working towards CSR and do not doubt them.
6. Have good contacts
Corporate social responsibility agency has good contacts with various NGOs, villages and needy areas. So they can actually invest in CSR at the right place which will help in developing the world. Instead of wasting money in places where there is no outcome of growth, invest wisely. It will also help to grow your networking which will also help in the marketing of your company.
Hence, corruption is becoming a never-ending process and there are too many loopholes in CSR of the companies. We need a corporate social responsibility agency that will act as an investigator, implementer and many other roles. It will actually work for the development of our economy. We should remember that there is no planet B. So, the one we have to take care of is the one we have.