corporate social responsibility
                     Corporate 
Social 
Responsibility 
Overview of corporate social responsibility
       Today, consumers are increasingly demanding accountability from 
progressive businesses. In light of this, companies must place a greater 
emphasis on corporate social responsibility now than ever before. A good 
business is no longer defined solely by its financial success. With the internet 
allowing for greater transparency than ever before, a good business must also 
act in good, responsible ways for society. Companies often use their corporate 
social responsibility program to give back to the community.
Facts and Figures
       Following an amendment to the Companies Act, 2013, in April 
2014, India became the first country to make corporate social 
responsibility (CSR) mandatory. As part of any CSR compliance, 
businesses can invest their profits in education, poverty, gender 
equality, and hunger.
     
       According to a 2015 survey by Nielsen, more than 50% of 
consumers are willing to pay more for a product or service if the 
business prioritizes sustainability.
Four Types of Corporate Responsibility Your 
Company Can Engage In
 Environmental initiatives:
  Volunteering:
 Philanthropy
 Ethical labour practises
Conclusion
      Even the most minor initiative by the company can impact a 
community. Donating money or resources to charities can make a 
significant difference, but small businesses and startups may not be 
able to do so. Companies can begin by organising small fundraising 
events, encouraging volunteering, developing a social mission and 
clear goals, implementing employee education programmes, or 
collaborating with businesses with similar mindsets.
        Involve the employees in the decision-making process when 
identifying and launching a CSR initiative. Create an internal team to 
lead the efforts and identify organisations or causes relevant to the 
company or that employees care deeply about. When companies 
contribute something important to their employees, it will increase 
engagement and success. Involving employees in decision-making can 
also provide the team with better clarity and assurance.
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