In this modern era, Consumer is the king. Every company is incomplete without consumer, employees, stakeholders, society, suppliers, distributors etc. The company’s success and survival are in the hands of consumers. If the companies will do well for the society, environment, government, stakeholders, consumers and suppliers, etc. then only it will be able to achieve its goals otherwise it will not survive for long. Nowadays, companies are taking initiatives for the CSR activities and they know their responsibilities and duties and they are also trying to contribute more and more for them. CSR has come a long way in India. India is the first country to legally mandate corporate social responsibility. CSR is divided into three theories such as utilitarian theory, managerial theory and relational theory. The utilitarian theory explains social cost and idea for functionalism and neo-functionalism, the managerial theory explains political approaches, globalization pressure, and domestic political structures, and the relational theory explains the related environment. Fiinovation aims “To ensure that development is not only sustainable and simplistic, but accessible as well”. Fiinovation practices include health, education, livelihood, and environmental skills.
Corporate social responsibility is the positive activity which is performed by any company, business or organization that affects the employees, society, local authorities, environment and economy positively. Fiinovation CSR is related to making sustainable development, improvement of human society, local community and contribution in the eradication of social evils and by not forgetting the rules and regulations and law. There are many companies who are engaging themselves in this activity at higher levels and contributing to society, utilizing and managing in a better way. CSR programs can be related to education, environment, health care, infrastructure, protection and technology awareness etc. There are three main concepts where companies usually focused on are human resource management, environmental management and social distribution. Human resource management consists of providing a safe and friendly working environment to customers, suppliers and employees, to value corporate culture, to ensure maximum satisfaction to customers, and to provide an authoritative explanation. The social contribution consists of providing welfare of the society, contribution to local communities and authorities, good corporate citizenship, and assisting for reconstruction after a disaster Fiinovation projects. Environmental management consists of providing efforts to achieve low carbon society, recycling of wastes and scrap Bio-conservation activity, make use of efficient energy tools etc.
The corporate world realized that today’s scenario of globalization needs CSR and without the presence of CSR, company’s can’t compete effectively and efficiently in the market. CSR strategies are helpful for future decisions related to investments, competing with MNCs, increasing international relationships, enhancing creditworthiness, reputation, recognition and building a brand image, etc. Fiinovation CSR helps to create lots of opportunities for companies or businesses, such as better visibility of the business in all areas, the better impact of the brand image of the business house on the minds of customers, deep understanding of mutual dependency and highest potential of mutual benefits. Sometimes CSR creates the risk such as, we all know India is the first country to legally mandate CSR that makes CSR spending compulsory as a percentage of their annual profit and for these rules and regulations are strict. Some companies still may be using old CSR language, not keeping up with new buzzwords. Business operations can be slowed by the internal bureaucracy created by CSR. Core competencies and less photogenic operations can be ignored.
Innovative Financial Advisors Pvt. Ltd. (Fiinovation) is a global consulting company operating in multiple disciplines of the social development sector with an emphasis on CSR and Sustainability. Fiinovation was established in 2008, by Dr. Soumitro Chakraborty. It basically focuses on social problems such as age, gender, equality, livelihood for women, waste management, rain harvesting, open defecation, disaster management, rural tourism, impact on health, manual scavenging, affirmative action, antenatal care, agriculture development, etc. Fiinovation projects have mentioned all their projects based on social problems. Fiinovation’s main specialities are CSR-CSO Partnership, Initiative Design & Management, Monitoring & Evaluation- Need Assessment, Baseline, Mid-line, Endline Study & Impact Assessments, CSR Policy Design, CSR Livelihood, Skill Development, Education, Health, Environment Projects & Initiatives. Simplicity, transparency, and quality are three morals shown in every Fiinovation project. Fiinovation CEO Dr. Soumitro Chakraborty and team are honoured by many awards in the field of Health, Education, Environment and Livelihood with a focus on CSR & Sustainability. Many corporates, organizations and NGOs have appreciated Fiinovation CSR activity projects and are also covered by well-known media channels too. Corporate social responsibility activities are mentioned in Fiinovation Blogs that explains how solving social problems is their first responsibility.
We can contact Fiinovation through their social media sites like Facebook, Twitter, Linkedin as they keep transparency about their work.
Following are the Links:
Fiinovation Delhi NGO address: 24/30, Ground Floor, Okhla Industrial Estate, Phase III New Delhi – 110020, Delhi, India
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