In the corporate world the competition became more fierce and widespread and this is the reason as leaders were given less time to deliver results, they had to focus more on corporate strategies and sacrifice their involvement with the workforce but the definition of the corporate world is slowly changing, such as employees are better educated and more aware of their rights, options, and desires, and expect the same to their leaders to be visible, motivated, actively participating, respectful, and most importantly open to suggestions from employees at all levels. Since the last 20 years or so, the concept of corporate social responsibility is gaining more attention around the whole world among business people, media, investors, shareholders, and academics from a wide range of disciplines.
“Sustainable development implies meeting the needs of the present without compromising the ability of future generations to meet their own needs.”
– The Brundtland Commission to the UN, 1987
The corporate world focuses on four aspects of sustainability.
There are four approaches:
- Societal influence: as a measure of the impact that society makes upon the corporation in terms of the social contract and stakeholder influence.
- Environmental Impact: Is the effect of the actions of the corporation upon its geophysical environment.
- Organization culture: It is the relationship between corporation, stakeholders and particularly employees.
- Finance performance: An adequate return for the level of risk undertaken.
Sustainability is a response to the challenges of the modern world which transforms threats and problems into development opportunities for companies from the public and private sectors. The social responsibility and ethical aspects are of great importance in the modern world due to the increasing influence of organizations.
The world faces many environmental crises, and social responsibility helps to improve the environment. How?
Here we go, the world moved towards globalization, and more focus on social responsibility and sustainability or social responsibility and financial performance. Both social responsibility and sustainability or social responsibility and financial performance are the two faces of the same coin. The corporate world focuses more on social responsibilities, such as conducting societal programs that are helpful for the needy. The company’s management encourages employees to participate collectively in social responsibility programs and they try to understand the nature of the relationship between the dimensions of corporate social responsibility concept (cultural, social, economic, ethical, and legal). The concept of corporate social responsibility (CSR) towards society in which it is located, the safety and health, and contribution to a range of social activities from combating poverty and pollution control and any natural crisis. Definitely, the size of the company matters such as small, medium and large, according to this they establish their strategy of social responsibility through that Companies work to balance their participation in CSR programs.
Fiinovation working on the Concentric model as well as Ethical model, it contains four kinds of social responsibilities that constitute total CSR: economic (products, job, financial stability and growth), ethical (responsibilities to exercise the economic functions with a sensitive awareness of ethical norms), philanthropic (amorphous responsibilities that businesses should get involved with to improve the social environment) and legal (obey the law). fiinovation believes this model provides a wider scope of economic responsibilities, which include: generating wealth to improve the nation’s standard of living, supplying the needs and wants of people for goods and services, selling goods and services at fair prices, providing employment and fair wages and eliminating poverty in a holistic manner and also they contribute to shaping the public agenda instead of simply reacting to policy choices advocated by others. fiinovation is a most promising corporation because they contribute to the society or the nation, rather than being confined to pure money-making ventures.
Innovative Financial Advisors Pvt Ltd, is a leading research and advisory firm that offers expertise in corporate social responsibility (CSR) and sustainability domain. Fiinovation family bridges the gap between the NGO and the companies and gives proper guidance to invest in the CSR activities which will benefit the society. They primarily focus on practise areas like health, education, livelihood skills and environment. Fiinovation CSR activities are appreciated by many corporates and the Fiinovation news about their latest projects is also covered by well-known media channels like ANI News and economic times. In February 2017 Fiinovation and Uflex Ltd jointly awarded for Best Environment-Friendly Projects and the title of the project was Natural resource conservation & optimization of ecosystem services’’. The Fiinovation team always focuses on how their Fiinovation CSR activities make impactful for developing nation India. They mainly focus on social problems. Fiinovation believes action speaks louder than words. They have mentioned their work in Fiinovation Blogs that explains how solving social problems is their first responsibility. Fiinovation CEO Dr. Soumitro Chakraborty and his team are working for new upcoming projects and are also honoured with many awards for their work. Some of the Fiinovation projects related to environmental sustainability are Rainwater harvesting, water management projects, developing various strategies for providing safe drinking water, solid waste management etc. 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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