Corporate Social Responsibility and the Pandemic
Corporate Social Responsibility
The time is now, to show the society that the companies actually “CARE” which they portray in their advertisements for Promoting their products and services by actually implementing Corporate social responsibility in this hard situation.
Corporate social responsibility (CSR) is a business model that encourages the companies to prove themselves that the existence of the company benefits society at par.
Corporate social responsibility also promotes the mission of the company to self-regulate the business structure that helps in making a company socially accountable to itself and the public. By implementing corporate social responsibility, companies can be aware of the kind of impact they are having on all perspectives of society, i.e. Social, Economic, and environmental.
Corporate social responsibility is not only confined to helping the society by donating or by opening hospitals or schools but it also includes the safety of mankind and the Environment. A company should also focus on minimizing pollution and contribute to the making of an eco-friendly environment.
THE PANDEMIC: The contribution of Corporate social responsibility.
We are well aware that pandemic is rampaging throughout the nations and the entire economy is on the verge of failure. There will not be a more relevant time to explore the role of CSR in this Pandemic. Companies have started laying off the employees and started cutting down the wages which are worsening the situation, especially industries like travel, real state, petrochemical, mining they are hard hit.
For supporting the needful people and deploying urgent emergency resources wherever required, the business leaders, the corporation, the NGOs, must take the lead and promote corporate social responsibility.
Here is the list of companies who have proven themself that corporate social responsibility is an integral part of its mission.
1) Walmart and the Walmart Foundation announced a $25 million commitment to aid organizations on the frontlines responding to Pandemic. The money will be distributed in a series of grants, each furthering the capacity of organizations to help communities hit by the pandemic.
2) Henkel has announced a comprehensive global solidarity program to support employees, customers, and communities facing the global pandemic. A donation of 200 million euros provided to WHO and other organizations that are standing in the frontline to fight with this pandemic.
3) Apple is working globally to help treat those who are sick and to help lessen the economic and community impacts of the pandemic by committing donations to the global Pandemic response has reached around $15 million worldwide.
4) Microsoft in collaboration with UNICEF has launched a global learning platform to help address the Pandemic Education crises as schools and colleges are shut down from months. According to the latest available data from UNESCO, 1.57 billion students have been affected by school closures in more than 190 countries worldwide.
5) Google is committing to donate more than $800 million to support businesses, organizations, and healthcare workers as part of its coronavirus response, most of it in the form of free advertising. They will give the World Health Organization and global government agencies a total of $250 million in ad grants to share information on how to battle the spread of the virus.
6) TATA TRUST and TATA Group of companies have committed 500 crores Indian rupees to fight with this pandemic.
7) Infosys Foundation has committed Rs 100 crore to support efforts towards fighting Pandemic in India.
8) Reliance Industries Limited pledged India’s first 100-bed for Pandemic hospital, 50 lakh free meals for the needy, lakh masks, and thousands of PPE daily for health-workers, free fuel for emergency response vehicles among other initiatives.
9) Many companies like ARAMCO, SABIC, Group of Banks, and many more all around the world has come forward to support these hard days and to show their actions towards corporate social responsibility.
These are some instances where corporate social responsibility has been traced during these hard times of pandemic and many more organizations are working worldwide to curb the flat. companies are showing that there is still hope and their organizations are supporting the people as per their capacity. These leaders are responding to the call of their corporate social responsibility and helping the needful humans.
Studies suggest that people only truly accept that their company has a purpose and clear values when they see administrators making a decision that cuts short-term profitability to adhere to their values.
Many business tycoons, giant corporations, or big companies have great influence over a big section of society. They must use this influence to encourage their supporters to help the needful. Many business leaders have a huge follower base on social media and the can inspire them to help in the cause.
As the world is screaming out for help from fellow humans, through Corporate social responsibility programs, philanthropy, and missionary efforts, companies can serve society while promoting their brands.
Now is the time when companies must put people before profits. As important as CSR is for the community, it is equally valuable for a company. CSR activities can help forge a stronger bond between employees and corporations, boost morale, and help both employees and employers feel more connected with the world around them.
This is the time to be selfless and help mankind. Some Small and mid-sized businesses also create social responsibility programs, although their initiatives are not often as well-publicized as larger corporations. But even small help in this scenario is a big help.
Many small and mid-sized business owners are doing what best they can do to relieve the suffering of humans in the current scenario. Moreover, many business leaders are actively urging governments to be more welfare-centric and fair in times when trust is at an all-time low. Many companies are coming forth to the rescue of the governments by producing goods with urgency.
The corporates must maintain the corporate social responsibility presence during Pandemic and after the pandemic too. This is an opportunity for new relationships, better community engagement, and an educational opportunity for employees on the importance of giving back during this time.
In such an unprecedented time, it is expected that many corporations have had to change the priorities, re-evaluate current programs and projects, and of course, review their disaster relief processes.
The Corporate Social Responsibility and business continuity teams the opportunity to re-evaluate and re-structure their plans to ensure society and employee engagement remain at the top of the list during these conversations. A little help goes a long way, and when employees and corporations continue to show their support, the efforts will not go unnoticed.
Companies that are in a position to support must activate their corporate social responsibility programs to help food pantries, free clinics, and other non-profits in addressing the immediate needs of the neighborhoods where they have operations. It is not required for these companies to take extraordinary steps to help the society, but the bold and productive steps they take today, to deliver immediate support, will define their legacy tomorrow.
To conclude, we are in the midst of a transition, and much depends on how we either swim together or sink together. So, Social corporate responsibility focuses on the sustainable development of mankind, and to avoid foreseen mishappenings. And due to this scenario, a big paradigm shift will surely be happening in the socio-economic world.
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