Corporate Social Responsibility Initiatives By Indian Companies and Sports
A company can never be successful if the society around it fails. The wellbeing around the society is as important as is the business. And one has to take care and bring up the society as your own child. The concept of Corporate Social Responsibility is not a new arena for the Indian Companies. In the pre-industrialization period, which lasted till 1850, wealthy merchants shared a part of their wealth with the society by way of setting up temples for a religious cause. India is the first country in the world to mandate corporate social responsibility. CSR guidelines directed the companies to spend 2% of their net profit on social development. The company can implement these CSR activities on its own, through its non-profit foundation or through independently registered non-profit organizations that have a record of at least three years in similar activities. However, it is noted that there is no relaxation in the taxation policy of the country upon the Indian Companies, in the promotion of their CSR Initiatives. Money spent on CSR is neither for business processes, nor can it be counted as charity. This can be a major hindrance for the Indian Companies in the promotion of their CSR Initiatives. Sports would inculcate the sportsmanship qualities among the people of the society. It would definitely help the people to expose out their talent in the field of sports and would learn the skills to live a better and healthy life. It would bring fame to the state as well as country and help them to improve their body image and also bring confidence to live the life in a better way by handling the challenges of the life intellectually and peacefully. In nutshell, sports should be promoted and more sports events should be organized for youth and children especially for the underprivileged/slum/targeted/indulged criminal section of the society so as to channelize their energy and potential in building of the nation.
Keywords - Corporate Social Responsibility (CSR), Sports, Company, Society