What is Corporate Social Responsibility? Why is it important?

The joy of success can only be truly enjoyed when we give back to the society that has brought us success. Huge business houses can become big brands, but cannot be an ideal brand until they actively take part in CSR (Corporate Social Responsibility) Activities. Today’s world is changing at a rapid rate, and every corner is getting increasingly globalised. Amidst these changes, the biggest problem that human beings face is the cross-border issues that are taking drastic turns. Though the government has reached out to address these issues but covering alone is not in their capacity, and that’s where the business houses play this pivotal role of giving back to the society that gives them recognition.

What is Corporate Social Responsibility?

Corporate Social Responsibility is solely a business approach where business organisations are involved in environmental and social concerns through their operations. It also involves interacting with the various stakeholders with the aim of a positive contribution to society as well as the environment. The actual initiative of CSR activities is to look beyond profit maximisation. It's a rather ethical way for business organisations to give back to society and become accountable for their impact, and to conduct their operations in a manner that benefits both stakeholders and society.

Importance of Corporate Social Responsibility

The CSR activities within SMEs are a positive approach to their business operations and also improve their economic viability. The importance of corporate social responsibility is endless.

• Customers have a positive perception of the brand when it is actively involved in CSR activities. In the world of environmental sustainability, having a socially conscious image is very important for organisations. It is always noted that these days from customers to stakeholders as well and employees always prioritise a brand and give preference if it is involved in CSR activities along with its profit and success.
• Not only the customers prefer brands that look after society even the employees also prefer being a part of these responsible brands. Such companies also attract new employees. Top candidates, while choosing their dream jobs, mainly prefer companies that follow a sustainability strategy.
• Every company achieves more success and expands with the help of effective investors. When a company follows and demonstrates effective CSR programs and is involved in such activities, the brand becomes more attractive and appealing towards its existing and future investors.

Types of Corporate Social Responsibility

• Now that we are aware of the broad importance of corporate social responsibility, there are different types of CSR categories that companies are involved in for the benefit of their customers, stakeholders, and employees.
• Keeping the environment safe is the pivotal aspect of CSR, and using eco-friendly materials is one of the topmost approaches in this category. These days, there are many companies that have huge carbon footprints irrespective of their size and operations. Whatever the minimum step the company takes with the approach to reduce the carbon footprint will be considered a great initiative towards the environment, as well as the company.
• Providing assistance to services and donating money for social causes is another way of executing the philanthropic perspective of a business organisation. It is seen that many large companies that have enough resources support charities and community programs that look after the betterment of society.
• The most important and effective way of contributing to CSR activities is supporting workforce ethics and equal labour policies. Furthermore, not involving child labour is also very important. This directly connects with the retention of employees.
• The sincerity of a company is reflected when it sincerely promotes employee volunteerism at community events. This way, the company might not get anything in return, but will surely gain the trust of the people and will also express concern towards social causes. Volunteerism upgrades the corporate social responsibility definition to a completely positive angle.

How does Sylvi carry on Corporate Social Responsibility?

Sylvi is one of the leading watch manufacturing companies in India that not only produces excellent quality watches but also takes part in CSR activities and takes care of the environment and society. The team of Sylvi believes in fostering diversity and therefore has people from all parts of society, irrespective of their social background. Therefore, we try to involve our team members in every aspect and make them recognisable in our organisation. Sylvi has always supported recruitment from all aspects and individuals from all backgrounds, empowering strong women and even talented people with disabilities. All of them are a part of the Sylvi team to build a strong and successful career.

All the wrist watches and accessories that are manufactured by Sylvi are environmentally friendly and do not harm animals. There is a zero carbon footprint from the products that are produced by Sylvi.

Initiatives of Sylvi as a part of corporate social responsibility

Sylvi is considered to be one of the most watch manufacturing companies in India that contributes to society.

The most important initiative of Sylvi as a part of corporate social responsibility is that the company actively takes part and supports DEAF & DUMB and stands firmly towards Women’s Empowerment. The company contributes to the societies that look after these activities. It does not end here. The team of Sylvi comprises special people with disabilities who have shown extreme talents towards watchmaking and being a part of our company. Even the company has women employees from all sectors of our society, which truly makes the organisation stand apart from its competitors.

Sylvi leather watches are extremely popular among watch lovers in India. To produce these leather straps, none of the animals are hurt. Sylvi does not use animal leather to make straps for its watches; rather, they manufactures machine-invented leather that is quite long-lasting and of good quality. Moreover, we do not use plastic bands; rather, we have silicone and nylon bands, stainless steel bands for our watches.

Example of Corporate Social Responsibility

The watch companies these days are actively involved in several CSR activities that have a positive impact towards society.

• Sylvi supports the Deaf and Dumb and enables support towards women's empowerment. There are several events conducted by the company to enable such practices.
• Notable watch companies contribute and focus a lot towards the education of the underprivileged society. They are also involved in community development initiatives like girl child education.
• There are also famous companies that support communities with chronic diseases and look after their regular needs.
• Several companies also conduct activities to preserve the environment, like protecting wildlife, domestic animals, underwater and ocean conservation, and preserving rare islands.

Comparison

While conducting CSR activities, the business houses will also face lots of comparisons and negativity. The best way is to ignore them and look forward towards the positive deed. While conducting CSR, there will be a lot of false claims that need to be addressed positively. Moreover, the management should always emphasise the positive aspects and completely ignore the negative contexts while conducting corporate social responsibility.

Environment Issues

In today's fast-paced world, if anything, that is on most dangerous position is our environment. Global warming is continuing to wreak havoc on our environment day to day. Increasing carbon footprints, abrupt climate changes, extreme weather conditions, the verge of extinction of rare species, not using eco-friendly materials, etc, are several environmental issues that can create huge danger if not taken care of already.

Ways to achieve Sustainable Development

Sustainable development can be achieved through its three pillars: environmental protection, social inclusion, and economic growth. In order to achieve this, multifaceted approaches are involved. These approaches are investing in education and infrastructure that are good for society, sustainable agriculture, responsible consumption of energy and natural resources, and strengthening renewable energy. Apart from this, sustainable development can also be achieved by protecting biodiversity, wildlife, and enabling collaborations that would help in building a sustainable future for the environment and society.

Conclusion

Corporate social responsibility is a vital aspect of every responsible business organisation, irrespective of whether it is large or small. It's from society that these companies become renowned brands, and hence it is their responsibility to give back to society and the environment in the most ethical manner. Watch companies in India, like Sylvi, are also not behind and quite spontaneous in making their contributions towards corporate social responsibility. Sylvi has not only concentrated on promoting excellent timepieces for both men and women, but has also ensured giving back to society and the environment in a responsible manner.