As an entrepreneur, we need to realise and understand the importance of not only earning profit, but also contributing to society in whichever way we can.
When we run our ventures, we tend to take a lot from society. The air we breathe, the infrastructure we use, the society we have grown in, the experiences we have taken from our surroundings and so on. Since we are earning money and also using such services, it is our responsibility to give back to society. Just like in a house, a lot of tangible and intangible inputs go into raising a child. When the child starts earning, it becomes his/her responsibility to take care of not just himself/herself, but also to upkeep the house and take care of everyone inside.
Also if businesses start looking at this as a marketing tool as well, CSR should definitely be part of a company's growth plan. At Beveragewala, we had tied up with an NGO serving unpriviledged children, and we used to contribute 1% of our monthly revenue towards this cause.
If you look at what has happened in a lot of developing countries like India, we have been growing fast without really caring about society. Because of this, now we are facing a host of issues like extremely high pollution levels, big traffic jams, corruption etc. which are hampering business in a drastic way. Hence, for business to be sustainable, we need to assess societal factors as well and ensure business growth is complemented by social growth as well.
When we run our ventures, we tend to take a lot from society. The air we breathe, the infrastructure we use, the society we have grown in, the experiences we have taken from our surroundings and so on. Since we are earning money and also using such services, it is our responsibility to give back to society. Just like in a house, a lot of tangible and intangible inputs go into raising a child. When the child starts earning, it becomes his/her responsibility to take care of not just himself/herself, but also to upkeep the house and take care of everyone inside.
Also if businesses start looking at this as a marketing tool as well, CSR should definitely be part of a company's growth plan. At Beveragewala, we had tied up with an NGO serving unpriviledged children, and we used to contribute 1% of our monthly revenue towards this cause.
If you look at what has happened in a lot of developing countries like India, we have been growing fast without really caring about society. Because of this, now we are facing a host of issues like extremely high pollution levels, big traffic jams, corruption etc. which are hampering business in a drastic way. Hence, for business to be sustainable, we need to assess societal factors as well and ensure business growth is complemented by social growth as well.
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