A change in plans, and not in intent, is the need of the hour for companies sceptical of CSR
Life for the laymen, after the collapse of Lehman Brothers, has been rife with troubles. From being handed the pink slips by their bosses to seeing prices of their homes plummet, no one from New York to New Delhi has been left untouched by the financial meltdown. Almost like a domino effect, charities and nonprofit organisations have begun to receive fewer donations and sponsorships; companies that until a few months ago boasted about their CSR activities, have mostly chosen to do away with the same.
Arya Samaj Gandhidham is one charitable organisation reeling under the pressure of the present credit crunch. “Our project Jeevan Prabhat is for rearing earthquake orphans, whom we are rearing like our own children without distinction of caste, creed or religion,” says Vachonidhi Arya, Hon.Gen.Secretary of the organisation. “We are totally dependent on donations for the rearing of these children and are already facing hardships since October 2008 and the situation is worsening day by day. At present our expenses per month are Rs. 3.5 lakhs and our income has come down to Rs. 2.5 lakhs per month. We just don’t know how we will be able to meet the shortfall.”
HelpAge India though is positioned at the other end of the spectrum. “HelpAge India is not affected by recession. In fact, we are looking at this year as our best year in fund raising,” said a jubilant Kapil Kaul, Country Head (Advocacy, Resource & Communications), HelpAge India.
Community Friendly Movement (CFM) is a social enterprise trying to better the lives of artisans by giving them a fair share of the profits earned by selling products made by them. Rahul Barkataky, Co-founder and CEO of CFM, is confident about tiding through this rough patch. “As of date, we have not felt the heat of recession. But yes, in the coming financial year 2009-10 we are looking at flat sales for our export initiative. To compensate for this we have focussed on Indian retail sales. There has been no impact as such on sales since our major product categories are alternatives to expensive accessories for both personal and home use. And yes, we have sufficient cash in hand unlike a lot of major corporations. And during recession, cash is king!” says Rahul.
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Source : IIPM Editorial, 2009
Life for the laymen, after the collapse of Lehman Brothers, has been rife with troubles. From being handed the pink slips by their bosses to seeing prices of their homes plummet, no one from New York to New Delhi has been left untouched by the financial meltdown. Almost like a domino effect, charities and nonprofit organisations have begun to receive fewer donations and sponsorships; companies that until a few months ago boasted about their CSR activities, have mostly chosen to do away with the same.
Arya Samaj Gandhidham is one charitable organisation reeling under the pressure of the present credit crunch. “Our project Jeevan Prabhat is for rearing earthquake orphans, whom we are rearing like our own children without distinction of caste, creed or religion,” says Vachonidhi Arya, Hon.Gen.Secretary of the organisation. “We are totally dependent on donations for the rearing of these children and are already facing hardships since October 2008 and the situation is worsening day by day. At present our expenses per month are Rs. 3.5 lakhs and our income has come down to Rs. 2.5 lakhs per month. We just don’t know how we will be able to meet the shortfall.”
HelpAge India though is positioned at the other end of the spectrum. “HelpAge India is not affected by recession. In fact, we are looking at this year as our best year in fund raising,” said a jubilant Kapil Kaul, Country Head (Advocacy, Resource & Communications), HelpAge India.
Community Friendly Movement (CFM) is a social enterprise trying to better the lives of artisans by giving them a fair share of the profits earned by selling products made by them. Rahul Barkataky, Co-founder and CEO of CFM, is confident about tiding through this rough patch. “As of date, we have not felt the heat of recession. But yes, in the coming financial year 2009-10 we are looking at flat sales for our export initiative. To compensate for this we have focussed on Indian retail sales. There has been no impact as such on sales since our major product categories are alternatives to expensive accessories for both personal and home use. And yes, we have sufficient cash in hand unlike a lot of major corporations. And during recession, cash is king!” says Rahul.
For Complete IIPM Article, Click on IIPM Article
Source : IIPM Editorial, 2009
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