Edurays CSR Skill development programs:

The emerging concept of Corporate Social Responsibility (CSR) goes beyond charity and requires the company to act beyond its legal obligations and to integrated social, environmental and ethical concerns into company's business process.

Business has today, emerged as one of the most powerful institutions on the earth. Some of the biggest companies in the world are in fact, bigger in size than some of the developing countries of the world. Globalization makes the world smaller, and business, worldwide, is expanding like never before. Companies are expanding their operations and crossing geographical boundaries.

Indian companies too have made their way into the business boom and are today globally acknowledged as major players. India is currently amongst the fastest growing countries in the world. The globalization and liberalization of the Indian economy has helped in stepping up growth rates. Integration of the Indian with the global economy has also resulted in Indian businesses opening up to international competition and thereby increasing their operations.

In the current scheme of things, business enterprises are no longer expected to play their traditional role of mere profit making enterprises. The ever-increasing role of civil society has started to put pressure on companies to act in an economically, socially and environmentally sustainable way.

The companies are facing increased pressure for transparency and accountability, being placed on them by their employees, customers, shareholders, media and civil society.

Business does not operate in isolation and there is today, an increased realization that not only can companies affect society at large, but they are also in a unique position to influence society and make positive impact.

These and a host of other such ideas have given rise to the concept of Corporate Social Responsibility (CSR). The concept of CSR goes beyond charity or philanthropy and requires the company to act beyond its legal obligations and to integrate social, environmental and ethical concerns into its business process. Business for Social
Responsibility defines CSR as "achieving commercial success in ways that honor ethical values and respect people, communities, and the environment.

It means addressing the legal, ethical, commercial and other expectations that society has for business and making decisions that fairly balance the claims of all key stakeholders. In its simplest terms it is: "what you do, how you do it, and when and what you say." A widely quoted definition by the World Business Council for Sustainable Development states that "Corporate social responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large".

Though, there is no universal definition of CSR but the common understanding amongst most of these definitions concern with how the profits are made and how they are used,

The emerging concept of CSR goes beyond charity and requires the company to act beyond its legal obligations and to integrate social, environmental and ethical concerns into company's business process. What is generally understood by CSR is that the business has a responsibility – towards its stakeholders and society at large – that extends beyond its legal and enforceable obligations.

Need for Skill Development

Although India's demographic dividend is usually lauded as one of its strengths, this has to be understood with caution. Unless skilled, and provided with employment opportunities, the huge demographic dividend that aims to propel India onto the world stage might end up being a liability rather than an asset.

Skill development will help prospective employees, as long as they are not curtailed by the private organizations by which they are trained, get easier access to the formal job market where they can bargain for higher incomes, work under safer labour conditions and be provided better health care and medical facilities. The private sector on the other hand, by deploying its CSR capital on skill development projects, also stands to benefit enormously from the availability of a large skilled and disciplined workforce. Such a workforce can easily translate into better levels of customer service, reduced absenteeism and employee turnover, increased productivity and efficiency, along with reduced recruitment costs.

With such collaborative thinking and action that is required on the part of the government and the private sector which will not only propel growth but ensure that the growth achieved is sustainable, inclusive and equitable.

Under the CSR schemes Edurays works with best of the corporate, in assisting them to utilize their CSR funds in facilitating the youth to acquire skill based training and placement .