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We make a life by what we give

Shyam Sundar Beriwala, Chairman, Emeritus, Shyam Steel, shares how giving and sharing is not just the thumb rule for the company, but also the primary cornerstone in its efforts to create a better tomorrow.

Updated: Mar 26, 2018, 12.50 PM IST
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Both the company and the community benefit from CSR initiatives. Do you subscribe to this?

Today, CSR is on the agenda of many CEOs. Business organisations across the world are realising the benefits of adopting socially responsible behaviour. At its heart, CSR reflects how an organisation taking responsibility further impact its decisions and activities on all aspects of the society. For a long time, the financial bottom-line and shareholder return on investment have been the main drivers to measure a company's success. That concept has changed now as CSR has emerged as an alternative priority for organisations to consider. Keeping social responsibility in mind encourages businesses to act ethically and to consider the social and environmental impacts of their business.

CSR not only contributes towards forming a strong positioning for the company increasing its brand value in the eyes of customers but it also enhances relationships with clients. It helps in building and maintaining trust, leading to strengthening of ties, and forming potential alliances. On the other hand, corporate involvement in community's problems makes people, who have been helped by company's activities, to enhance their standard of living. In addition to these initiatives, it may inspire people in their surroundings to do the same. Thus, social activation enables them to experience emotional benefits by being involved in helpin

What are the key focus areas for your CSR projects?

Shyam Steel has always believed that its primary responsibility is to give back to society. Giving and sharing what we have received is not only a thumb rule for us, but also the primary cornerstone in our efforts to create a better tomorrow. We allocate a certain percentage of our profits towards activities that objectively look to elevate society. Our key focus areas to tackle are extreme hunger and poverty, promoting health care, education, and gender equality.

What is your implementation method of CSR?

Unless the poor have an equal say in the growth of the economy, India can never be a 'Super Economy'. This is where organisations and their critical role towards the upliftment of communities comes into play. CSR is one such niche area that needs to get aggressively addressed and implemented effectively in organisations. In this age of globalisation, corporates are no longer confined to national boundaries. The revolution in communication technology and the effectiveness of knowledge-based economics has given birth to new models of business and corporate governance. CSR, today, is essentially a new business strategy to reduce investment risks and maximise profits by taking all the key stake-holders into confidence. Shyam Steel is well aware of the fact that a successful CSR implementation is a long-term process that requires creativity and careful planning and hence it proceeds in such a way that the welfare of the society remains the primary goal.

At Shyam Steel, CSR opportunities exist in all levels within the company and with the guidance of the senior management the organisation is looking at making these opportunities a part of the company's operations. To implement CSR strategies into the company's culture and make people understand the benefits of truly strategic CSR initiatives the backing of the senior management who consistently express their commitment towards the cause is imperative. We also realise the engagement of middle managers in such activities as their knowledge (which is often underestimated), is a major factor for successful implementation. The implementation process will always be reviewed and modified by the top management and the same will be followed by the middle and lower management for success of our projects.

What is your CSR team's strength?

Teamwork is an important component when implementing a new strategy such as CSR within an organisation. Shyam Steel always emphasises to create special CSR working groups within the organisations where the group members are able to discuss CSR and learn from the company's viewpoint on CSR, educate each other and brainstorm for new ideas. Within the organisation, no separate projects or groups exist that focus only on CSR. Shyam Steel believes that CSR is such an integrated part of their organisation that everyone should actively participate in it. Since CSR is an evolving process, we provide continuous CSR training and education to its employees as per their applicability.
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