Land redevelopment in areas of moderate to high density or land use is an important aspect of urban development. Indian has undertaken many initiatives to develop and structure areas for residential comfort and living. Urban renewal mainly involves relocation or demolition of business, structures and relocation of people whereby the government purchases property for public purpose and city initiated development projects.
It is important to recognize that renewal is a more holistic approach to economical and social development. This new integrated approach is more concerned with neighborhood development wherein they see this renewal process as a learning system. In India the renewal system was pretty new with major cities and metropolis attempting to tackle the problem of decline through ad-hoc initiatives. Foundation in India undertook activities like traffic operation plan, conservation of old buildings and up-gradation of services depending on the city.
With the impact on society at large and societal expectations of them, business is an important aspect of renewal and CSR. CSR in short is the responsibility of enterprises of their impacts on society. To meet these social responsibilities organizations should have a process in place to integrate social, humane and ethical rights and consumer concerns into their business operations. In India, CSR has traditionally been seen as a philanthropic activity but over the years it has moved from constitutional building to community development through various projects. With more global influence, CSR foundations in India are moving from community development and taking a more strategic approach in progress.
By asking companies with a net profit of 5 crore to spend an amount on CSR activities, SME’s will have to be compliant with the diverse set of requirements. Many foundation in India have come forward to help in CSR activities across cities and build a major impact on its benefits and nature.
A robust CSR program in any organization can help get the license to operate through communities since it’s not just the government that gives the right of operation anymore. It also helps in attracting and retaining employees as it gives them a sense of belonging in the company with its CSR initiatives. Foundation in India has a traditional benefit of generating goodwill and creating a positive image in the market through a well planned CSR program. It allows companies to position themselves as responsible members of the society and corporate citizens.
