Question

do you think that new companies/ startups will enter the market with stopng CSR because there is such an awareness today?

Answer 1

New companies or startups will work, on to develop local acceptability among the target audience, build an understanding relationship with the authorities while following compliance and develop goodwill in the market place. It can be done, when these new companies spend a small part of their profits upon CSR work. It will also develop a target audience and it will be transformed into a market in coming years. Here, it is to be noted that CSR can also be done without spending money where training programs, awareness schemes and other similar non-monetary based initiatives are taken. So, these new companies or startups will pursue CSR activities in a strategic manner to make the desired impact upon the community as a stakeholder.

Further, it is also a mean to sensitize customers and they can pay a premium price for the goods and services offered by these new companies. It is also well supported by the awareness already present in the society and the market. So, CSR will be done by these new companies.