The world is a complex and interconnected place that we live in. Each and every sector of our lives is connected to the bigger picture in some profound ways. The corporate world is one of these sectors and has an important part to play in the way in which we look at our lives. Corporations and companies are now turning towards society in general in order to understand the various ways in which it can help society as a whole. This is where the element of CSR comes into play, where corporate entities are looking to fulfill some role in the way some important sectors function and affect us.
Corporate Social Responsibility or CSR is a realm of initiatives that are taken up by corporations and companies. These initiatives are directed towards solving problems in society and being responsible for social dilemmas which are affecting us, such as environmental pollution, accessibility to education, and several other elements.
One such problem is the education of the children of employees who work in corporate giants.
However, a doubtful corporation might ask, “Why is it necessary to provide for a scholarship?”
Well, that is a fair question, especially when we are considering the essence of society in the present world. The way in which education is available to us is considerably biased in terms of the overall accessibility. Numerous underprivileged children all over the country have not been able to access primary education, due to which a divide comes into the bigger picture in society as a whole.
Fact of the Matter: The education system in India has the lowest education enrollment ratio of 11 percent. This indicates that only one out of nine children has the access to secondary education.
Apart from the fee structure, the study materials and collateral requirements for education are quite costly, too.While the government provides scholarships and financial aid, these are usually limited to two major dimensions of eligibility. One dimensionfor eligibility is restricted to certain fields of education, while other fields are more or less neglected. The second dimension of eligibility, involves restriction to a certain group of minorities.
In India, it has become essential to have scholarships that are given on the basis of merit and need instead of just caste and creed. The corporate sector has the power to provide this much-needed change. This could be done through the initiation of much more diverse scholarships that could be shaped or tailored according to the corporations’ perspective.
The notion of CSR as a motivation for scholarship issuance is not an unfamiliar matter for an au courant. There are numerous companies that are indulged in providing monetary compensation to needy students. These are some of the companies that are providing Indian scholarships through our platform:
- HDFC Educational Crisis Scholarship
These scholarships have been created by HDFC in order to help children who do not have the adequate social and economical backing to complete their learning. They are designed to help children complete their education by providing them with financial grants that can help them in situations of crisis. This scholarship has proven to be an important tool for students who drop out of school and college due to a lack of financial stability or due to lapse in academic performance.
2. L'Oreal India For Young Women in Science Scholarship 2016
This program has been created by the brand L’Oreal and is designed to be a part of the program for women who are interested in pursuing a career in science. This scholarship was created as a part of their corporate social responsibility, according to which students have the chance to create a profession through any fields related to science and research.
However, the provision of scholarships that numerous corporate entities have started could be viewed from two different perspectives. On one hand, the provision of scholarships may just be a part of the branding strategy of the company or corporation, or could be an integral part of their responsibility towards society as a whole. The branding element comes into picture due to the fact that the provision of scholarships is an immense part of increasing the reputation and the overall value of the brand itself. This can be really good for business, even though the outcome is beneficial to society as a whole.