Poor Health, Lack of Education, Climate change, Income inequality, Hunger, Social injustice, etc.
These are just few of the big problems of our time. Through an effective and practically implementable CSR Business Strategy, your business can thrive and grow while simultaneously playing a major role in solving some of these big problems. You will be able to unlock the potential to contribute towards inclusive social development.
CSR strategy refers to what the company expects to achieve in the next three to five years and incorporates the vision, mission and goals on a broader level. It also entails how it plans to achieve these in terms of organisation and approach.
CSR policy refers to what the company expects to achieve over the next year. This is aligned with the requirements of the Companies Act, 2013
Consultivo CSR team provides assistance in developing CSR strategy and policy, identifying CSR initiatives that align with your corporate values, activities, legal requirements, global standards and best practices.
The heart of the concept of a successful CSR Strategy rests on the ability of a company to create private value for itself, which in turn creates public value for society.
Every Company Needs a CSR Strategy
The fundamental problem with CSR practice is that many companies usually don’t have a CSR strategy, but rather numerous disparate CSR programs and initiatives. Every corporation should have a CSR strategy that unifies the diverse range of a company’s legal obligations, stakeholders’ materiality, philanthropic giving, societal needs, supply chain security, “cause” marketing, and system level initiatives all under one umbrella.
Why should you have this?
The Companies Act, 2013 requires every company to put out its CSR policy in the public domain.
Since most of the development requires long-term commitments and their impact often takes a while to accrue, a good CSR practice requires that a company that is serious about its CSR should develop a long-term (three to five years) vision and strategy which is reviewed annually and the activities and budgets are planned on an annual basis.
- Guidance from the board
- Companies Act requirements
- Corporate business strategy, plan and supply chain requirements
- Development priorities: both, national and wherever the company has business interests
Framework of a CSR Strategy
An effective CSR strategy should articulate:
- Stakeholder mapping and material issues
- Who it wishes to address – the target group
- Where it wishes to work – the geography
- What sectors or issues it wishes to address – the development area(s) that the company wishes to focus on; typically, health, education, livelihood, environment, and so on.
- Alignment with legal requirements as well as benefits available in Income Tax Act
Tools, standards & guidelines
- The 10 principles of the UN global compact
- UN guiding principles on business and human rights
- ILO tri-partite declaration of principles on multinational enterprises and social policy
- Clause 135, Indian Companies Act, 2013
- ISO 26000
- Sustainable Development Goals
Who should own the process?
The CSR committee is the process owner for developing a suitable strategy for the organisation.
Business leaders can change the world. Will you?
Why choose Consultivo?
1. Customised approach
2. Industry-focused methodology
3. Competent and experienced fire risk assessment professionals
4. Cost-effective solution
5. Implemented concept of key account management