An OverView
Initiative-management-software - Basics
The efficient execution of CSR strategies In 2013, section 135 of the Indian companies act was added to the legislature, this revolutionary act gave companies an outline by which they could carry out their CSR programs. Though a lot of companies like to go above and beyond the basic requirements stated by this piece of legislature, effective execution is a key element to successfully implementing CSR programs and strategies. Ever since the act was passed, whether you're a company with a net value of 500 crore, a turnover of 100 crore, or a net profit of 5 crore, you need spend at least 2% of your net profit on CSR activities. This means there are over 16,000 companies that are obligated by law to take part in adding to the community. What's important for all these companies while coming up with effective CSR strategies is to maintain a clear vision of the needs of society while simultaneously developing internal systems that can effectively turn those visions into reality.
Understanding the community
Knowing your surrounding are key to understanding what they need and where they're lacking. Gaining a deeper understanding of the shortcomings of the society is critical when deciding what actions need to be taken to turn things around. This is why organizations taking part in CSR activities need to specifically envision outcomes based on the needs that they see around them and plan their executions with these envisioned outcomes in mind. When actions are based on required outcomes, there's a lot less room for error and miscalculations when compared to actions that are based on theoretical facts and figures.
Choosing the right partners
Building partnerships with social organizations is a great way for corporate to get a ground level understanding of the society that they live in and the needs of the people. While corporate organizations may have the money and the power to make a difference, where they are lacking is in the basic understanding of the problems that the lower rungs of society deal with on a day to day basis. That's where social organizations come in and though they might not have the backing that comes with a 500 crore company, they have first-hand experience in dealing with the problems of society, which is equally important.
Tracking your progress
Once corporate organizations have integrated themselves into the community ecosystem by partnering with social organizations locally, efficient monitoring is critical to understand the progress that's being made as well as how far they are from reaching their ultimate goals. Milestones need to be marked out as clear indicators of their short term and long term goals so that they can efficiently map out their progress. While short term goals may be easier to achieve and give a company a sense of achievement, long term goals are as important as it's the long term achievements that create an impact on society that last long after the company itself may have exited the strategy. These long term impacts are true signs of a successful CSR campaign.
