What is CSR?
The Parliament approved new Companies Bill, which mandates that companies of a certain size spend 2% of their three – year average annual profit towards corporate social responsibility (CSR), is a landmark one as it makes India among the first nations to have social welfare spending as part of company statute by law.
Around 8,000 companies would fall under the Bill’s ambit and this mandate would translate into an estimated CSR spending of Rs. 12,000 – 15,000 crore annually. In order to maximize the impact of their CSR, Indian corporate houses need to look beyond the traditional lens of “charity” and develop succinct CSR strategies with potential for large – scale social and economic impact. Private philanthropies set up by India’s business leaders can be looked at as models for CSR. The first step towards developing a CSR strategy is to define a maximum of 2 – 3 social issues.
Making the most of corporate social responsibility: Smart partnering can provide a practical way forward.
CSR is a creative opportunity to fundamentally strengthen business while contributing to society at the same time. The big challenge for companies and NGOs is how to develop an approach that can truly deliver for both.
Smart partnering is emerging as a way to create value for both the business and society simultaneously. Smart partnering focuses on key areas of impact between business and society and develops creative solutions that draw on the complementary capabilities of both to address major challenges that affect each partner.
Read the handbook launched by PricewaterhouseCoopers for an understanding of CSR
The handbook builds a common understanding of the concept of CSR, based on global practices, Indian tradition, and the intent and provisions of the Companies Act, 2013. It highlights important aspects of Clause 135 of the Companies Act, 2013 and its implications on companies. A major part of the handbook focuses on the ‘what’ and ‘how’ of strategizing, planning, executing and monitoring these CSR activities.
You can download a copy of the handbook from their website:
CSR with SWS:
SWS facilitate targeted actions for overall development of marginalized groups and facilitates corporates to invest in such causes. Efforts are made by the organization to conceive strategies so that partners can become effective partakers in the process of social change.
SWS management plays an important role in guiding the organization towards attaining its’ vision. The financial and the Project Planning Matrix and timeline for each project is reviewed and approved by the management. They help the organization in planning, organizing, leading and controlling the efforts of organization and of using all organizational resource to achieve organizational goals. They contribute to the development of programme strategies and support advocacy and leveraging with regional and national level leaders. They also contribute to the preparedness plan relevant to the project, monitoring the implementation of activities and their periodic review.
Regular reports and updates pertaining to interventions are shared. Meetings and dialogues with the target group are held which ensure the quality of the intervention undertaken. All the activities and the overall planning of the interventions are undertaken incorporating the target groups suggestions and views. The interventions proposed are need based and customized for the project states and target group. The tools for evaluation of the programme are participatory and ensure the sustainability, effectiveness and replicability of the programme. Such a process ensures milestones planned are being achieved and provide regular updates and information to all stakeholders on progress of the project. A Project Steering Committee is formed under each project comprising of senior management and domain experts of SWS, who screen and approve the financial Project Planning Matrix (PPM) designed on the basis of PLA, and the timeline. The project is reviewed by the Project Steering Committee on quarterly basis and is monitored against the matrix. The project is also monitored at the field level by the team to ensure the implementation of the project as per the output. After the approval, disbursement of funds is made to the Project team ensuring proper utilization and accountability against financial PPM. The finance department of SWS monitors the overall allocation and disbursement of program funds, ensuring that funds are properly coordinated, monitored and liquidated. It takes appropriate actions to optimize use of programme funds, monitors and submits financial status reports to management in compliance with the regulations and guidelines.
Our organization has empanelled its projects for the CSR support in ‘Samman’ platform (This platform is initiated by CII, BSE and IICA)
Link to the projects: http://goo.gl/LiyIO6