Corporate social responsibility refers to carrying out certain activities by a company or any business organization which directly or indirectly affects the environment and the general public at large. It involves being aware and socially responsible towards problems public face at the corporate bodies. Top corporate social responsibility companies perform different types of CSR activities which can range from simply planting saplings in the vicinity of the corporate building to inventing a life saving drug and distributing it to the needed sections of the society for free.
Though, corporate social responsibility has been made mandatory by Indian government where a company has to spend certain percentage of their total profits earned during a year for carrying out various CSR activities. Some companies may carry out CSR activities voluntarily by donating their surplus funds for up liftment of weaker section of the society or for any other purpose which benefits the society at large. CSR policies and strategies benefit the society and helps in improving overall image of the company and its products in the market. Moreover, it protects the company from any kind of litigation or court case.
Corporate responsible business activities can range in intensity and the benefits they provide to the community and the company performing the same. Therefore, companies hire the services of CSR consulting firms which guide an organization for successful performance of CSR activities and implementation of CSR plan. They even carry out certain analysis and monitoring programs in order to understand the benefits which public has received from CSR activities of the business organization. It involves creation of a well maintained and organized report which lays out successful implementation of the CSR plan and the benefits which the company and its stakeholders have received through the same. These include following programs:
- Impact assessment :
After the CSR program has been successfully implemented the consulting firms on behalf of the companies, CSR consulting firms carry out impact assessment services which involves identification of changes, whether good or bad, in the lives of the general public or the community for whom the CSR program was intended. The firm carefully analyses each and every aspect of CSR program in order to create a detailed report which in turn helps the company understand overall impact CSR activities has on the company and the stakeholders which are connected to it.
This assessment also involves making changes to the CSR plan and its activities for increasing the effectiveness of the corporate social responsibility program.
- Social return on investment:
This assessment mainly focuses on the social impact the CSR activities had on the community for which they were intended. Moreover, this assessment provides information about return which the company enjoyed by allocating their funds for carrying out CSR activities.
- Public surveys:
The best way to understand the effects and successful implementation of CSR activities is to carry out public surveys. CSR consulting firms interact with the actual public and community members to understand the real effect CSR activities have on them.
Carefully analysis of the progress and impact of CSR activities helps a company improve its future policies. Moreover, CSR consulting programs combined with proper assessment of CSR plans make consulting firms indispensable for any corporate body.