Maximizing Impact of CSR through Enterprise Development Model

India continues to grow economically at a steady pace year-on-year and the new initiatives of the government such as: Make in India campaign, Digital India, ease of doing business, skill mission, Swachh Bharat Abhiyan, Clean Ganga Mission etc. are improving investment climate and accelerating further growth. Unfortunately, the economic prosperity did not bring much difference in the quality of life of the poor and the social benefits of growth remained confined to small sections of the population. India need large-scale change, one that is based on inclusive economic growth, poverty alleviation, access to basic healthcare, water & sanitation, education based on principles of social justice and sustainable development.

Market and government will not be able to solve all socio- economic challenges. Need of the hour is to focus on solving the social gaps sustainably and not only on profit maximization for reducing vulnerabilities for the vulnerable population. At this cross road, we require broad based, collaborative, creative and market-based approach model based on principles of social justice and sustainable development is part of the solution, as it explicitly aims to provide innovative solutions to unsolved social problems, putting social value creation at the heart of its overall strategy to improve individuals’ and communities’ lives, increase their well-being and continues to deliver value. In other words, maximize improvements in financial, social and environmental well-being of the targeted communities. The concept also exemplifies ‘organic growth’ or ‘bottom up growth’, sustainability, replicability and deals with the overall social development of a collective rather than an individual.

Global corporations have launched innovative ways of delivering benefit using market mechanisms and presents an opportunity for under-privilege communities through transformative CSR projects; aim - to maximise, create large-scale change and sustainable impact.

With CSR becoming an integral part of corporations in India, this is the right opportunity to identify or design initiatives, which are fast to replicate and scale up. Hence, initiatives designed based on enterprise development model works the best. This will demand investing in best practices and capacities, removing barriers to scale, implementing conducive policies and fostering collective action across sectors. The way ahead appears interesting and promising but not without challenges.

FICCI Aditya Birla CSR Centre for Excellence is organising an interesting and interactive summit with the theme “Maximizing Impact of CSR through Enterprise Development Model” on 20-21 Feb 2019 at Indian Habitat Centre , New Delhi.