Companies all over the world work for earning returns on
their investments and to ensure the products they sell earn sufficient revenue
which can ensure their long term sustainability. However, in the process of
earning profits, companies forget about the damage they are causing to the
environment or certain members of a particular community. A company may be
damaging the environment by undertaking unhealthy practices of creating their
product or seriously tarnishing the image of a community through their
marketing efforts.
In order to curb this menace, governments all over the world
came with the concept of corporate
social responsibility which makes it mandatory for every
corporate body or business to protect the environment and uphold social values
for protection of people’s rights. Moreover, a company has to set up a separate
CSR department or hire the services of CSR consulting firms which can help an
organization to manage its CSR funds and identify the areas where company can
direct those funds for greater good of the community.
Indian government was the first in the world to make CSR mandatory for every
corporate body. Every organization in India with a total turnover of ₹ 500
crores or more has to indulge in one or other type of CSR activity. A company
can perform corporate social responsibility activities on their own or can hire
the services of CSR consulting firms which can provide professional guidance
related to following topics:
Identification of areas and conducting research - consulting
firms conduct in-depth research of probable areas which are oppressed and may
require funds for help. This is the most step and service provided by
consulting firms to corporate bodies. Companies may not have the requisite
resources or will to conduct research. Consulting firms guide an organization
through the whole CSR process starting from preparing a plan to undertaking
analysis of the extent to which the program was successful.
Creation of a well defined plan for corporate bodies which
helps them to direct sufficient funds to the needed areas. Business
organizations are intended/mandated to direct at least 2% of their total earned
profits in a year for CSR activities. CSR consulting firms create a well
defined plan which helps the organizations to use their funds efficiently and
at the same time help the local communities and environment.
Carrying out CSR activities on behalf of companies in order
to increase the overall efficiency and effectiveness of the CSR program. This
process involves implementation of the CSR project which can be carried out by
the consulting firms on behalf of the companies. Companies can hire the
services of CSR consulting firms which can provide both research and
implementation services.
Last but not the least, carrying out impact assessment of
CSR projects conducted throughout the year. This helps the companies and
consulting firms to analyze the overall progress and effect of the project on
the local communities. They make sure CSR funds as directed by companies have
been used economically and efficiently.
Therefore, corporate social responsibility
consulting firms provide unparalleled helps and services to corporate bodies.
They prove to be a boon both the companies and community members who receive
help through their efforts.