By Dr. Rana Singh and Rusen Kumar
The organizations are required to evolve the CSR Model in the exponentially dynamic corporate world to ensure maximum productivity by optimal utilization of resources.
The Importance of Evolving a Dynamic Business Model
The success of the organization in the times to come shall depend to a great extent on the dynamically evolving business model including the CSR model of the organization. The organizations across the world and India in particular shall reorient the strategic planning process so as to be able to incorporate the changes that are to be made as an outcome of the exponential rate of change in the various dimensions of the business, legal, regulatory and economic environment including CSR.
Recommendations for Evolving a CSR Model
Evolving a CSR model is highly recommended for organizations having multi-country operations as well as companies operating in a single country like India irrespective of the size or scale or domain area of the organization. Evolving a CSR model is normative and not prescriptive for the organizations.
Igniting the Spirit of Evolution
We must understand the perspective with which we are discussing and recommending the organizations to evolve their CSR model. The focus of this article is to ignite the spirit of evolving, developing, and restructuring the CSR model of the organization which can provide a catalytic boost to the organizational growth and development apart from facilitating the organization in gaining and sustaining global competitiveness.
Systematic Evolution Process
The evolution of the CSR model should be a systematic process wherein the top management of the organization shall judiciously analyze the internal and external factors and variables apart from evaluating some of the business best practices in the area of CSR. The organizations may opt for one of the many routes in the process of development of their own CSR model.
Consideration of Risk in CSR Model Development
The success of a CSR model depends on thorough analysis of factors, variables, and dimensions in the internal environment and the external environment, focused and meticulous implementation of the model with the required check and balances in the form of control mechanism. The development of the CSR model requires adequate research on various factors and dimensions so as to reach a conclusive form. The empirical research of the various factors and dimensions would be highly recommended to understand the pros and cons of adopting a particular CSR model.
Integrating CSR with Organizational Vision
The conceptualization of a CSR model has to be done with utmost care and focus as the careful analysis of various factors and dimensions in the process of developing the CSR model goes a long way in defining the success of the CSR model as well as ensuring success and competitiveness of the organization. The success story of the organization becomes concomitant to the success of its CSR model. It has to be understood from a holistic perspective. The successful planning, implementation, and control of the CSR model along with the business model have a profound bearing on the image of the organization among the masses.
Participatory Approach in CSR Model Development
The process of evolving the CSR model should be more participatory in approach rather than making it a simple process either managed at the top or the middle level. The participative and evolutionary process of development of the CSR model has proved to be relatively more and more engaging, enriching, and rewarding with the various internal and external stakeholders of the organization. The process of development of the CSR model must be akin to the development of vision, mission, and objectives of the organization.
Continuous Risk Analysis
The simplest approach would be to analyze the various possible scenarios in the process of implementation of the CSR model. The risk analysis of the CSR model gives us the required confidence in the process of evolution and development of the CSR model so as to make it revolutionary in approach. The risk analysis must be done continuously in the process of evolving the CSR model, implementing the CSR model as well as changing the CSR model.
Leveraging Technology for CSR Model Enhancement
The organizations in the modern digital era must have technology-enabled systems, process and procedures to analyze the overall analysis of the productivity, efficiency, and effectiveness of the CSR model and the allied initiatives. The technology-enabled systems facilitate an ongoing and dynamic tracking of the planning, implementation, and control mechanism of the CSR model so as to ensure that the required preventive and corrective mechanisms must be in place in case of any requirements in the lights of the ongoing changes in the external and internal environment.
Advantages of Successful CSR Model Evolution
The successful evolution of the CSR model has manifold advantages. It helps the organization in following the right path in the CSR domain area by optimally integrating its requirements and resources to accomplish the vision and mission of the CSR domain with an ultimate intent to accomplish the vision, mission, and objectives of the organization.
Ensuring Organizational Success through CSR
The success of an organization is a function of successful evolution of a dynamic and innovative CSR model, a team of dynamic CSR professionals to execute the model and its planned initiatives, optimal allocation of financial resources, meticulous implementation of the innovative plans, and a robust control mechanism to ensure that the plans are accomplished meticulously with necessary checks and balances at various levels of the organizational hierarchy. The successful process of evolving and implementing the CSR model leads to enhanced brand image which optimally supplements and complements the overall brand communication strategies of the organization.
This leads to a highly enhanced brand image among the customers and all stakeholders thereby leading to a cascading impact on the overall sales of various products and services ultimately contributing to the overall competitiveness of the organization in the domestic economy as well as the global markets.
About the Authors:
Dr. Rana Singh is the Co-Founder and CEO and Rusen Kumar Founder and Editor, India CSR.
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