9/23/2015
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Fiinovation Forging Partnerships Between Corporations and CSOs SME WORLD Bureau September, 201 5 The corporations including SMEs hav e today realized the necessity of dev eloping the society in which it operates, besides generating profit. This has increased their inv olv ement in lending funds for improv ement of the community at large. Howev er, their good deeds face bottlenecks due to lack of ex pertise in monitoring, implementation and ev aluation of utilization of funds, which are crucial in assessing whether any real change is being brought on ground. Similarly , the CSOs or the organizations working for societal dev elopment on ground are unable to implement the projects, and thus, are forced to discontinue their operations. Channelise the CSR The dev eloping Indian economy is ex periencing a widening gap between human dev elopment index and industrial profits. This is where the idea of Fiinov ation was established as a link between the requirement and the need. Our social dev elopment sector ex perience suggested that in order to create greater impact, there needs to be proper research and consultation towards creating a platform to channelise the CSR inv estments in the right direction. Many corporations are finding it difficult to align their business objectiv es with their CSR goals whereas many civ il society organizations are languishing without funds. It is, thus, important to strategize a plan that addresses the challenges of all the stakeholders. Therefore, when we dev elop a CSR policy for a corporation, we try to align their business objectiv es with social imperativ es. We also adv ise them to implement their CSR initiativ es with the help of civ il society organizations who are ex perts in their own domain like the corporations who are ex perts in their own field. Hav ing a pool of ov er 4000 NGOs, Fiinov ation has been working towards facilitating a connect between the right NGO with the corporation. Thus, we forge a partnership between corporations and civ il society organisations. This partnership directly impacts the communities who are the ultimate beneficiaries of the CSR initiativ es. Based on triple bottom line approach and tailor made projects, Fiinov ation suggests corporations on way s of allocating funds in a particular project. From implementation, monitoring and ev aluation to its assessment. Management Framework Fiinov ation ensures funds are followed by onground impact. The initiativ es are designed on the result based management framework with special emphasis on sustainability ensuring that positiv e impact is being created in social, economic and env ironmental areas. We hav e different practices such as initiativ e design and management, CSOCSR partnership, impact assessment and sustainability reporting that help ensure these CSR objectiv es of the corporations are met.
We started our journey in 2008 with a fourmember team, and now we are 1 00 member team that is working to bring a change in the social sector, across four areas education, health, liv elihood and env ironment. We are known for hav ing Asia's first proposal research laboratory primarily focused on health, education, liv elihood and env ironment. With the help of the team, Fiinov ation aims to enhance quality through innov ation and ex tensiv e work across organizational v alue chain. Ov er the y ears, Fiinov ation has successfully created a niche for itself in the CSR domain. CSR and Sustainability Similar to all start ups, we had our own set of challenges. But what made our hurdles ev en more unique was we came from a v ery niche domain, wherein, we not only had to make people aware about our serv ices but handhold them towards comprehending the importance of CSR. One can gauge the difficulty from the fact that a handful, of about 1 00 companies, was inv olv ed in CSR. It prov ed to be a task for us to make others take the social dev elopment sector seriously . We concentrated our focus on sectoral research in our inhouse proposal research laboratory bringing in professionals from the field in our team. To further spread the awareness, we shared our v iews at v arious national and international conferences while lending v iews on the importance of CSR and sustainability with industry leaders and CSR professionals. These interactions helped us in bringing out the best research and strategies.
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