9/23/2015
SME Magazines Small Business Entrepreneurs Magazine Online in India
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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.
http://smeworld.asia/Focus.aspx?Focus=Focus91/fiinovationforgingpartnershipsbetweencorporationsandcsos#.VgIru8uqqkp
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9/23/2015
SME Magazines Small Business Entrepreneurs Magazine Online in India
In order to better connect CSOs with corporations, the gov ernment of India introduced the new Companies Law in 201 4. This has opened doors for a wide spectrum of opportunities for the CSOs and corporations to work collectiv ely on a common platform and find implementable and simplified solutions to societal issues. As part of a niche industry such as CSR, which has only started to gain ground, it is understandable that it will take time for the change to really take effect, but the process has started. Away Forward Fiinov ation understands CSR is here to stay , especially after the recent mandate by the gov ernment. Ev en though it is still ev olv ing and at a nascent stage, corporations will now activ ely get inv olv ed on ground while CSOs hav e been presented with a huge opportunity to get the support they hav e been looking for. As a CSR consultancy , we also hav e to continuously ev olv e with time with new innov ativ e ideas and strategies that are implementable. We also need to meet the ex pectations of both the corporations as well as the civ il society organizations. It is a talked about sector and a much needed one for the degradation that the society at large is facing, the effects of which will be witnessed in times to come if nothing is done now. We believ e CSR is the way forward. Within a short span of time, we hav e been acknowledged at international and national platforms. Our efforts led us to win 'CSR Team of the Y ear' at the Global CSR Ex cellence & Leadership Awards 201 5 and 'Caring Company Award' at the World CSR Congress 201 5 in Mumbai. Apart from this, we were adjudged the 'Manager of the Y ear' & 'Best Enterprise of the Y ear in the field of Health, Education, Env ironment and Liv elihood with a focus on CSR & Sustainability ' Socrates Awards by European Business Assembly at Summit of Leaders 201 4 at Ox ford. We were also adjudged the 'Best Innov ation: Product or Serv ice' for CSR & Sustainability at the World CSR Congress 201 4 held in Mumbai, India.
About Soumitro Chakraborty Soumitro Chakraborty , created a niche in the CSR and Sustainability industry and established Fiinov ation in 2008. He has strategized and implemented CSR and Sustainability programmes across India in partnership with v arious corporations and NGOs working in the field of health, env ironment, education and liv elihood. With fiinov ation, he put together 'Asia's First Proposal Design and Research Laboratory ' on CSR and Sustainability , which works towards conv erting challenges into opportunities by conducting thorough research and prov iding simple and strategic solutions to organisation. Backed by a rich ex perience in the serv ices and social sector, Chakraborty serv es on the board of sev eral organizations as an adv isor for sustainable dev elopment, corporate social responsibility and env ironment management. He is also a v isiting faculty to some institutions like the Institute of Directors for 'Sustainability Corporate, Social and Env ironmental Responsibility ' and has participated at v arious ev ents as a panelist, speaker, jury and moderator and has also contributed his v iews on CSR & Sustainability in numerous publications. Chakraborty has been a part of sev eral seminars and conferences including Institute of Directors (IOD) National Conv ention on Corporate Gov ernance and Sustainability , CII Conference on 'Bridging the Gap: Building Ecosy stem for Inclusiv e V alue Creation' 201 4, IOD 1 4th Global London Conv ention 201 4, 1 6th World Congress on Env ironment Management in 201 4, and many more. Under Chakraborty 's able leadership, fiinov ation was conferred with the 'CSR Team of the Y ear' at the Global CSR Ex cellence & Leadership Awards 201 5 and 'Caring Company Award' at the World CSR Congress, Mumbai. He was bestowed with the medal of 'Manager of the Y ear' and 'Best Enterprise of the Y ear' in the field of health, education, env ironment and liv elihood with a focus on CSR & Sustainability by the European Business Assembly , and the 'Summit of Leaders' Socrates Award Ceremony in 201 4 at Ox ford, UK. He is also the recipient of the 'Best Innov ation: Product or Serv ice' award at the Social Innov ation Awards, 201 4' at the World CSR Day and has also won accolades for his innov ativ e ideas and his dy namic leadership at fiinov ation.
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