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Corporate Social Responsibility (CSR) initiatives are becoming increasingly important for companies. It enhances their reputation and demonstrates their commitment to making a positive impact on society and the environment.
Know moreCorporate Social Responsibility (CSR) is a key component of organisational operations, with companies looking to have a positive impact on society and the environment. However, measuring the impact of CSR initiatives can be challenging.
Know moreCorporate Social Responsibility, or CSR in general, is a set of self-regulating practices that an organization adopts to make itself socially accountable to itself, its stakeholders, and the public.
Know moreWhen undertaking a Corporate Social Responsibility project, there is a process of reviewing the financial and operational performance of the Non-Governmental Organization (NGO) that you partner with.
Know moreSocial Return on Investment (SROI) is a method for measuring the social, environmental, and economic impact of a project or initiative. It is a tool that helps assess the value of a Corporate Social Responsibility project beyond its financial returns.
Know moreCSR formally launched in India in 2014. It was 5 years after we at SoulAce began our journey of establishing relationships between Corporates looking to give back and suitable NGOs and communities that could benefit from such projects.
Know moreIf you run a business that is set to engage or already engages in CSR activities, you will know that no Strategy is complete without a plan for Impact Assessment.
Know moreGiven the recent healthcare crisis during the pandemic, upgrading the healthcare infrastructure and technology has become imperative. Cracks in the structure have become more prominent and Corporates, NGOs and the government must join hands to fix the gaps.
Know moreIn the world of project undertakings, one of the most significant areas of assessing position and substantiality is conducting Impact Evaluation Studies.
Know moreThe 21st-century world is a market amalgamation of different sectors coming together to make profitable outcomes while impacting their surrounding world.
Know moreSocial Impact Assessments are regulatory tools used worldwide for developmental projects. Before we delve into the why let's ask ourselves: how do we define Social Impact Assessment?
Know moreImagine you have conducted a baseline study and allocated a budget for your organization’s CSR practices. What comes next? Ensuring your CSR funds reach the cause and are utilized to their best capacity may seem like a daunting task. This article will present you with some tips to make sure you move forward in the right direction.
Know moreThe role of CSR for society is a momentous one as it has the ability to pave the way for the progress of the community. It is a responsibility shouldered by every member of the company and benefits multiple stakeholders, including the benefactors themselves.
Know moreEmployees make up an essential part of the framework that contributes towards a company’s CSR aims. In the present times, recruiting and retaining top-tier and motivated employees is ascertained also by its dedication towards its social responsibilities.
Know moreIt is a comprehensive process of assessing the impact created by the company in the lives of the beneficiaries. Assessing the impact of a CSR project helps to understand the impact outcome of the project.
Know moreGiven the growing importance of social responsibility in business, Corporate Social Responsibility (CSR) is quickly becoming a fixture in modern business lexicon.
Know moreSociety has transitioned towards the digital, best it is adapting to this transition now.
Know moreOne of the cornerstones of a successful CSR initiative is its quantification and evaluation.
Know moreSince CSR has become a legal requirement and now plays a big role in creating a brand image for the company, CSR optimization gives companies the chance to show tangible value creation.
Know moreToday, it is mandatory for companies conducting CSR activities above a certain amount to conduct impact assessment.
Know moreThe SoulAce software platform for employee volunteering in India continuously updates information with requirements for volunteers for different projects that employees can choose from. It can be customized to reveal opportunities that align with the aims of the companies and their employees.
Know moreBesides complying with government regulations, incorporating fund utilization audits for companies can have numerous benefits for firms such as, Avoiding Penalties, Lending Sustainability to CSR Activities, Building Trust among Partners, Implementing Realistic and Scalable Models.
Know moreCorporate Social Responsibility (CSR) is an essential system in creating ethical business models worldwide. Countries regularly update their rules and regulations regarding CSR to improve its impact. The Ministry of Corporate Affairs in India provides comprehensive and dynamic documents, acts, and FAQs to better understand the role of CSR and its implementation by qualifying companies. This includes fulfilling their duties towards alleviating social or environmental issues and creating a more inclusive and sustainable space.
Know moreCSR Monitoring Platform helps in Creating a Central CSR Database, Strategizing for CSR Initiatives, Allocating Responsibilities and Proper Recognition, Efficient Impact Assessment and Report Writing & Sharing the Company's Achievements and Improving its Transparency.
Know moreThe need for a responsible, transparent, and efficient monitoring platform of the CSR projects has always been a critical need for the corporations executing Corporate Social Responsibility and abiding by Section 135 of the Companies Act, 2013. This CSR project monitoring software includes periodic performance evaluations to track the company’s progress and impact in terms of the Key Performance Indicators (KPIs).
Know moreCommunity investments play an important role in CSR and is one of the growing CSR strategies. It can be direct cash, non-cash contributions, or grants from the foundation. Sustainability is no longer a standalone CSR objective. It should be part of a consistent approach for CSR that aims for the sustainable development of an organization. No organization wants to stay behind when it comes to social impact and sustainability. This is the reason why benchmarks are helpful for the organization to measure the progress of CSR projects.
Know moreCorporate Social Responsibility (CSR) is now an essential part of the corporate world and is no longer a choice or profit-making agenda incorporated in some business houses. It is desired that the proper measures to understand the CSR activities as it is now one of the potential aspects in the companies’ regulations, and almost all the corporate houses have adopted it in their policies to concentrate on a more sustained environment.
Know moreCSR software manages, administers, and tracks CSR programs that might include environmentally responsible operations, grants and sponsorships, sustainability management, community giving, and corporate volunteer management. These solutions help companies share their CSR program accomplishments with customers, employees, and investors. Additionally, corporate social responsibility software helps businesses continually improve their policies and practices to support their CSR values.
Know moreCSR Impact Assessment is the process of comprehending the impact that has occurred in the lives of the beneficiaries, where the project was implemented. This helps to understand the overall outcome and impact of the project from the eyes of the beneficiaries. The New Rules in the Companies Amendment Act have brought in some changes which show Government’s encouragement towards the corporates to pursue impact assessment for their ongoing CSR projects.
Know moreA year has passed since the implementation of the project, planned to resolve the issues of water scarcity at Satara District, Maharashtra. Recently our Team visited the Satara District, to conduct a CSR Impact Assessment study of the Water Harvesting Project. This project was executed last year by our Corporate Partner.
Know moreToday, nearly every company strives to solve a problem. It could be a global problem or a more community-level problem. Businesses who address the concerns of customers and other stakeholders are likely to be more successful. In addition to building monetized products and services, a business also has the opportunity and responsibility to help and donate to its community or society at large through the Corporate Social Responsibility (CSR) policy.
Know moreSoulAce conducted a Social Return on Investment (SROI) study of a Girl Child Education Programme in Thoothukudi, Tamil Nadu. This project began in 2012 and aimed at supporting girls with a range of social, academic and material support to enable and empower them to continue schooling by minimizing social and economic constraints.
Know moreDuring the 2017-18 financial year, the total CSR expenditure in the country was Rs.7,536.30 crore. This is a 47% increase from 2014-15, when the Amendment was first enacted. Specifically, education has consistently been among the most favoured sectors that companies have invested in, with the year 2018 seeing INR 2202 crore being spent on this sector alone.
Know moreIn 2014, India introduced CSR law being the first country in the world to make it mandatory. The corporate sector was initially taken by surprise and many of them perceived this as an additional tax burden. India also saw a new government in 2014, which was under pressure by Industry Bodies and Associations to overturn the law.
Know moreIndia has the world’s richest tradition of Corporate Social Responsibility (CSR). The term CSR may be relatively new to India, but the concept dates back to Mauryan history, where philosophers like Kautilya emphasized on ethical practices and principles while conducting business. CSR has been informally practiced in ancient times in form of charity to the poor and disadvantaged.
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