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Trends Expected to Redefine CSR

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There is no fixed definition of CSR. But it is believed that companies have certain social, environmental, and ethical responsibilities they need to address. Businesses must use their resources to solve real-world problems which impact not only their immediate environment and stakeholders but society in general.

The social sector has played a crucial role in the implementation of major legislative changes, and in negotiating with the government on policy-driven interventions over the past several decades. Keeping that in mind, the sector is now undergoing a lot of transformation owing to technological development. The following are some of the trends that CSR is expected to witness in 2019.

NGOs will adapt to working with Corporates

Traditionally the NGOs have collaborated with the government or international aid agencies to operate. This has changed in the last few years since the corporates and businesses in the country have started taking more interest in the social sector as part of their CSR activity. The operating style of NGO is extremely different from that of corporates. However, in the coming year, NGOs will adapt to this change.

Corporates will not treat CSR as philanthropy

Sustainability issues and social responsibility have become a key consideration for business leaders and decision-makers in the corporate sector, in the last couple of years. Companies, therefore, are increasingly looking to integrate CSR as a mainstay for their managerial processes, decision-making, and overall strategy, with an aim to position themselves not just as philanthropic, but as socially responsible organizations.

NGOs will get more partnership offers from corporates

With the CSR mandate, the corporates have a budget to spend on social development. As the nature of a corporate call for optimum use of the funds allocated for CSR, they will need the expertise of NGOs. NGOs will in return not have to worry about funds and will be able to solely focus on ensuring that the maximum impact is achieved.

More for-profit organisations will contribute towards social development

Many for-profit business ventures have emerged that contribute heavily to tackling social or environmental issues. For example, the venture that converts plastic waste into industrial fuels. Or the venture that creates organic bacteria to prepare organic compost to reduce the use of chemical fertilisers in agriculture.

Technology will play a major role in building an NGO’s capabilities

For the social sector, adopting technology can facilitate a much-needed departure from the traditional mode of operating, to a more agile, transparent, and efficient way. Technology can address the structural issues within the social sector through solutions that streamline the way organizations interact, create greater transparency, digitize and automate workflows, etc.

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Regards,
The CSR Journal Team

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