PR News 2 minute read
Genesis Burson-Marsteller has tied up with CSR consulting firm, WhiteKettle Consulting, to offer services that will help clients create and execute social impact strategies with sustainable business growth.The two companies will offer a blend of service lines that provide an evidence-based and idea-driven approach, along with reach extending from major metro cities to tier II and III markets. The suite of offerings includes training programmes for Company CSR Bill and ISO 26000 compliance, sustainable CSR strategies, behavior change interventions, stakeholder management, advocacy, and employee engagement – all designed to support the clients’ business objectives.
While a substantial growth opportunity, experts believe that CSR services offered by PR will have to include a component of implementing the programmes itself. At a seminar organized by G-BM on CSR and to announce the partnership with WhiteKettle Pradipta Sen, President of India, Middle East & Africa, Emerson Electric Co, pointed out that one of the biggest challenges companies face for uptake of CSR services is the lack of scale for programs offered by NGOs in India.Dr. R Sankar, Country Manager, India and Senior Adviser, South Asia of Global Alliance for Improved Nutrition (GAIN), responded to this by saying that capacity is there and it can be built.
Typically, many NGO programs in India suffer from a lack of scale due to both a shortage of resources as well as a vision about how to mainstream CSR for the corporate sector.
A key factor would also be how to measure the CSR impact on. A major study at Desautels School of Management at McGill University in Canada has established a direct and measurable link between corporate social initiatives and financial performance. The study researched four secondary sources about the financial performance, of US based publicly listed companies. This was done between the years 2000 and 2009.The extensive and long research undertaken by Professor Saurab Mishra has shown that an increase in a company’s positive CSR will lead to a 20% reduction in financial risk whereas an increase in negative CSR will result in an 11% increase in financial risk.