How Businesses Can Choose the Right NGOs for their Social Investments

by Avadhesh Sharma SEO Analyst

As the context in which different businesses play changes from one of just profits maximization to public or societal good, value creation and responsible business practices, a business must have the system and knowledge for shared value creation among its stakeholders. Along with this as businesses carry out various social investments, these tend to see successful partnerships with the companies, generally NGOs (Non-Governmental Organisations) or non-profits that can implement different CSR or corporate social responsibility projects. These partners can help make or mar a project.

The social investments are carried out by the business to form a business value, achieve the long-term vision of the company, positioner societal impact, raise the performance of the industry as well as benefit from the leveraging potential of your projects. This means that using the positive outcomes of the project in various aspects of the business.

Creating the benefit and needed value from the social investment always go beyond throwing huge sums of money at the partners. It involves and needs a structured and systematic process. Business is encouraged to develop criteria for energising with the best NGOs in line with the best practices. Most of these criteria apply or can be changed to meet the needs of different businesses although some of these are location-based as shall be discussed. Using the below criteria, businesses can select the right NGO partners that will help deliver measurable and sustainable value to them and their host communities.

Formal Existence

While choosing an NGO the first thing that you should look to is whether the organisation is registered formally or not. Registered NGOs are the legal entities that you can hold accountable if something goes wrong. Also as there will be the necessary documents the companies that are registered are compelled to be transparent in their business. One should take note that the companies that are registered should be engaged in the business more than the unregistered NGOs. Though it is very unusual for the forward-thinking business to be part of normalisation or setting up of a non-profit if there are align visions.

Documentation

This is more or less retailed to the above-mentioned point. Along with the best practices, the businesses should also request the documents that are necessary for the prospective NGO partners. Some of these documents can be included for the formal registration certificates, relevant policy documents, copies of the audited accounts between 2-3 years and many more. It is worthy to take more than the types of documents that are requested from the NGOs should be location-specific.

History And Credibility

Except for the case of seed funding, the businesses should have a look at the records of the NGO. This will be useful for assessing the reputation, credibility and also what kind of partner the NGO will be. This will also help you inform businesses of the expertise, potential and capabilities of the NGOs they are looking forward to working along.

Mission Alignment

For both the organisation, there is a need for the alignment of goals. This makes no value sense for the business which wishes to have an impact in the area of programming or coding to partner with a business seeking to decrease environmental pollution through water education in the slum areas. Responsible and sustainable businesses have goals that affect the triple bottom lines, profit and people planet. These goals must correlate with that which the NGO partner is putting ahead.

Choose the right NGOs following these points.

To know more visit: NGO Club