Social Partnerships as a New Competitive Advantage
Over the past three years, the sector of social initiatives – state, corporate, and non-profit – has had to optimize resources and be open to partnerships. The involvement of numerous stakeholders in this collaboration presents a wide range of options for solving current problems and provides a synergistic effect not only for business, but also for society as a whole. Corporations with well-developed social investment programmes view their CSR initiatives not as a budget expense item, but as a contribution to improving the sustainability of their business, their appeal to employees, and benefits for the region where they operate. Until now, the assessment of the social contribution that businesses and private patrons make to the development of territories (from infrastructure renovation to the support of local communities) has been voluntary. However, the discussion about one-time contributions and ‘windfall taxes’ to the budget from the profits generated by major companies has highlighted the need to estimate and publicly present the social return on investments that aim to help their beneficiaries and develop specific territories. What is the best way to evaluate the social return on investment and see it as a competitive advantage? How does the government view business’s involvement in solving problems facing the country? Can more investment in developing regional infrastructure and maintaining socioeconomic stability in the regions serve as a response to a regulator’s demands? What successful examples of social partnerships across multiple sectors have emerged in response to the challenges of recent years? What contribution can joint projects with NPOs make to a business’s competitiveness?
