The triple-bottom-line approach, also known as the 3Ps (People, Planet, Profit), can help in solving the issue of deciding on a specific community outcome for the bursary CSR project.
To begin with, the staff meeting should focus on brainstorming and discussing potential community outcomes within the framework of the triple-bottom-line approach. Here's how each aspect can be addressed:
1. People: The first step is to consider the social aspect and identify how the bursaries can benefit the community. It could be directed towards underprivileged students, talented individuals in need of financial support, or specific groups such as minorities or differently-abled individuals. By prioritizing people, the company can contribute to creating a more inclusive and equitable society.
2. Planet: The second step involves considering the environmental impact of the bursary project. This could be achieved by aligning the project with sustainable practices, such as supporting students pursuing degrees in environmental sciences, renewable energy, or conservation efforts. By promoting environmental values, the company can contribute to a more sustainable future.
3. Profit: The final step is to align the project with the company's core business or industry. This could involve selecting students who are pursuing degrees related to the company's field, such as technology, engineering, or business. Supporting individuals who are likely to contribute to the growth and development of the industry will have a positive impact on the profit aspect of the triple-bottom-line.
After discussing these three aspects, the staff meeting should arrive at a consensus on the specific community outcome that the bursaries will address. It could be a combination of the three aspects or focus primarily on one, depending on the company's values and priorities. For example, the outcome might be to provide financial aid to underprivileged students studying in the fields related to the company's core business while also supporting sustainable practices.
Once the community outcome is determined, the bursary project can be rolled out through a well-defined process. This may include developing eligibility criteria, announcing the bursaries through various channels, and setting up an application and selection procedure. The company should ensure transparency, fairness, and inclusivity during the entire roll-out process.
To evaluate the success of the bursary project within the company, key performance indicators (KPIs) should be established. These may include the number of bursaries granted, the academic performance of the recipients, and their subsequent employment or contribution to the industry. Regular reporting and monitoring of these KPIs will provide insights into the project's effectiveness and impact on the company.
Additionally, the company should seek feedback from the community to evaluate the impact of the bursaries. This can be done through surveys, interviews, or other feedback mechanisms. Assessing the recipients' experience, their progress, and feedback on the project will help determine the success of the initiative in addressing the community outcome.
Overall, by adopting the triple-bottom-line approach, the company can ensure that the bursary project addresses a specific community outcome while considering the social, environmental, and economic aspects. Evaluating its impact both within the company and in the community will provide valuable insights for continuous improvement and inform future CSR initiatives.
Your company wants to give out bursaries as CSR project, but you can’t decide on a specific community
outcome. A staff meeting was called to discuss this issue. Explain how this can be solved through
the triple-bottom-line approach.
What community outcome will be addressed by your final project?
How will this be rolled out?
How will this be evaluated in your company and in the community?
1 answer
2 answers