What is the Strategic Partnership Board?
The Strategic Partnership Board (SPB) is a group of stakeholders who have no direct line management responsibilities. They are tasked to work closely with, and on behalf of, Discovery to advise on the direction of Discovery’s social value return (this is the surplus income generated and transferred to a designated reserve for the purpose of achieving social objectives).
Why does it exist?
Discovery has been established as a Social Enterprise and is tasked within the first year of its operation to achieve the Social Enterprise Mark.
This means that over 50% of any surplus must be reinvested with a social purpose. Discovery is structured and managed to comply with the three key areas of the Social Mark’s requirements:
- Robust Governance
- Ethical & Good Business Practice
- Social Impact & Financial Transparency
How will it operate?
In order to maximise any social value return, the Strategic Partnership Board recommend how the investment should be assigned. The SPB (established in the first year of Discovery’s operation) will only be able to commence any distribution from April 2019 onwards.
The SPB will liaise closely with both the Discovery Executive Team and Discovery Governing Board to ensure it’s well informed on potential investment areas and is promoting and capturing the positive impact of the new Social Enterprise.
The SPB is likely to be a small group (approximately 10-12 members), but must have clear links to all stakeholders. The purpose of the link is to ensure the SPB’s actions are aligned to views of wider stakeholders.
Achieving the Social Enterprise Mark cannot be at the expense of running a commercially viable organisation and one of the key deliverables to achieving the Mark is to be able to demonstrate that the business is investing for the future and for growth, i.e. how it remains sustainable as well as how it ensures it has a competitive edge.
Can I get involved in it?
If you would like to be part of the SPB or wish to know more details, please contact Discovery and we will be pleased to explain more.