What is the Strategic Partnership Board?
The Strategic Partnership Board (SPB) is tasked with working closely with, and on behalf of, Discovery to advise on the direction of our social value return (the surplus income generated and transferred to a designated reserve for the purpose of achieving social objectives).
Why does it exist?
Discovery is a Social Enterprise and has been awarded 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 liaises 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 Strategic Partnership Board is a small group with clear links to all stakeholders. The purpose of the link is to ensure the actions of the SPB are aligned with the 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 demonstrating 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.