Caption: Corporate Social Responsability. Photo: Yayimage
Far from being just another passing trend like some others from the management field, CSR (Corporate Social Responsibility) is an essential element for any company that wants to survive in the modern world.
CSR is important because:
1. Today’s consumer demands a committed and socially responsible company where ethics play a prominent role.
2. Other stakeholders demand the same high ethical standards, from employees, shareholders, unions, the media and other institutions.
And, businesses need customers to survive, that’s why CSR is best interpreted from three basic angles:
A business must demonstrate clarity and transparence in its accounting and financial policies and comply with standards. This is the norm of any good economic and financial governance. Apple is a great example of this transparency by publicizing its values and responsibilities on its website.
A company should have a positive social impact on its local community. Microsoft does this well by leading the way with charitable donations, investments and innovation projects. In doing so, Microsoft not only improves its corporate image, but also helps make the world a better place. Another example of the company’s commitment to its CSR is offering Office 365 free to NGOs and not for profit organizations.
A company’s activities should always respect the environment. A brand that stands out here is Tesla, an American company that designs, manufactures, and sells luxury electric cars, electric vehicle powertrain components, and battery products.
Another brand that puts effort in protecting the environment is Toyota with its Prius Model, a hybrid car that reduces CO2 emissions.
For a CSR campaign to be effective it needs to be more than just a tactical strategy. It must reach the very heart of the company’s mission, values and objectives and be played out in everything the business says and does.
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