Corporate Social Responsibility

What is Corporate Social Responsibility?

Corporate social responsibility (CSR), or “corporate citizenship” can be defined as a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders. It provides a way for organisations to evaluate their impact on the world around them, and to make changes that create positive effects within their communities.

It is the commitment of a business, beyond its legal obligations, to contribute to sustainable economic development, working with employees, their families, the local community and society at large to improve their quality of life, in ways that benefit both business and development.

The importance and nature of CSR has evolved significantly in recent times in the light of practical experience and evolving international standards on business ethics, sustainable development and CSR itself.

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Why should it be in place?

CSR has gained prominence due to growing social, environmental and consumer expectations regarding business. Corporations have come to realise that they can no longer operate in isolation of their environment and communities and that good governance and social involvement go beyond the work performed within their offices. A company’s Corporate Social Responsibility program presents an opportunity to genuinely reflect on its impact on society, and at the same time help the business to win contracts, attract investors and build positive relationships.

Today’s consumers are scrutinising businesses like never before and hold companies to a significantly higher standard. They are looking for more than just material products or quality services when choosing a company to work with.

In addition, advances in social media have resulted in negative or destructive practices quickly fueling conversations online, making organisations accountable for their actions like never before.

“9 in 10 consumers expect companies to not only make a profit but to also operate responsibly to address social and environmental issues.” (Cone Communications).
“88% of consumers said they were more likely to buy from a company that supports and engages in activities to improve society.” (Better Business Journey, UK Small Business Consortium).

The three tiers of CSR:

Businesses, Individuals and/or Corporations

To assess and meet their community and/or environmental development goals or endeavours. The driving force behind CSR is a mixture of business and social goals. Business goals include the creation of a favourable local and national operating environment, including the creation and maintenance of a positive reputation. There is a need for companies to maintain a strong corporate reputation as this adds value to the company and can significantly affect shareholder investment.

Communities

To improve their quality of life and promote sustainable development. There is always a general expectation that the local community should benefit from the industry that imposes on its livelihood – the quality of life should not diminish, the physical and cultural environment should not deteriorate, and there should be continued access to employment and earnings.

Government & Other Stakeholders

To plan and devise evidence-based best practices and policies for sustainable growth through CSR. There are many reasons for local government to promote CSR and good corporate governance. Well planned and managed CSR projects can contribute significantly to long-term sustainable growth and development.

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Management Of Public Relations

Public relations is directly linked to CSR in that, in order to obtain a visible return on investment, it is important that potential customers, investors, employees and local government are all aware of the good work a corporation is doing. In this respect, a successful CSR program should generate positive publicity and media opportunities.

Our PR specialists will ensure that you get maximum exposure and directly benefit from your CSR investment. We will ensure consistent local and international media coverage of the project/s as well as enter your company into any CSR Awards in order to guarantee that you get adequate recognition for your CSR activity.