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SR Digest offe
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Exploring
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or sacrificing profits in the so
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Hopkins states in his short article, is how profits are made. Senior brand and engagement
consultant, Dan Gray, wrote on his blog that more harm can arise from pulling out in the
current economic climate that maintaining CSR efforts. He states, “… companies that pull
back from CR are liable to label their activities as opportunistic, rather than an integral part
of a considered, long-term strategy.”
According to Ethical Corporation, “smart companies will know that well-thought-out
programmes can be worth the investment, given that, let’s be honest, CSR is cheap
compared to advertising spend, or paying staff more money.”
The Ethical Corporation goes on to list ten reasons why CSR should remain the focus of
business while the economy takes a dip (click here to read the full list). A few of the reasons
Ethical Corporation cites for maintaining CSR efforts are:
1. Some CSR initiatives does not cost that much, or sometimes even saves money
2. Reputation, transparency - and integrity - are still important.
3. Communities feel vulnerable.
4. Customers are worried and need reassurance.
5. Think about the short term future (recessions don’t last forever).
Furthermore, Business for Social Responsibility (BSR) pinpointed five key CSR trends that
provide great rewards for corporations. These trends are said to be good business strategy,
namely:
1. Better Return on Investment (ROI), from cost savings, enhanced reputation to indirect
benefits like employee satisfaction.
2. Increasing Rewards for Communities and Workers.
3. New Media and customers’ increasing knowledge on CSR
4. Carbon Footprinting Reaches Supply Chains.
5. New Opportunities in Environmental Markets.
It must be added that CSR, in South East Asia at least, is relatively new. In Malaysia, where
reporting compliance for CSR is just two years old, to opt out of CSR initiatives would cause
the public to view all previous CSR less than seriously.◊

 
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