Dollars and Sense Case for CSR- Corporate Social Responsibility
There are two schools of reasoning around CSR. On one side of the spectrum is the moral reasoning of being a socially responsible corporation. The other school of reasoning is the economic upturn of CSR.
There are substantial economic benefits for businesses that adopt CSR policies and practices. In fact, self-preservation in a brand-driven marketplace makes CSR almost mandatory. Every company has a brand. The “brand” can be good, bad, indifferent, or unknown.
“Indifference” and “unknown” can be remedied. A good brand can be enhanced to be even better. But once a company’s brand turns bad…
- How would you like to be the top PR officer right now for BP?
- How about PR officer or Safety Inspector for Toyota?
- Better yet… how about the SEC a la Bernie Madoff?
- Wall Street Public Relations Company???
But a positive brand can reap rewards for generations to come…
> What emotions come to your mind about the Chilean President and the Chilean Government in response to the mining crisis?
> Remember Johnson & Johnson’s open and immediate handling of the Tylenol tampering in 1982? People remember the integrity with which this was handled as if it happened yesterday!
Does your CSR validate and articulate the mission and vision of your company in a manner that is beneficial to you and your shareholders? Think about it…