The CSR Strategy

Corporate Social Responsibility, often called CSR, is a company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. It refers to an organization’s initiatives to assess and take responsibility for the company’s effects on environment and social wellbeing.

CSR strategies encourage the company to make a positive impact on the environment and stakeholders whilst they create business value for themselves. One key aim CSR purports to achieve is to increase the long term profits and shareholders trust.

Since the benefits accruing from taking responsibility are earned in the long run, it is paramount that a well-articulated strategy be included in the company’s overall planning process. By taking a strategic approach, you could determine the activities you have the resources to dedicate to and even get to choose the ones that will propel their STAY AHEAD ADVANTAGE.

A good CSR strategy turns people’s opinion of companies from a “Them” to an “Us”.Undertaking socially responsible initiatives is truly a win-win situation. Not only will your company appeal to socially conscious consumers and employees, you will make a real difference in the world.By doing good deeds without expecting anything in return, companies are able to express their concern for specific issues and support of certain organizations.

How we do ensure that our CSR strategy creates business value for our company?

It’s no harm that your CSR strategy brings in business value; it’s in fact a necessity so we don’t set our company on a liquidity mission. Just like any well propagated marketing technique, your CSR strategy could be a blessing if the following points are followed:

• To begin with, you need to really understand what your core social purpose is, there is a reason why you are in business beyond making money and your strategy must connect to it. The knowledge of this will help create a solid strategy.
• Next in line are those you are those you are trying to reach out to with your help. Who cares and how much? Just like you do in formulating a marketing strategy, you need to identify the ideal benefactors’ spectrum.
• Having found out those who you are particularly responsible to, you would have to be deliberate in dealing with them. This implies that you have to focus on the right issues. What problems are they facing that you are socially responsible for? Whatever issues that the public sees as important, you should take notice of.

These are basics to formulating a cohesive CSR strategy but not all there is to it. Your social responsibility is restricted to your outside environment alone, it should affect those inward. By treating employees fairly and ethically, companies also demonstrate their corporate social responsibility.It’s worthy of note that your CSR strategy is a contributing factor in determining where top talents choose to work.

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