Is there a business case for CSR?
There is a business case for CSR. However, working with CSR does not create value in itself. CSR must be more than a simple 'add-on' to the corporation's other activities. Each corporation's unique business case must be carefully identified and developed in relation to the corporation's core competences, challenges and opportunities. Some of the benefits that CSR activities can entail if identified and implemented competently are:
- Improved corporate innovation
- Competitive advantages
- Reduced costs
- Increased sales
- Enhanced brand image and reputation
- Improved customer loyalty and confidence
- Improved staff motivation and performance
- Improved government relations
Most corporations addressing CSR focus on compliance. However, there is a huge untapped potential for corporations to work strategically with CSR and Corporate Social Opportunities.This is also the approach recommended by the Danish Government's 2008 Action Plan for CSR where the term ‘business-driven social responsibility’ is interchangeable with strategic CSR and CSO.
GLOBAL CSR can assists corporations in identifying material opportunities and drawing up suitable CSR strategies to complement the core business strategy. In addition, GLOBAL CSR has extensive experience in implementing CSR strategies, including training of executives, managers and staff.
Questions and Answers on CSR:
- What is CSR?
- What is an international Principles-Based Approach to CSR?
- What is the link between Human Rights and CSR?
- What is the Triple Bottom Line?
- What is CSR Compliance & Opportunities?
- Does CSR have the potential to create sustainable development?
- Is CSR also relevant for governments?
- Is CSR also relevant for SMEs?
- Is CSR only relevant in relation to corporations operating in or sourcing from emerging economies?
- Are Human Rights relevant for private corporations?
- Is there a business case for CSR?
- How can corporations perform Responsible Supply Chain Management?
- What are the implications of the Danish government’s “Action Plan for Corporate Social Responsibility” for Danish corporations?
- How can GLOBAL CSR assist in relation to CSR?