All entries for Tuesday 02 February 2010

February 02, 2010

Corporate Social Responsibility

There are many definitions for CSR, but all of them coincide that it is a way to manage a business not purely focus on economic objectives, but trying to integrate the social and environmental impact with them, considering values and ethic principles. This means that the company produces benefits for both the business itself and for the community as well.

This topic is not only about doing social work for the passion of doing it, most companies take it as self-marketing, or part of a sales strategy, by improving the company's image, so it can be treated as one more business case.

I personally believe that CSR has a lot to do with social preassure, especially in recognised brands where they probably have no other option than directing an specific budget on it.

I once went to this International conference on Corporate Social Responsibility, and found it interesting the fact that they were talking about how to incoporate a fifth financial statement called CSR, where companies should measure the impact of the investment in CSR and identify how profitable it is for the business. Then I realised it is more than purely values and principles.

I do believe in CSR, but as a way to make profits out of it.....because even if I am trying to boost my sales, the help is still there (whatever my intentions are) you make profits by helping the community.

February 2010

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