Much of today’s corporate social responsibility efforts can, and most likely intentionally, be spun as an advertising campaign. After all, business is business, and profit is the bottom line. But beyond the external benefits of acknowledging and nurturing the community, corporations can also use their CSR programs to build community within their workforce. Continue reading
Tag Archives: corporate philanthropy
In recent years Corporate Social Responsibility has become a mainstay for large companies. Full reports and benchmarking systems are now the norm. In addition to the corporate standard of foundations and grants, companies now adopt pet projects and host company-wide volunteer days. From robot-constructing contests to global environmental initiatives, these companies are going out of their way to give back to society. Continue reading →
As companies recognize the diverse benefits of expanding CSR initiatives, they increasingly allocate resources to the creation of their own independent 501(c)(3) entities to handle philanthropic tasks which exceed the capacity of a single internal department. Through their foundations, corporations take charitable efforts into their own hands and become champions of their own causes. Continue reading →
Recent economic instability has led companies to look for fresh ways to engage their customers and stay profitable and vibrant, and Corporate Social Responsibility (CSR) has quickly emerged as a front-runner among effective new methods.
CSR initiatives have been proven to increase corporate revenue; customers are more likely to patronize an organization that contributes to local or global causes. In a study measuring consumer perceptions of meaningful brands, 51 percent of consumers surveyed said they are “prepared to reward responsible companies by choosing to buy their products,” according to Havas Media. Additionally, 53 percent of consumers said they “would pay a 10 percent premium for a product produced in a responsible way.” Even more interesting, both measurements increased over 10 percent from the previous year’s results, illustrating the growing link between CSR and brand selection. Consumers are eager to make choices that affirm their values. As such, astute companies promote CSR initiatives to strengthen brands, broaden exposure, and increase revenue. However, consider the important question: How does CSR stimulate corporate vitality beyond traditional measurements of profitability? Continue reading →