Trusted Advisers Team The Business case for Corporate Social Responsibility The business case for CSR is undeniable, the drivers for companies to act ethically and with integrity is now crucial for their reputations when dealing with informed employees, consumers, communities, investors and other stakeholders. The direct benefits of CSR are many, it is shown to: The report reviews key trends in CSR and identifies the direct and indirect benefits of businesses engaging in strategic CSR practices.
Think before you print. And while corporate social responsibility CSR is typically associated with large companies, rather than small businesses, as the need to attract and retain the up and coming cohort of Gen Y and Millennials intensifies, companies of all sizes are quickly learning that social responsibility has become a contemporary advice business imperative.
For advisers looking to sustain their business in the long term, CSR is one of the keys to connecting and maintaining relationships with this generation.
What does a socially responsible business look like? CSR is about having a purpose that is about more than making a profit, and having a set of ethics and values that run right through the heart of a business.
This includes meeting certain standards such as fair wages for employees, charitable donations, and transparent reporting. Other socially conscious issues important to Millennials include open-mindedness on diversity and lifestyle choices and the passion to volunteer and make a difference.
Start small, think big Ask yourself what you value and believe in and align your business accordingly. By staying local and helping a charity or community project on your doorstep, you can easily see the difference your help is making and technology has now made it easier than ever to share the good news with clients.
Opportunities include setting up a CSR page on your business website, sharing CSR activities and milestones through social media, and including CSR values in marketing collateral.
Other opportunities include offering tailored investment options that appeal to the socially-conscious values of clients. Ireland has one of the highest levels of youth suicide in Europe, and with rugby being an Irish institution, the team at Zurich Ireland saw an opportunity to apply to the Zurich Z Foundation for funding to combine rugby and the issue of mental health for a three year campaign.
Several employees have also come forward to act as ambassadors, telling their own stories and helping create a movement internally. The campaign has been a great success so far, with other offers of support coming from both private and public sector. Our partnership with World Vision allowed us to train community coaches to get kids active, whilst teaching them about the importance of a healthy, balanced diet.
Malaysia has a concerning number of children, who are either obese due to eating too much junk food, or undernourished through lack of healthy staple foods. By empowering our employees and community leaders to become coaches, and help change behaviours, Zurich is already seeing the health of children improve through our annual health checks.
Business Ethics. This page provides a guide to the best sites on business ethics, ethics management, ethical business, corporate governance and corporate social responsibility. Corporate social responsibility (CSR, also called corporate sustainability, sustainable business, corporate conscience, corporate citizenship or responsible business) is a type of international private business self-regulation. Get all the corporate social responsibility and sustainability news, reports, events and information from CSRwire today!
The business case for corporate social responsibility There is a clear link between an organisation's environmental and social impacts, ethical practices and quality of its corporate governance and its long-term business success.
2 The Business Case for Corporate Citizenship Various studies have demonstrated a link between reputation and financial performance. A study of companies over an year period by two Harvard professors concluded that.
The Business case for Corporate Social Responsibility. The business case for CSR is undeniable, the drivers for companies to act ethically and with integrity is now crucial for their reputations when dealing with informed employees, consumers, communities, investors and other stakeholders.
6 A.B. Carroll, ‘The Pyramid of Corporate Social Responsibility: Toward the Moral Management of Organizational Stakeholders’, 52 For Case tdies on Cororate ocial Resonsibility. Today’s executives are dealing with a complex and unprecedented brew of social, environmental, market, and technological trends.
These require sophisticated, sustainability-based management.