MAKING A POSITIVE IMPACT :
5 WAYS TO DEVELOP EFFECTIVE CSR PROGRAMMES THAT MAKES SENSE FOR BUSINESS
5 Ways to Develop Effective CSR Programmes That Makes Sense for Business
By Valerie Teo , Senior Marketing & Communication Executive , Nexia TS
CSR strategies are more effective when companies build them around causes that matters to their customers while utilising the company ’ s core competencies . A sustainable CSR program means evaluating and adjusting CSR programs according to the resources that is available while keeping in-line with key social trends .
Gone are the days where companies acted solely for its own benefit . Instead , companies are increasingly called upon to play their role as a responsible corporate citizen , one that plays their part for the community and environment . When CSR is done right , companies are rewarded and when it is done wrong , companies find themselves with bad reputation and possibly even bad business . It is therefore important for companies either big or small to carry out their responsibilities as a corporate citizen , but the question is how should companies go about implementing , enhancing , or re-inventing their CSR strategy ?
One , building your CSR strategies around the company ’ s core competencies . If a company has strengths , research or knowledge in a specific area then supporting a cause that aligns with that will be a win-win for both the company and community . For example , a legal firm may partner charities to provide pro bono legal advice and representation to local communities or individuals giving those in need access to justice . Restaurants and cafes may consider donating perishable food to elderly homes instead of throwing them out . Restaurants may benefit by enhancing its reputation and reducing food waste while the beneficiary benefits from having more food on the table at mealtimes .
Two , adopting causes that matter to the company ’ s one or more consumers group . Studies have proven that customers are loyal to companies who support social or environmental causes that they care about and reward them through purchases . International skincare and cosmetic brand Estée Lauder Cos . whose main customers are women have lent their support for breast cancer awareness since breast cancer is a common disease amongst women . It is easier for their main customer to empathise with the cause as it is an issue that is significant to them .
Companies who accumulate social capital at the firm level , industry and societal level over the long-term , benefit from a better brand recognition , positive business reputation and operational cost savings .