Orient Magazine Issue 82 - June 2021 | Page 39

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Three , embracing innovative CSR tactics that makes sense economically . Traditional CSR was defined as annual giving programs , cause marketing campaigns and efforts were directed at reducing environmental resources . When the economy takes a turn for the worse , management may cut back on CSR programs because it is a cost item on the balance sheet . However , CSR can add to a company ’ s bottom line when it is skilfully woven into a company ’ s business fabric . This include taking the right business actions such as creating products or services that protects and benefits the environment or society and ensuring individual well-being . A good case study is Nike new shoe line , Move To Zero Shoes .
Four , consistently carrying out CSR programs over the long term . A company that consistently helps its communities shows that they genuinely care . One example is
Singapore-based international accounting firm , Nexia TS which continued to give back to the Boys- Brigade Share-A-Gift Project . Henry Tan , Group CEO & Chief Innovation Officer , Nexia TS who is concurrently the Chairman of Boys ’ Brigade , said , “ For CSR to be successful , consistency is key ! This means that we must be committed to the causes that we believe in even during difficult times .” The company has been giving back to the local charity for the last 13 years . In general , the media and public tend to look more favourably on companies who sincerely carry out their CSR commitments and reward them accordingly .
Finally , being flexible with resources and social movements . Good CSR plans need to be flexible ! For companies with limited budgets , this could mean revising budgets allocated to CSR programs , identifying non-profit partners to collaborate on a
Henry Tan ,
Group CEO & Chief Innovation Officer , Nexia TS who is also the Chairman of Boys ’ Brigade , said , “ For CSR to be successful , consistency is key ! This means that we must be committed to the causes that we believe in even during difficult times .”
MAKING A POSITIVE IMPACT :
5 WAYS TO DEVELOP EFFECTIVE CSR PROGRAMMES THAT MAKES SENSE FOR BUSINESS