An unprecedented increase in stakeholders expectations, rising awareness and consumer activisms and add to that governments, activists and media which have become adept at holding companies to account for the societal consequences of their business activities. As a result, CSR has emerged as an inevitable priority for business leaders in every country.
Most corporates are undertaking activities to improve the social and environmental consequences of their activities, yet these efforts have not been nearly as productive as they could be—for multiple reasons.
One: Historically shareholders and capitalism pits business against society,
Two: Business leaders tend to think of CSR responsibility in generic ways as in a percent of profits as donations
Three: The right format of CSR would be to frame one’s CSR strategy in the way most appropriate to each firm’s strategy. This is one of the critical missing pieces
Four: The current approaches to CSR are so discontinued, fragmented and so disconnected from business strategy as to obscure many of the greatest opportunities for companies to benefit society and in turn benefit the company
Five: CSR is seldom seen as a source of opportunity, innovation, and competitive advantage.
Six: CSR strategy is seldom based using core business framework
- Most corporates donate. And CSR stops at that.
- Some corporates take a cause. Spend time money and energy on the cause. But this is done in isolation at corporate office or with a handful of employees involved, mainly the directors, CSR or HR department.
- A few corporates understand CSR as a employee engagement mechanism. They rightly allow employees at all levels to engage in the corporate CSR activities. Such corporates embrace the true spirit of CSR. However their activities fall short in years of lower profits.
- A handful of corporates not only allow all their employees to be engaged but also frame their CSR policy in a way that it arises of and is intermingled with their corporate policy and supports the business. These corporates reap the major benefit of CSR. Since CSR in a broader sense contributes to their bottom-line.
We are of the firm belief that corporates should first ensure every employee understands the true spirit of CSR. Only if every employee is CSR certified: corporates can and will enjoy the true benefit of CSR. With such a belief we have created CASI: to promote the knowledge and cause of CSR & Sustainability.
To promote the cause, education and knowledge of corporate social responsibility & Sustainability, through certifications, certificates, events, training and memberships for individuals, corporates and educational institutes.
Every corporate should ensure that each employee has a basic knowledge of CSR & sustainability. This is as important as having every employee understand that the company needs profits to survive.
Every education institute should have certified professors and should incorporate CSR & sustainability as a part of the core curriculum.
Finally, every corporate, institute and organization should strive to have CSR & Sustainability intertwined with its core strategy. Not only for the Societal benefits of CSR but also since stake holders reward responsible corporates…this in-turn leads to a stronger bottom line.
We at CASI are dedicated to this cause.
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