Columnist

The importance of developing a good CSR policy

To many companies with a local, regional, national or global profile, they should do their best to ensure that they’re seen to be doing some good. Known as Corporate Social Responsibility (CSR), companies determined to try and show themselves in a positive light will either link up with a charity, a local community or a worthy cause.

Being socially responsible comes with benefits for both the cause/charity a business is championing and the firm itself. The charity receives some much-needed funds and publicity, while the company who are acting as patrons are seen to be doing something good, which could go down well with customers.

CSR doesn’t just have to be about backing a charity. It could involve working with a community group, campaigning on an issue such as the environment or even doing something like hiring long-term unemployed people in paid work. It could even be as simple as using recyclable or locally-made material.

A prime example of how CSR can work well is the partnership between supermarket chain Tesco and Cancer Research UK. Tesco have agreed to donate money to the charity while also publicising every fundraising initiative it plans to launch.

Given that Tesco have suffered numerous blows to their corporate image in recent years, the link with Cancer Research UK could help to significantly make their brand less cold and distant. It could also show that they’re committed to linking up with more charities in the future.

A similarly successful example of CSR in action is Ladbrokes and the Breast Cancer Campaign. On the bingo at ladbrokes site, players can see the charity’s logo and are encouraged to make a donation. This move will help to make the Ladbrokes brand seem friendlier; while at the same time will boost donations to the charity.

To try and ensure that they stay in the good books of consumers, companies should look into the way in which they tap into CSR. It can do so much in terms of boosting image, while worthy causes which need a little more in terms of publicity and funding could benefit even more.

There are certain causes such as the fight against cancer, the environment and homelessness which are close to the public’s heart. By showing the world they’re doing something positive, companies won’t have to worry too much about being seen as soulless firms that are only after one thing – money.

This was posted in Bdaily's Members' News section by David White .