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The most commonly asked question we've experienced is included below and provides general information about the value and benefits of Corporate Social Responsibility (CSR).
Q. What is corporate social responsibility (CSR) and why should a corporation be involved in it?
A. As global trade and communication technologies have advanced in recent years, the spotlight on the corporate sector has intensified. The public can access a wealth of information about any given company by spending as little as 15 minutes on the Internet. Consumers, investors, activists, and policy-makers have become more attuned to how companies address societal, environmental, and economic challenges and often demand that corporations do more to meet these challenges.
For example, a law firm that uses 1000 reams of paper a day might offset this environmental impact by working with forest conservation organizations or a nonprofit that supports West African farmers making paper from bamboo, a more sustainable resource. A company that is engaged in CSR recognizes its responsibility to the greater community and environment and incorporates that responsibility into its business plan. |
Indeed, because these challenges and demands often impact a company's ability to fulfill its business goals, development of a responsible, practical CSR strategy provides benefits beyond philanthropy. CSR, in fact, has become a means to achieving corporate success.
Engaging in CSR has many corporate benefits, depending on the types of activities undertaken:
- Enhanced image and reputation
- Greater visibility/brand recognition
- Customer and shareholder satisfaction
- Enhanced image among lawmakers and regulators
- Solid community relations
- Employee pride and attraction/retention of quality workers
- Creation of new markets, customers, and products
- Increased revenues and/or reduced costs
- Better educated workforce
- Solutions to global problems that can impede business opportunities
The world has changed for nonprofit organizations as well. Many are seeking non-traditional ways of expanding, exploring, and developing better models for furthering their cause or mission. Funders are demanding greater accountability and measurable goals from the organizations they support.
To maximize success, both commercial and nonprofit organizations must view their differing missions and motivations as opportunities to work together to advance collective social goals. Whether actions are driven by altruistic or economic motives, the corporate and nonprofit sectors, by working together, can facilitate meaningful change that will deliver success on a variety of fronts.
The Sapphire Alliance is uniquely positioned to identify the intersection of interests between business and nonprofits and bring them together to leverage their actions to meet their goals.
