Corporate Social Responsibility and the economic crisis
11 December 2008
The worldwide economic downturn this year has resulted in uncertainty about the future role of Corporate Social Responsibility. Much is being written about it and the internet is buzzing with views from CEOs of major companies, CSR publications and internet blogs.
The following snippets are just a few samples of the views being taken around the world, including within the US where the economic crisis is being felt on an intense level. The majority view held is that Corporate Social Responsibility is especially needed now as a strategy to weather the storm and ethically deal with the financial consequences of the economic crisis.
The Future of Corporate Philanthropy
BusinessWeek VIEWPOINT 08 December 2008
GE Corporate Chief Immelt believes social responsibility will remain vital and argues that in some ways it will become more important than ever—but must be cost-effective and aligned with the needs of businesses. Transparency, accountability, and strategic engagement with government will become increasingly essential and only companies that understand these new rules of engagement will prosper.
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Thinking Outside the Square of CSR
SeekingMed!a 01 September 2008
Organisations are increasingly introducing social responsibility programs into their workplaces. However, we're asking the questions; Is it to make them look better to the community, or because these companies feel a sense of responsibility? Is it because companies want to contribute to the environment, or the social impact of society? We've found that more often than not, it's a combination of all the above. However, one common denominator with ALL organisations; is they use CSR to gain a competitive advantage in their marketplace.
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Deepening financial crisis should not derail corporate social responsibility
Andrew Wilson: Kyiv Post 15 October 2008
In order to survive an economic downturn Wilson argues that corporations will need to sustain their efforts to ensure social responsibility. These efforts must include a commitment to good governance and financial transparency, a commitment to protect and educate their work forces, a commitment to protect the environment, and a commitment to strengthen the communities in which they work.
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Global Financial Woes May Impact Corporate Social Responsibility In China
China CSR.com: Editors Viewpoints 15 October 2008
There has always been tension in the boardrooms of Western companies over the need to drive profits versus getting involved in activities that don't have immediate bottom line results. But in China, the drive for a "Harmonious Society" has strengthened the link between profits and societal good; a multinational company's environmental impact, manufacturing processes and human resource practices are all subject to scrutiny by media and consumers.
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Turbulent Times: CSR Now needed more than ever before
Michael Hopkins, Julian Roche and Ivor Hopkins: MHC International Ltd Corporate and Social Resource
Monthly Feature October 2008
Financial storms in the US and UK will have implications for all of us. Main Street and Wall Street cannot be separated. If the captains of those financial companies, now in crisis or bankrupted, had acted more responsibly with a proper Corporate Social Responsibility strategy then their vessels would not have sunk nor would they be on the brink of foundering. Responsible business will be the new mantra. Indeed, we go further, and suggest that the demise of investment banks in their present form would be the best news possible for CSR!
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Corporate social responsibility in a recession, 10 reasons to keep doing it...
Blog Toby Webb: Ethical Corporation 24 October 2008
While many corporate executives are worried, rightly, about their budgets for next year, there are many good reasons for continuing efficient responsible business initiatives in 2009.
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Corporate Social Responsibility Make Way for Corporate Social Opportunity
Will Marré: NewsReleaseWire.com 03 November 2008
Corporate Social Responsibility is rapidly transforming into Corporate Social Opportunity, according to Will Marré, CEO of REALeadership Alliance and CSR advocate.
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Despite Economic Crisis, Consumers Value Brands' Commitment to Social Purpose, Global Study Finds
Press Release: PRNewswire via COMTEX 17 November 2008
Despite the downturn, across the globe people's sense of commitment to helping others -- and to brands and companies that share that commitment -- remains strong. Market Research.
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Corporate Social Engagement must be part of core business strategy
Exchange Morning Post: 29 September 2008
Even in times of crisis, companies should continue to be engaged in society. A global company that is built to last should consider its contributions to society and not just to its shareholders. To be sustainable, a corporation must engage in society in a way that aligns with its core business strategy.
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