19 Oct 2021
Learn how corporate social responsibility (CSR) drives profitability, boosts your business’s bottom line, and creates shared value with practical insights and real-world examples.
Catalyser
Have you ever thought something along the lines of “I want to engage in corporate social responsibility, but it’s a cost to the business with an uncertain ROI”? You’re not alone. Many business owners and HR leaders are hesitant to adopt corporate social responsibility (CSR) practices due to the misconception that CSR is a cost center that doesn’t offer a valuable return on investment (ROI) for businesses.
In actual fact, the opposite is true. CSR is widely considered to be a cost-effective means of boosting your business’ bottom line. As we’ll explore in this article, research shows that CSR and profitability go hand in hand. Just take it from William Clay Ford, Jr., the Executive Chairman and Chairman of the Board of Ford Motor Company, who said:
“Creating a strong business and building a better world are not conflicting goals – they are both essential ingredients for long-term success.”
As we’ll explore in this article, research shows that CSR and profitability go hand in hand. If you’re interested to learn more about how CSR can help to boost your bottom line, this short explainer on CSR and profitability is a must-read.
It seems almost too good to be true that your company can do good and boost its bottom line. However, this isn’t just conjecture. There is a mountain of evidence in the form of case studies and research that demonstrates the strong value CSR can provide your bottom line.
If you’re after a comprehensive overview, we recommend giving Peter Baines’ book, Doing Good By Doing Good: Why Creating Shared Value is the Key to Powering Business Growth and Innovation, a read.
In his book, Baines presents several case studies that demonstrate the tangible impact that CSR can have on your bottom line. He explores how the companies are simultaneously creating shared value in meeting the challenges of society and bringing in strong economic returns.
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Discover effective ways to increase the visibility of your CSR initiatives with these actionable tips. Learn how to optimise content, enhance employee participation, and boost engagement for your social impact programs.
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