FOCUS FEATURE


CORPORATE SOCIAL RESPONSIBILITY


More and more businesses are engaging with CSR


Organisations simply going along with CSR for the ride


because it’s the “done thing” can quickly be exposed by stakeholders and customers who, ultimately, will likely retain a sense of scepticism regarding acts of CSR in many cases – after all, for the majority, results and profits remain king. Therefore if CSR is simply a means to an end, there’s an


argument to suggest refraining altogether from such activity may reflect better on a business and offer a degree of sincerity that may be lacking if they do CSR badly; CSR done badly risks alienating a business from both its stakeholders and its wider customer base for different reasons. Another potential pitfall of CSR is, some argue, placing


too much emphasis on it – either by way of being seen to be as conscious if not more so of social responsibility than competitors – or even through a genuinely well-meaning desire to do good and exert positive influence where possible. However, whereas large companies have the resources to


hire CSR executives and cover for employees taking part in CSR-related activities, smaller companies still need to manage their resources – both in terms of capital and staff time – proportionally; something Matthew Lynn points out in an article for The Telegraph where he states: “CSR has become a racket – and a dangerous one. It allows companies to parade their virtue, and look good, while internal standards are allowed to slip. In fact, the social responsibility of companies is very simple – to make good products, to honour their contracts and to pay their staff and suppliers on time. Everything else is just a smokescreen”. Yet for all the caveats, CSR – when done well – can


provide a virtuous circle that is a force for good, benefiting both business and society. In an interview for this magazine last year, David


Williams, Chairman of Chamber Patron and leading law firm Geldards, was both enthusiastic and positive about the effect CSR can have on businesses and the environment they operate in. He said: “We want to make the business environment


better, because that’s ultimately good for Geldards. There are lots of virtuous circles there and I think it’s really enriching. “If we can improve our environment we can improve our


business. My mantra about CSR is to do good, look good and feel good. Essentially, if we do good it makes us look good, which also make us feel good, so the firm feels better. We’ve done some great stuff for people outside the firm, nobody’s losing and everyone is winning and I think that improves all of our skills as well.” Dr Nik Kotecha, Chief Executive at Chamber Strategic


Partner Morningside Pharmaceuticals, builds on this idea of a virtuous circle, telling Business Network: “CSR activity gives us great kudos because people see what we do as a business through our CSR activity. For example, if we’re looking to export into Iraq, they already see our presence there through supplying medicines to UNICEF of Red Cross. They know these organisations are very stringent when it comes to quality, so that in itself is makes it much easier for us to do private sector business… we’ve built relationships over 20 years and these organisations trust us to supply high quality medicines, on time”. So the sense here is that if CSR is genuinely embraced


52 business network July/August 2018


‘All in all, the appetite for CSR – and the lengths at which businesses are going to get meaningfully involved – appears to be growing’


by business in an authentic, genuine way, then it is very much possible for CSR and business success to go hand-in- hand. From a purely business perspective, CSR can offer a multitude of positive results including, but not limited to: enhanced brand recognition and reputation; increased sales and loyalty; greater ability to attract talent and retain staff and, ultimately, organisational growth. So where is CSR going moving forward and what can


businesses do to ensure they’re getting involved as effectively as possible? Certainly advances in technology and the prevalence of


social media means that consumers across the globe are more switched on and knowledgeable – and consequently more engaged – than ever before when it comes to the choices they make and the organisations they associate with. To that end, Investopedia, a leading source of financial


content, argues that trends such as increased transparency; investment in green technologies; local community and employee engagement and recognition of economic inequality will all be prominent moving forward, with many CSR strategies being underpinned by such trends. It’s clear that the businesses that correctly judge the


mood of consumers – sometimes easier than it sounds – and that engage meaningfully with employees and stakeholders in order to deliver authentic and cohesive CSR actions will have the greatest chance of both being a force for good as well as benefiting from these actions at the same time. All in all, the appetite for CSR – and the lengths at which


businesses are going to get meaningfully involved – appears to be growing and that was the overall message which came out of the Chamber’s CSR Summit earlier this year. At the event, ran in partnership with Ryley Wealth


Management, the Chamber’s Director of Policy and External Affairs, Chris Hobson, said: “There’s definitely more work to be done to demonstrate the positive impact CSR can have on both businesses and charities alike, alongside the most effective ways of making the biggest impact. We need to bring together charities and the private sector to understand what works well, where there are opportunities to do more and what role the Chamber and others can play.” One thing which is certain is that, in many cases,


business success is no longer merely based on profit; success is also measured “beyond the bottom line”. In this regard, good, authentic CSR can be a powerful a tool.


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