Making the Most of CSR

Viewpoint by Jeff Smith, Partner

Unfortunately, this is not as common a phrase as should be raised in companies across the globe.  While Corporate Social Responsibility (CSR) is noble in its intentions, it is still rarely strategically developed and executed.  Many companies believe that because they do good deeds they will materially impact their reputation and brand.  The reality is that most companies have such a diverse set of programs that they put under the CSR umbrella that they only get a slight impact at a the local level, and rarely get a broader impact on their overall reputation. Programs like, education, homelessness, poverty, and hunger are all important and very much needed around the world.  The challenge for companies is to pick one of these areas, among other benevolent options, and go deeper and get more specific.  It is through a highly focused CSR program that a company can start to accrue points towards enhancing its reputation in the eyes of the consumer.