Being 'good' is good businessThe increasing relevance of corporate social responsibility |
Just a few decades ago, everyone agreed: The 'business' of business is maximum profit and relentless growth. Today, most companies would change those modifiers (at least in their press releases), perhaps to ethical profits and organic growth. In other words, the idea of Corporate Social Responsibility (CSR) has taken hold; in fact, 25 percent of the Fortune 500 now publish annual CSR reports.
Not to be confused with corporate philanthropy, CSR is a true operational strategy – one that defines a company’s position toward the environment, human rights and the dignity of labour, and corporate governance. Like any other operational strategy, CSR should be justified with a business case, and then monitored for performance and return on investment.
Investors want to know which companies are protecting the environment, conducting business to enhance the lives of those they touch, and contributing to the economic prosperity not just of stockholders but of the wider community? Surveys are also showing that consumers are increasingly considering a company's 'good' behaviour in their buying decisions. Not surprisingly, companies have been taking notice.
Read the full article attached below.
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Being 'good' is good business (PDF, 99KB)
Deloitte US article
