CSR now about far more than cash donations
While corporate responsibility initiatives are still partly motivated by philanthropy, many large companies now view them as possessing a clear strategic dimension that makes them an increasingly core part of many of their business activities.
Research published in the UK by Deloitte suggests the reasons why large UK companies undertake corporate responsibility activities have evolved in recent years.
“Increasingly, corporate responsibility programmes involve a more sophisticated commercial focus where companies seek to open up new markets, attract the best staff, acquire new customers and develop strategic relationships,” said Deloitte partner Heather Hancock.
The report, “More than just giving”, examined corporate responsibility activities across six sectors within the FTSE 100. It found that programmes are increasingly used to develop relationships with government, suppliers and customers in key markets, as well as to mobilise staff and strengthen corporate culture.