CSR’s Here to Stay. Don’t Mess it Up.

CSR Stats:

• 40% of a company’s reputation is corporate responsibility  
• “Company mission and values” are the No. 1 reason (33%) new MBAs choose to work for one company over another

Examples of CSR Gone Wrong:

• CVS lost $2 billion/year when the company stopped selling tobacco 
• Campbell Soup reversed the decision to reduce salt in many soups when sales dropped 32%

How to Avoid These Mistakes:

• Weave CSR into the way the company does business
• Ensure the CSR program aligns with the values of your audience/customers
• Consider CSR to be a tool to ensure the company’s long-term success

Areas that Benefit from Authentic CSR:

• Investor Relations – The largest portfolio managers consider ESG information when choosing stock
• Human Resources – CSR grows recruitment, leads to higher levels of productivity and employee retention
• Public Relations – CSR is an offensive and defensive weapon to stay ahead when  a company has been criticized, and generates good news to dilute bad news.

Newsweek | Business Have Been Practicing Social Responsibility For Decades, But Is That Really A Good Thing?