Page 88 - 100 Great Business Ideas: From Leading Companies Around the World (100 Great Ideas)

In addition to persuading society of your ethical credentials, CSR
can build your reputation for integrity and best practice. It is
also a powerful tool to ensure employees have a strong personal
commitment to your organization, as well as providing a competitive
edge when recruiting new workers in a competitive job market. In
this way, you can attract the best workers to maintain your corporate
ethics in the future. However, CSR is not a quick fix: firms should
not do it for narrow commercial gain, they should do it because they
believe in it, and in the end we all benefit.

In practice

• Make the most of your CSR initiatives by surrounding them

with publicity—emphasize your credentials and the depth of
your approach.

• If you are unable to make large and grand gestures in the

name of CSR, remember that even small initiatives can still be
surprisingly valuable.

• Conduct market research to understand the ethical issues that

are most significant.

• Carry out general research of your industry and location—remain

in touch with the concerns of governments, local citizens, and
the current social climate.

• Subject your business to a thorough, in-depth analysis. It may be

possible that you are causing harm to society without intending
to do so (or even realizing that you are).

• Be aware of cultural differences. What some societies consider

to be an ethical practice, other cultures may find questionable.

• Above all, practice what you preach. If your organization talks

about being socially responsible, it is essential to follow through.

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