Corporate social responsibility (CSR) is crucial to increasing a business’ competitive advantage, safeguarding the brand and raising awareness, whilst building trust with stakeholders, employees and of course, customers. However, maintaining a level of trust amongst these parties takes investment and cohesion across the business in order to sustain it.
For long-term success, companies require forward thinking. Cease confronting the petty everyday challenges and focus on what will be the issues of tomorrow. This isn’t just acknowledging the wants of customers but wider social and environmental issues.
But what is CSR? Corporate Social Responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. Which basically means companies committing to behaving ethically and contributing positively to society at large, whilst still addressing their economic development.
Here at Big Cat, our background working with the third sector and corporate clients provides us with key insight into the importance of CSR and proper execution. We know that the CSR initiative is for more than just for large corporations, it’s required practice for business across the board.
As Crowdfund Insider reports, crowdfunding can be used as a tool by large companies and start-up entrepreneurs alike. There is a global push towards CSR and creating shared value, which has been embraced by many companies such as Cisco, Nestle and Intel (to name a few), who actually integrate their CSR into everyday decision-making. However, there remains an opportunity for companies to create a platform where brands can interact with customers, donors, charities, and their community.
For instance, simple widgets and plug-ins can allow companies to integrate a crowdfunding campaign, such as raising £1million for a charitable initiative, within their website, social media pages and the websites of their partner charities. As well as hosting a campaign on their platform, a company could choose to match donations.
Such practices not only achieve the main goal of aiding the wider society and supporting a worthwhile cause but also benefit the companies’ economic interest, by acting as a marketing tool, displaying the companies’ corporate initiatives whilst amplifying the effect of donations.
However, as the old saying goes, ‘two heads are better than one’ and this is never more relevant than in the context of CSR. Recently, to mark the beginning of National Volunteer’s Week, Team London partnered with DO-it.org to launch a new speed-volunteering platform, as reported by Charity Digital News.
The new site, to be launched in the autumn, will offer ‘speed’ volunteering opportunities enabling younger people to volunteer quickly and easily for up to 6 hours, finding out about these opportunities via social media. Small organisations will be able to set up online communities of volunteers, who will be able to comment on and recommend opportunities to their friends via Facebook.
In fact, Big Cat are currently setting the cogs in motion for a partnership between two of our most forward thinking clients – a not-for-profit and a large corporate. The union presents fantastic CSR opportunities and a whole new platform for fundraising, which will be guided by our consultancy – but that’s all we can let on for now!
So if you would like to know more about CSR, how it can benefit your business and help you to help others or if you have a CSR project you think we could help with, get in touch.
Posted by: LucyBigCat on