Finance

Webinar: Doing well by doing good

March 31, 2015

How can CSR be profitable? Align your business strategy with CSR, says Assistant Professor of Business and Society Management Yijing Wang during a webinar at April 9.

Image: © Nationale Beeldbank

What are companies doing wrong as it comes to CSR?
Nowadays, tremendous societal and environmental pressures have pushed Corporate Social Responsibility (CSR) to the forefront. As a consequence, companies, for instance, have initiatives to reduce waste or to become a philanthropist. However, most of the times, it’s not really clear what is the real tradeoff between CSR and the financial value for an organization. CSR is not adopted in the strategic view of the company. Rather, it becomes a cost, not a profit. The webinar is about how to do well by doing good. In other words, how to turn CSR into a financial capital within different contexts

Why would companies change their tactics?
In certain industries, such as the resource-intensive industries, it has become a trend that if companies don’t commit to any CSR initiatives, they may lose their playground. Customers are asking for these commitments, so are other stakeholders. However, if you don’t do it properly, they will eat up your profits easily.

Can CSR be profitable?
The answer is affirmative. An example is Marks&Spencer. Since 2007, they decided that they want to be one of the most responsible retailers worldwide, and has committed to a variety of CSR initiatives since then. Because its sustainable strategy is very closely linked to its core value, it results in a £185 million in net benefits, according to its CEO Marc Bolland.. In addition, it is ranked as the 16th in the Fortune’s Most Sustainable Companies 2015.

Does your company want to do well by doing good? Watch the webinar on April 9 at 12h.

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