Category Archives: CSR

Corporate social responsibility (CSR, also called corporate responsibility, corporate citizenship, and responsible business) is a concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders, as well as the environment. This obligation is seen to extend beyond the statutory obligation to comply with legislation and sees organizations voluntarily taking further steps to improve the quality of life for employees and their families as well as for the local community and society at large.
The practice of CSR is subject to much debate and criticism. Proponents argue that there is a strong business case for CSR, in that corporations benefit in multiple ways by operating with a perspective broader and longer than their own immediate, short-term profits. Critics argue that CSR distracts from the fundamental economic role of businesses; others argue that it is nothing more than superficial window-dressing; still others argue that it is an attempt to pre-empt the role of governments as a watchdog over powerful multinational corporations. (From Wikipedia)

July 2, 2008 · 2:59 am

Sustainable Giving

In her blog The Philanthropic Family, Sharon Schneider discusses the merits of Product (RED) and its new music service, as well as the controversy over embedded giving.  You can make your own judgments, but I like embedded giving because it is sustainable and provides a predictable stream of revenue for philanthropies.  If you’re a CFO at a philanthropy, predictable revenue makes life easier.

She also points out the business benefits of Strategic Corporate Philanthropy.  In a nutshell, this refers to a company providing its products/services/expertise to a community non-profit.  This is not only great Corporate Social Responsibility policy, it’s a great marketing tool as well.  It works because non-profits tend to be deeply ingrained into the fabric of their community and often have patrons and board members that may be qualified buyers of their benefactor’s products and services.

The agency I work for recently developed a website to support the activities of a well known non-profit. Providing these services allowed us near-the-top billing as a sponsor for our in-kind donation, generated some great publicity for us and maybe even helped with our name recognition in the right circles.  Not to mention it made us feel great.

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June 27, 2008 · 3:14 pm

Redefining the Gold Standard

 

Joseph Michelli

Joseph Michelli

In his new book The New Gold Standard: 5 Leadership Principles for Creating a Legendary Customer Experience Courtesy of the Ritz-Carlton Hotel Company, Dr. Joseph A. Michelli, Ph.D. discusses the “service value” that sets Ritz-Carlton apart from its competition.

 

In a tanking economy (sorry for being glass half-empty), the near future prospects of super luxury brands like Ritz-Carlton seem to be far from rosy.  But as Michelli points out, the company’s constant quest for excellence has elevated the luxury experience to a true art form.  And there will always be buyers for art.

As I commented at BusinessWeek’s excerpt from the book, Ritz-Carlton approaches Corporate Social Responsibility with the same dedication to excellence they are famous for in their customer service.  This is a rare and wonderful thing indeed.

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