CSR Strategies (PDF)

Globalization has changed the nature of many markets. Previously
protected local industries have been forced to become more
competitive, a situation that provides both opportunities and
challenges. Key among these is the challenge of implementing
responsible business practices. Corporate social responsibility
(CSR) is widely recognized as a worthy commitment to ensure
sustainable benefit for both corporations and communities. CSR is
also becoming an important base for businesses to build trust and
confidence in their stakeholders, with the potential to provide a
competitive edge.

To ensure sustainable growth opportunities, companies should
pursue the three key dimensional values of creation:

* Profit

* People

* Planet

Well defined and strategic CSR activities will ensure an optimum
balance between social, environmental, and economic factors for
sustainable profits. Hence, CSR has to be embedded within the
business strategy to provide a competitive edge in the areas of
brand equity, corporate reputation, employee retention, and
environmental conservation.

Although the principles of CSR are essentially the same
globally, each location still calls for different emphasis in the
implementation process. Successful application of CSR principles is
directly influenced by the business understanding of its business
strategy in proportion to the needs of the local community.

As someone who has implemented all the above activities
successfully, author Sri Urip is well placed to discuss effective
CSR strategies to 21st century companies.