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How Your Startup Can Benefit From CSR - Business - Nairaland

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How Your Startup Can Benefit From CSR by bakingsoda: 10:26pm On Jun 21, 2016
Corporate Social Responsibility (CSR), or Corporate Social Performance (CSF), or Corporate Citizenship (CC) are all synonyms. Maybe it sounds like a culture of the blue chips, but really, the size of your startup should not hinder your participation in CSR. It is all about giving back to the society, getting involved with the community within which you operate. And in a world where image is everything, CSR provides you with the opportunity to build a solid one. If boosting the strength of your brand is a goal, you definitely will want to invest in CSR.

Experts have argued that while a clear cut relationship between profitability and CSR may be difficult to establish, it has not been found to be of any detriment to your business. In fact in a study by Economist Intelligence Unit (EIU) published in 2008 under the title; ‘Corporate Citizenship: Profiting from a Sustainable Business,’ it was reported that Corporate Citizenship is important for the long term health of companies. If you intend to be in business for the long haul, you had better started giving back to the society.

The impact of CSR is determined largely by what is accomplished and how it is accomplished. So, what system really works?

Plan from the start
Decide to participate in CSR from the start of the year. Your plans should include, albeit in sketchy details, what you want to achieve and how you intend to achieve it. You can refine this as the year unveils. Planning also means you will need to include CSR in your budget. And you should know that every penny spent on this is well spent. In fact, if you are in need of some image laundering, your best bet is CSR. It is how you connect with the community within which you operate.

Keep it simple
You do not have to go bankrupt to roll out a rewarding CSR. In fact, it is the simple and consistent things that count. If you want your brand to always pop up in everyday conversation, you will need to plan your CSR, such that, though simple, it is consistent. This might mean a day of tree planting, where your employees go around the neighborhood investing in the environment. Or you could simply organize some intellectual competition and reward the promising brains and minds in your neighborhood. It can even be a weekend of road walk, where folks can walk off the stress of the week and get rejuvenated for the coming week. It is not how expensive, but rather how creative.

Hype it
Why light a candle if it is going under a cover? You need to publicize this CSR. Call in some favor from a journalist friend. Invite the local newspapers and TVs. Tweet about it. The truth is if you do not blow your trumpet, nobody will. Your publicity should cover the pre-event, event and post-event. Remember image is everything, and this is how you build a solid brand.

How do you give back to your immediate environment as a business? Share your methods with us on Twitter by adding Excellaid to your tweet.

http://www.excellaid.com.ng/blogs/post/how-your-startup-can-benefit-from-csr/

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