100 Great Business Ideas: From Leading Companies Around the World (100 Great Ideas)

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100 GREAT BUSINESS IDEAS • 81

In addition to persuading society of your ethical credentials, CSR
can build your reputation for integrity and best practice. It is
also a powerful tool to ensure employees have a strong personal
commitment to your organization, as well as providing a competitive
edge when recruiting new workers in a competitive job market. In
this way, you can attract the best workers to maintain your corporate
ethics in the future. However, CSR is not a quick fi x: fi rms should
not do it for narrow commercial gain, they should do it because they
believe in it, and in the end we all benefi t.


In practice



  • Make the most of your CSR initiatives by surrounding them
    with publicity—emphasize your credentials and the depth of
    your approach.

  • If you are unable to make large and grand gestures in the
    name of CSR, remember that even small initiatives can still be
    surprisingly valuable.

  • Conduct market research to understand the ethical issues that
    are most signifi cant.

  • Carry out general research of your industry and location—remain
    in touch with the concerns of governments, local citizens, and
    the current social climate.

  • Subject your business to a thorough, in-depth analysis. It may be
    possible that you are causing harm to society without intending
    to do so (or even realizing that you are).

  • Be aware of cultural differences. What some societies consider
    to be an ethical practice, other cultures may fi nd questionable.

  • Above all, practice what you preach. If your organization talks
    about being socially responsible, it is essential to follow through.

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