100 GREAT BUSINESS IDEAS • 81In 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.