Inspiration - Companies
Corporate social responsibility includes six types of corporate social initiatives:
- Corporate philanthropy: company donations to charity, including cash, goods, and services, sometimes via a corporate foundation
- Community volunteering: company-organized volunteer activities, sometimes while an employee receives pay for pro-bono work on behalf of a non-profit organization
- Socially-responsible business practices: ethically produced products that appeal to a customer segment
- Cause promotions and activism, company-funded advocacy campaigns
- Cause-related marketing: donations to charity based on product sales
- Corporate social marketing: company-funded behavior-change campaigns
All six of the corporate initiatives are forms of corporate citizenship. However, only some of these CSR activities rise to the level of cause maketing, defined as "a type of corporate social responsibility in which a company's promotional campaign has the dual purpose of increasing profitability while bettering society.
Companies generally do not have a profit motive when participating in corporate philanthropy and community volunteering. On the other hand, the remaining corporate social initiatives can be examples of cause marketing, in which there is both a societal interest and profit motive.
People, Planet and Profit – the triple bottom line
While CSR benefits are hard to quantify, research shows a correlation between social/environmental ...
Attract the right talent
A CSR program can be an aid to recruitment and retention of employees. Particularly within the ...
CSR as a business positioning tool
Companies operating strong CSR activities tend to drive customers’ attention to buy products or ...