Corporate Social Responsibility (CSR) is increasingly viewed as a topic of strategic importance. The vast majority of Fortune 1000 companies now engage in social and environmental responsibility activities, and CSR spending has reached unprecedented levels. For example, in 2010, Walmart gave more than $340 million in cash to charity, and Alcoa gave away 6.2 …
Marketings purpose is to demonstrate value and provide differentiation. Judged by that criteria, cause marketing isnt any more useful a tool than coupons. In fact, it could actually be worse. That is, in some cases, cause marketing can actually do more harm than good–the opposite of corporate social responsibility–eliminating all justification for the practice. …
A McKinsey survey showed that 76 percent of executives believe corporate social responsibility is critical to long-term share price and 55 percent report that it can boost a firm’s reputation. CSR also allows firms to differentiate themselves against competitors, which is an important competitive factor for brand firms. This means that CSR is good for …
Adam Smith, the great Scottish economist and philosopher, famously described market forces as “an invisible hand” that seemed to drive businesses to deliver what society needs. The financial crash of 2008 highlighted that modern business, with its global scale and complexity, is less reliable than Smith’s 18th Century capitalism; sometimes the invisible hand can do …
Video Blog
