CSR Guidelines for the Financial Sector - page 16

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There are varying degrees of commitment toCSR.
Traditionally organizations prime focus is to do business.With the increased hype of CSR, organizations started to
undertake certainCSR related activities whereby they undertake responsible activities independent of their business
operations, their impact on society and how they affect society or can be affected by society at large.
Good example isQatar Financial Authority were its CSR activities are relatedwith the financial know-how of society.
Their CSR activities are increasing awareness with respect to financing and investment ensuring better caliber
professionals andmore conscious investors.
This evolved into amore integrated approach of CSR in organizations whereby organizations started to dowhat they
do but doing it in amore responsiblemanner i.e. embedding societal considerations in their decisionmaking
process etc. A higher evolution finally led organizations to doing responsible things in a responsiblemanner a closer
definition towhat we now call today “sustainability”. Its no longer simply amatter of doing good things to society, or
operating ones organization in a responsiblemanner but a further step of integratingCSRwith the organization’s
objectives, creating a ‘virtuous circle’ for all the stakeholders. This is a highly sustainablemodel as the success of the
business is integratedwith theCSR initiatives and there is high commitment from the business at all levels.
This can be reflected in the below diagramwhereby through a traditional approach businessesmoved from just
doing business to doing responsible things while doing business. Through a shift towards responsibility,
organizations considered doing things responsibly and finally evolved into doing responsible things responsible.
Without a commitment toCSR from the leaders within organizations it is difficult to instill and succeedwithCSR.
Therefore, inmoving forward, it is important to ascertain theCSR commitment of an organization.
Traditional Method
Doing
Responsible
Things
Doing
Responsible Things
Responsibly
Doing
Business
Doing
Things
Responsibly
CSR Activities
Traditional
Activities
ResponsibleMethod
1...,6,7,8,9,10,11,12,13,14,15 17,18,19,20,21,22,23,24,25,26,...87
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