CSR Guidelines for the Financial Sector - page 37

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What is aCSR Strategy?
CSR activities are an investment. And like any investment, organizations should expect return from their CSR activities
– be it as it may that such return is in the form of enhanced brand image, increased community involvement,
stakeholder engagement, bottom line value, or any other number of benefits that CSR generates.
When asking financial institutions what they see is the value of CSR, the results were as follows:
What do youbelieve is the value of CSR?
While ad-hoc or philanthropic CSR activities can generate a return, the impact of these investments is typically short
lived andmay not be alignedwith the objectives or vision of the organization. As such, these investments are not
necessarily the best allocation of the organization’s resources.
The value of having an effective, well-founded and consistent CSR strategy ismultiple folds. Some of such value is:
- Ensure consistency throughout the organization on theCSRmessage to be communicated
- Ensure consistency in the implementation of CSR practices
- IntegratingCSR related decisions throughout the organization and ensuring that it is not an add on component to
the operations
- Aligning internal and external CSR practices with the organizations CSR philosophy
- Identifying the issues that are of material value to the organization for CSR initiatives that would generate value to
the organization andminimize ad hoc investment towards CSR, philanthropic or charitable initiatives
- Create a streamline for reporting, monitoring and evaluating theCSR initiatives to ensure accountability and
transparency for CSR investments
-Working towards a sustainable and long termCSR investments that add both tangible and intangible values
Advantages
• Increase the organization’smarket share by increasing consumers’ loyalty and strengthening its engagement with
them.
•Gain a competitive advantage over competitors within the areas/countries of operation by positioning and
strengthening the organization’s reputation as a socially responsible organization.
•Gain a longtimemarketing value bymeetingmarket needs and fulfilling stakeholder expectations. In other words,
throughCSR the value of activities and initiatives is retained for a longer period and not just for the period of the
campaign.
Other
loyal customers, Employees
Good publicity
Marketing Exposure
financial returns
23%
64%
48%
40%
24%
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