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CORPORATE SOCIAL RESPONSABILITY
It
is more about a partnership rather than just signing a cheque, says
Coca-Cola's director of Communications.
| 9 out
of 10 (89%) consumers have purchased a product or service associated
with a charity or cause or collected vouchers for a charity or cause
in the last year. 81% of consumers agree that they are more likely to buy a product or service that is associated with a cause they care about, price and quality being equal. 66% of consumers agree they would switch from one brand to another, price and quality being equal. Regarding financial performance, from three of the four measures of corporate value used in this study it was found that those companies in the sample with a code of ethics had, over the period 1997-2001, out performed a similar sized group who said they did not have a code. More than two-thirds (67%) of community groups and schools in the SouthEast believe that business support is crucial to their organisation, compared to 55% in the UK as a whole. 90% of community groups in the South East believe that large companies should take responsibility for solving social problems. 57% believe that business support has been of significant financial value, whether or not the support id financial or of another nature, for example gifts in kind or mentoring. 78% of community groups in the SouthEast believe that companies do not generally pay enough attention to the value that social and environmental initiatives can add to their businesses. For more: Business in the Community Web site Giving Campaign Web site Sign up for our free weekly newsletter Comment on this story on the forum |
Corporate Social Responsibility is a rapidly expanding phenomenon. Companies are now keen to publicise their involvement with local communities as well as their social and environmental policies. But figures show that business support to charities is not that generous: in 2001 it contributed to 4.9% of charities total income while individuals are contributing with 19.7%. In the other side, it is difficult
for businesses to measure results from CSR activities. Coca-cola,
for example, simply can't measure the return to its investments
in programmes in Hammersmith, where its office is based. Hammersmith
and Fulham Chamber of Commerce hosted last week an event on Corporate
Social Responsibility for local businesses. The speaker, Coca-cola's
director of Communications, Martin Norris, said that CSR is a
driver of corporate reputation, but what is on the table now is
much more of an active partnership, where both sides can "ad
value to each other", rather than simply signing a cheque. Very well, a global company can
afford it. But how can small local businesses put CSR into practise?
The main question of the event remains unanswered. Hammersmith
and Fulham Chamber of Commerce is planning to work together with
local businesses by helping them on setting up CSR schemes. In
the meantime, small and medium businesses can follow the links
bellow for some tips and advice. Gifts of equipment or trading
stock to charity: Businesses who give to charity an item manufactured
or sold in the course of your trade, or machinery or plant used
in the course of your trade, can get tax relief. Payroll Giving: It is a
flexible scheme that enables employees to make charitable donations
straight from their gross salary. This means that they receive
immediate tax relief on the value of their donation. Therefore,
for a basic rate taxpayer wanting to give a £10 donation,
it will only cost £7.80, or just £6 for higher rate
taxpayers. As an extra incentive, the Government adds 10% to every
donation made in this way, so a £10 gift becomes £11
for the charity - almost double what it costs you. |