CSR

CSR means we need to protect the environment, hiring practices, provision of safe work environment, health concerns and so forth.


Kramer and Kania (2006) have outlined four points to consider when designing a corporate social responsibility programme that can establish competitive advantage. The guide includes:

1. Identify an issue that is crucial, current and strongly influences the firm’s core competencies. Such issue will get the firm to be noticed and eventually boost the firm’s reputation.
2. Mere identification of a social issue to address is not sufficient. The firm must set quantifiable goals and constantly monitor progress of its effort. Subsequently, progress report must be made known to all stakeholders.
3. The firm must position its key resources to facilitate and support the social responsibility programme designed.
4. The firm is also encouraged to establish cross sector partnership with other organisations that can support and contribute based on their expertise.