Corporate Social Responsibility and branding
Corporate Social Responsibility (CSR) is no longer an initiative exclusive to a department located in a remote corner of the organization. It has company-wide ramifications with key branding implications. CRS is no longer about spending a part of profit to get favours in the annual account settlements with the government departments. Companies now need to reinforce their image among various communities as socially responsible and environmentally sustainable. They have to profess and adopt a culture of global citizenship. Therefore, it is a key topic in boardroom discussions, a part of marketing objectives and, of course, a concern to be addressed in brand management.
Adopting the culture of ‘giving more’, the brand savvy companies have started believing in the triple bottom line of profits, planet and people, where all Ps get an equal emphasis. This involves the far-reaching ambit of aligning the corporate vision with corporate responsibility. Brand consultants have also added CSR as part of the portfolio of their services. However, it is of extreme importance that companies first delineate their precise and measurable objectives and take incremental steps in implementing the CSR plan.