Publications

Previously viewed primarily as a corporate marketing stunt, Corporate Social Responsibility (CSR) has recently entered the mainstream and is now seen as a vital component of effective corporate governance. CSR can touch on a variety of areas within a companys domain, including areas such as the environment, employee health and safety, and product quality, as well as communitybased initiatives. All of these areas can have either a direct or an indirect impact on the communities in which companies operate and are, therefore, critical issues for todays top management.There are basically 2 types of Corporate Social Responsibility (CSR) programs, internal initiatives and external initiatives. Internal initiatives are focused on internal processes, and primarily result in benefits to employees and others who may be working or living on-site. While they often reduce risk and increase quality of life, they do not typically result in increased brand awareness and favorable impressions in the larger community. External initiatives, however, typically create better brand awareness and relationships in both the local community and the larger community.What type of initiative a company pursues really depends on what the companys strategic goal is. If they are looking at decreasing the company's carbon footprint and avoiding the wrath of industry watchdog groups, or directly benefiting your employees and/or guests, then internal programs can be quite effective. However, the public recognition of internal programs can be very limited. If, however, you are interested in enhancing the public image of the brand, the relationship with the local community and, ideally, embarking on an initiative that furthers the group's strategic objectives, then external initiatives are often more effective.