Does Expending Resources on CSR and Sustainability Destroy Economic Value? « ... - 0 views
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CSR resources sustainability value company
shared by Daniel Benoni on 17 Sep 11
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Corporate Social Responsibility isn’t about giving money away and adopting the latest cause of activists. CSR and sustainability are approaches to business operation and execution that build employee engagement, improve environmental performance, create positive social impact, enable operational efficiency, reduce cost, foster innovation, strengthen relationships with customers and consumers and ultimately…create business advantage.
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Dave Stangis, VP for Corporate Responsibility with Campbell Soup Company responding to University of Michigan Professor Aneel Karnani’s infamous editorial in The Wall Street Journal, “The Case Against Corporate Social Responsibility.”
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Is it the misperception that CSR is a cost, a tagged on responsibility, and therefore, unnecessary for companies? Or that CSR is completely estranged from the notions of capitalism as Professor Karnani believes — and is, in fact, the wrong argument?
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When properly and strategically implemented, CSR does not lose money, it makes money. Over the long term, it is a viable business strategy that focusses on long-term sustainable impacts (including profitability). Arguing against reducing energy, water and waste costs, along with fines, meeting onerous regulatory standards imposed due to improper actions, etc. is as foolish and short-sighted as arguing against oil changes for your car (it costs money) or the installation of safety devices that protect consumers (such as safety belts and airbags) because they increase the cost of the vehicle.