CSR is the way to go!
November 20th, 2011
CSR has been a phenomenon and a social movement that has caught traction in the last few years, yet the question plaguing business student around the world is, “who cares!?” This is the fundamental question behind whether or not a corporation or an individual should take the time and initiative to give back to society. And while this is a topic that could have be widely debated as recently as 5 years ago, now there are concrete reasons, self serving and otherwise, as to why students around Canada should make CSR and corporate ethics a priority in their daily practices.
The Superficial
Many consumer markets in contemporary society are segmented and saturated to the point where it is virtually impossible to gain a competitive advantage based solely on a products quality or merit. The most defining aspect of any good is the brand equity associated with the name imprinted on it. Apple’s iSeries of good are not popular because they are the best ones out there, but rather that, as a company, they have reached a level of equity in their brand that they have an almost cult-like following. And one of the most popular ways for a brand to gain this equity in the consumer market is through the establishment of CSR principles in its corporate mandate. In an astonishing change in consumer behavior, people are actually willing to pay more for products from a socially responsible company; and thus companies are willing to pay more for employees who will exude these principles. Student should adopt a CSR related mindset for the simple reason that it gives them an advantage in the competitive job market, improving their chances of achieving their ultimate goal; getting hired.
The Deeper Reason
However beyond the superficial, there is a much deeper motivational factor that should drive our generation to subscribe to this point of view, and it can be summed up in one word; sustainability. While the baby boomers are able to rationalize their actions with the reasoning that they will never face the consequences, we are not afforded the same luxury. It is undoubted true that the effects of environmental degradation will be tangibly visible within our lifetime, and will pose a serious threat to our contemporary lifestyles. In order to maintain the lives we are so accustomed to living, we must realize that there must be a fundamental change in the way that we, as a society, go about our day to day lives. In order to continue to grow and advance at the unbelievable pace we currently are, we must prioritize the principles of CSR over the many others we hold in high regard.
Whichever reasoning you subscribe to, the message is clear; CSR is the way to go!
Written by: Jawad Shujaatali
