Globalization offers opportunities, but it also presents challenges that could impose limits on growth and profits if they are not considered and properly addressed.
Challenges include tariffs, environmental restrictions, local laws, labor laws, human rights violations, cultural values, and public perception of how you respond. Empowered by the Internet; consumers no longer get their information about "Corporate Citizenship" exclusively from corporate sources.
In the face of additional scrutiny from governments, nongovernmental organizations, and investors; attention to Corporate Social Responsibility is on the increase.
Regardless of your industry or the size of your enterprise, serious attention must be given to managing the social value of your brand.
More brands are being exposed to consumers in markets that were once prohibited by time, distance, money, and culture. Enterprise face additional risk from links within their supply chain.
Proactive brand management is not just for large multinationals. Educational institutions competing for students; organizations and associations competing for members and donors; cities competing for tourists, knowledge workers, new business, and investors; even micro-enterprise involving lawyers, accountants, insurance agents, financial advisers, and engineers need to be concern. In an increasingly crowded market place; having a quality image may help to increase market share and even afford you premium pricing.
A well developed and executed Corporate Social Responsibility strategy is necessary for attracting and retaining the right people; accessing some types of financing; protecting your reputation; customer loyalty; reducing risk associated with operations of the enterprise. An increase in enterprise value based on the likelihood of generating more income now and into the future is another benefit of success.
Getting Corporate Social Responsibility wrong can be expensive. Being implicated in a scandal, an enterprise may have its reputation and brand image tarnish or even ruined. There is also the risk of potential consumer boycott. Direct costs may include increase security expense, insurance expense, and potentially expensive lawsuits.
Our consultants shall work with your enterprise and help identify risk, and opportunities; define your policy and strategy; develop related educational, marketing, charitable, and philanthropic campaigns.
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