Corporate social responsibility provides competitive advantage in an evolving business environment.

By Tatjana de Kerros

The current economic and social climate in the UAE has put competitiveness, sustainability and responsible business at the top of the agenda. Whilst corporate social responsibility (CSR) practices have been controversially associated with improving brand recognition and enhancing a company’s reputation, this has neglected CSR’s potential of improving efficiency, productivity and market orientation. Rather, having a CSR strategy embedded within a business model not only serves in gaining a competitive advantage by increasing reputational appeal; but responds to changing stakeholder demands in an evolving environment.

The Dubai Chamber and PepsiCo launched the first comprehensive study of CSR and corporate governance in the UAE, finding 42% of respondents believe CSR increases productivity. However, 66% of companies in Dubai cited that a lack of awareness and financial resources prevented them from taking part in CSR initiatives.

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Employees will be valuing CSR credibility more and more.

By Dr. John Izzo

There is growing evidence consumers care about CSR when it comes to whom they buy from and survey evidence suggests employees like to work for companies that are good citizens. As someone who has spent over 20 years advising companies on their brand image and how to create highly engaged workforces, I am often asked by my clients if CSR really matters to employees. Even though surveys show employees rank it as a high factor for choosing an employer, it is almost never cited as the reason people leave companies, nor is it often cited as a prime reason for taking new employment. It raises an interesting and important question: How important is CSR to workers?

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