PRMR Inc. Blogs

Corporate Social Responsibility or CSR is related to the discretionary activities a company engages in that contributes positively to society. From the outset let’s make a distinction between CSR and philanthropy. Philanthropy involves gifts that are given occasionally by companies and wealthy individuals. CSR is more sustainable. Just as a company can be socially irresponsible, which takes many forms such as illegal dumping, discrimination due to sex or race, etc., it can also be socially responsible by paying fair wages, contributing to environmental protection, promoting health and wellness, and such like. 

In times of crisis, top executives try to find solutions to problems considered outside the purview of their daily operations. Suddenly they need someone to help explain who they are, their philosophy and cast them in the best possible light in an effort to stay in business. 

The year 2018 has brought with it all the uncertainties and expectations of a New Year wrapped in a bow of fireworks.  For Barbados and Barbadians, the beginning of this year spells even more uncertainty as there is a pending general elections , the outcome of which will determine how the country is managed for the next five years or so. 

Reflecting on the devastation that struck the Caribbean, Mexico and Florida over the past months, especially the catastrophic hurricanes that damaged our neighbouring islands, it is safe to say that Barbados has a lot for which to be thankful.

At PRMR Inc., we love Corporate Social Responsibility (CSR). And, there are many reasons why you should too.

So, by now you get it that looking out for your employees and the community is good for business.  But, what about the environment?  Being environmentally conscious is also good for business. 
 

The value that Corporate Social Responsibility (CSR) initiatives have on an internal organisational culture is most times overlooked.  Often, so much emphasis is placed on what’s happening on the outside of an organisation that many companies neglect to turn their CSR focus inwards, as well.

It is a myth that a company should not promote its sustainability initiatives.

If you equate Corporate Social Responsibility (CSR) to altruistic giving, then perhaps promoting your actions would seem self-centered. However, if your Corporate Social Responsibility initiatives are strategic as well as enshrined in and support the organization’s objectives, then you would immediately understand the benefits of telling your company’s CSR story.