Basing your good name on good deeds

Reputation managers must recognise the public’s scepticism towards the motives behind CSR

 
Defined broadly as “a commitment to improve societal well-being through discretionary business practices and contributions of corporate resources”, corporate social responsibility (CSR) occupies a prominent place on the global corporate agenda in today’s socially conscious market environment. More than ever, companies are devoting substantial resources to various social initiatives, ranging from community outreach and environmental protection, to socially responsible business practices. To give an example, General Electric is investing billions of dollars in healthcare technologies to reduce medical errors and improve patients’ lives.

C.B. Bhattacharya

C.B. Bhattacharya is E.ON chair professor in corporate responsibility at the European School of Management and Technology in Berlin, and Everett W. Lord distinguished faculty scholar and professor of marketing at Boston University. His expertise is in the area of business strategy innovation aimed at increasing both business and social value, specifically how companies can use underleveraged “intangible assets” such as corporate identity and reputation, membership and brand communities, and corporate social responsibility to strengthen stakeholder relationships.