May 11, 2008

Don’t Let The Economy Shut Down Your CSR Initiatives

CRO has compiled a list of ways companies can stay responsible during an economic slowdown:

• Make corporate responsibility initiatives a bigger priority with more resources and it will be difficult for them to fade away.
• Prioritize the initiatives that can be completed with the lowest cost and the least risk.
• Collaborate on CSR projects with other departments and share the costs.
• With the battle for customers becoming more fierce, a downturn is the time to ramp up your investment in CR efforts and spend money on PR and marketing since you might be able to get a better deal from vendors.
• Be trend-conscious and keep a close eye on your competitors CSR moves, as well as where federal, state and municipal policy and regulations are are headed.
• Remember, what goes down must go up, if companies do their corporate responsibility homework and keep integrating sustainability as a way of doing business, their efforts should pay off.

Read the complete list here.

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