Corporate Social Responsibility – Orchestrate Your Company’s CSR Initiatives for Maximum Impact
Are you working in a multinational corporation with a branch in Thailand or a leading Thai company in your industry? In which case, your company will have most likely already have engaged in CSR activities or charity events. Are you looking to maximize the benefit of your CSR initiatives? Perhaps you want to ensure that your charity project has a real impact on our society? Three minutes of your time reading this article could change the way you think about CSR.
Global markets have been experiencing increasing turmoil, businesses now face competitors from every corner of the globe, and the new dynamics of social media and electronic communication have radically altered communication. This has made protecting and strengthening one’s brand image both more essential and more complex. In the context of a fast-paced global market and stiff competition, using Corporate Social Responsibility to strengthen one’s brand image has become indispensible.
Making sure that customers think positively about a company and understand its core values is now essential. Businesses are no longer expected to just make money and create jobs, they are also expected to contribute to society in other ways, such as supporting charities, protecting the environment, and respecting human rights. Further, in a market place in which customers have a nearly limitless choice of options for any given product, a strong brand image will help steer customers to a company’s product line-up.
However, Corporate Social Responsibility can be expensive. Many of the elements required to build a successful CSR program fall outside of the skills and knowledge of business professionals. Thus, a good CSR program will require a company’s staff to acquire such skills, or to hire a highly trained and often expensive, CSR specialist. What many companies may not be aware is that there is a third option; sponsoring a non-governmental organization or NGO.
A company can sponsor a specific event or social cause by providing funding for a NGO, who will then attach the company’s brand to a charity event or community program. The NGO already has the knowledge and skill-set to work on social problems and issues, allowing the company to increase its brand image while keeping costs low.
Like most business activities, CSR activities exist in a competitive market. The most innovative CSR initiatives that create the most good for society are rewarded with the most publicity and are the most effective at building brand image. Companies should look for innovative NGOs that generate a lot of good for the community in a unique and newsworthy way.
For example, an innovative way a company can engage in CSR in Thailand and sponsor a local NGO is to collaborate with the Bangkok Charity Orchestra (BCO). BCO, founded by Chulayuth Lochotinan, is the first and only orchestra in Thailand to be committed to raising funds for charity. It puts on live musical performances approximately three times a year and featuring over 60 volunteer musicians in order to raise money for various charity projects in Thailand. Corporations can sponsor BCO to put on a charity concert. BCO will then sell tickets to the public to raise money for a selected charity. BCO guarantees that 100% of the proceeds from ticket sales will go to charities that work within Thailand. Sponsoring BCO costs less than a direct donation to charity foundations, and it maximizes the benefits of CSR for your company while raising more funds through ticket sales.
This is why companies such as Thomson Reuters, the world's leading source of intelligent information for businesses and professionals, sponsored and collaborated with the Bangkok Charity Orchestra on multiple occasions to build a playground facilities for orphan children under care of the Foundation for Children, install IT and library facilities to SOS Children's Villages across Thailand and to help the tsunami victims in Japan.
BCO also brings expertise and local knowledge of local social programs and services, while also providing an excellent platform for a company to promote its image through CSR. Further, because the concert is a public and well-advertised event, positive media public publicity is all but guaranteed.
The end result? A high impact CSR program that benefits the community and the company, as well as contributing to a vibrant Thailand cultural scene, while keeping costs low! Despite the popular impression, not all CSR programs need to be expensive in order to be effective.
Article by: Brian Brinker, CSR Specialist
- how your donation was used?
- where your money ended up?
- who your generosity benefits?
BCO is dedicated to making sure every Baht realises its worth and guarantees its benefit to those who are in need in our society.
BCO ENSURES that the use of donations is:
- beneficial to the need of our society
We MULTIPLY your donation by a factor to increase its value through profit from our charity concerts
AND FOR YOU...
It's a good way to show to the public that YOUR COMPANY CARES!