How CSR will shape brands in 2017

All over the world, one of the central issues for brand owners in the new business year is improving on their Corporate Social Responsibility (CSR) in terms of aims and objectives, visibility, reporting, among others. Analysts believe that for companies to make a bold statement in their commitment to corporate social responsibility this year, they must understand and follow the trend. Report has shown that some of the companies operating in Nigeria and across Africa are either completely unaware of the importance of CSR when it comes to their operations in Africa, compared with what is obtainable in other parts of the world. To this end, analysts say that consumers are increasingly interested in the activities of companies. Therefore, any brand that wants to appeal to consumers most does the needful in 2017. Reacting to this issue, a brand and marketing analyst, Samuel Ajayi, told Daily Times, “Corporate social responsibility is more competitive than it was. A few years back, it was enough for public companies to have a fairly comprehensive Corporate Social Responsibility section on their website, with a simple PDF presentation and a few images of how they took into consideration the environment, communities, and their social impact. A vague understanding of social impact is no longer enough to stand out amongst the top public companies with the best CSR reputations. Taking action against climate change, contributing to social justice movements, and standing firm in founding principles are trends in themselves for big companies, and have become not just acceptable, but expected. With more companies understanding the value CSR can bring to both their public image and their stakeholders, it’s getting harder to make a message stand out in a sea of ‘doing good.”

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