C&W Perspectives

In an increasingly competitive business world, companies seek new ways to differentiate themselves, both as employers and producers. Social responsibility – a personal reflection I n my experience, if done responsibly, this will entail making a difference to employees and their families, to clients and their businesses, and to the communities in which they operate. In recent years, Corporate Social Responsibility (CSR) has become both the label and the direction of travel for this ambition. At a time of year when good will to all men is never more pertinent, I was intrigued to explore how one particular aspect of CSR – contributing to the well-being of the community – manifests itself in business. Modern CSR CSR has been evolved by modern business. It is now seen as a business approach to sustainable development that can deliver economic, social and environmental benefits for all stakeholders. Moreover, CSR today is a very broad concept that addresses numerous topics such as human rights, corporate governance, health and safety, environmental effects, working conditions and contribution to economic development. There’s no such thing as a new idea … However, CSR is not new. Only 25 miles from C&W’s Edinburgh office at the New Lanark UNESCO World Heritage Site, exists a mill town where the philanthropist and utopian idealist Robert Owen created a model industrial community in the early 19th century. In the words of UNESCO: “New Lanark is a unique reminder that the creation of wealth does not automatically imply the degradation of its producers.” While the community focus these days is broader than just the “producers”, the concept of businesses being able to share wealth to the betterment of others, while continuing to thrive, still underpins CSR today. Are we becoming more charitable? Ever increasing prominence – particularly through social media – makes it feel as though corporate charitable activity is on the rise. However, recent research by the Charities Aid Foundation indicates that donations by FTSE 100 companies actually fell by more than By Stewart McMillan, Associate Director Business Space OPINION CUSHMAN & WAKEFIELD 25 OPINION