CR in a Recession: Why it's more important than ever

CR in a recession

In the current economic environment many questions are being asked about the ongoing relevance of Corporate Responsibility (CR). In fact, last October, just as the economic downturn was accelerated dramatically by the global financial crisis, Business in the Community Ireland, as part of its CR Week, hosted an interactive debate entitled “CR and Recession: An Oxymoron?” At the event hosted by Ulster Bank, Dr Rosa Chun Ph.D, Professor of Ethics and Corporate Responsibility, Manchester Business School, and Gerard O'Neill, Chairman, Amárach Consulting. Both concluded that CR is even more essential during a time of recession. Will Corporate Responsibility survive the budget cuts, redundancies, downsizing and restructuring? The assumption is that as budgets come under pressure, practices informed by CR could decline dramatically. On the contrary, Business in the Community Ireland reiterates the ongoing value of CR, especially now, where it has been ‘embedded' in the company - that is, where it informs company policies, decisions and practices. To illustrate, we have collated a wide range of international opinions and data, all supportive of the view that where CR informs company decision-making, there are very tangible benefits in a downturn. Business in the Community Resources Business in the Community Ireland reflects on the Future of Corporate Responsibility and The Value of CR: Click here to read article Business in the Community Ireland recently launched Ipsos MORI research revealing the importance of Corporate Responsibility to consumers in a downturn. Click here to read the 2009 Consumer Survey Report Click here to read the release Business in the Community Ireland runs 4 innovative social inclusion programmes. These programmes focus on two key themes; Employability of marginalised groups and Business Support for Education. Becoming involved with these programmes can be a practical and tangible way of engaging in Corporate Responsibility Click here for more information Business in the Community UK has also collated a wonderful online resource specifically focusing on CR in a recession. Click here to visit Business in the Community UK - CR in a Recession online resource Business in the Community UK research reveals significant link between Corporate Responsibility and improved Financial Performance: Click here to read press release Click here to read full report Owen Evans, Wales Director at Business in the Community, explores the innovative thinking businesses are applying as they seek to downsize and restructure to survive the recession. Click here to read BITCI member PricewaterhouseCoopers launch 'Managing tomorrow's people - global and Irish survey reveals what the millennial generation want from work - 75% of Irish graduates state they will seek employers with CSR values: Click here to read release Click here to read full report Videos Business in the Community UK - CR and the financial crisis A message from Stephen Howard, Chief Executive, Business in the Community UK Cranfield University - CR Through the Recession Professor David Grayson looks at how the recession is impacting on Corporate Responsibility
Useful Links CSR360 A discussion thread on the credit crunch from CSR360 Global Partner Network. This is a network of independent organisations that work at the interface of Business and Society to mobilise business for good. Huffington Post A Huffington Post piece by chairman and CEO of Starbucks Coffee, Howard Schultz. Ethical Corporation An Ethical Corporation piece on how recession-proof ethics can help companies weather the downturn Ethical Corporation Blog 10 reasons to keep doing CR in a recession from the Ethical Corporation blog Sun Microsystems Blog Posts on Sun Microsystems blog on CSR and recession AI Digital blog Blog entry from AI Digital, the internet marketing company, on ethical decision making tips for businesses during difficult times Mallen Baker Argument for CSR by UK-based CSR expert Mallen Baker Corporate Citizenship Short presentation highlighting the business benefits of CR from Corporate Citizenship Business in the Community UK A CR Issue Briefing from Business in the Community UK New Statesman Interview with Daniel Litvin - author of Empires of Profit: Commerce, Conquest and Social Responsibility - about whether CSR can survive the recession