Industry Challenges
Society has always had certain expectations of business, and in today’s environment corporations are expected to do the right things socially and ecologically. But companies often struggle to understand how to make corporate social responsibility (CSR) effective and what their key objectives should be. To get the most out of their CSR efforts, organizations need to answer some key questions:
Why does CSR need to be on top of the management agenda and an integral part of a company’s strategy?
Why can we not afford to ignore CSR, even in a difficult economic environment?
How can we be rewarded in financial markets for CSR?
What are the potential pitfalls of CSR?
How can we differentiate our CSR activities from those of other companies? How can we use them to differentiate our product portfolio?
How much should we invest in CSR in relation to revenue, profit, or overall investment?
How should we measure the effectiveness of our CSR efforts and investments?
BCG Competencies
BCG supports companies around the world that want to improve their social impact and also improve the benefit to their business through CSR initiatives. We take a holistic view, incorporating economic, social, and ecological aspects—looking beyond just the functional aspects of the issue:
Our fundamental belief is that CSR is integral to a company’s overall strategy, driven by understanding its root causes, opportunities, and economics
To be sustainable, CSR efforts must create benefits for the firm and its employees, benefit the firm in the market, and also have a positive social impact
BCG helps corporate clients take such a strategic approach to achieve competitive advantage and maximize social impact while minimizing risks. In addition to working with corporations, we work with industry associations, philanthropic bodies, nonprofit organizations, and governments to create value through CSR.
We leverage a strong global platform to share best practices and trends, and our local experts provide insights into the specifics of each market.