THE VALUE OF CSR THE VALUE OF CSR TO CORPORATE TO CORPORATE

ORG. & ORG. & BENEFICIARIESBENEFICIARIES

Osayi Alile OrueneOsayi Alile Oruene

Executive DirectorExecutive Director

FATE FOUNDATION LTD/GTE, LAGOS.FATE FOUNDATION LTD/GTE, LAGOS.

WHAT ‘REALLY’ IS

CSR

CSRCSR can be defined as……… can be defined as………

‘a concept whereby companies integrate

social and environmental concerns in their

business operations and in their interaction with their stakeholders on a

voluntary basis’- EU Green Paper

‘…actions that appear to further some social good, beyond the interests of the firm and that which is required by law’- McWilliam & Siegel (2001:117)

‘Doing the right thing’

- General

Source: Lagos Organisational Review, August 2007

Understand this………Understand this………

The wrong view of CSR as an act of magnamity or philanthropy makes businesses view it as a matter of choice. And as a result, most companies have embarked on this journey grudgingly or semi-consciously due to societal pressures. This has led to half-hearted initiatives where many have strayed off-track and millions of naira lost.

What CSR should be is……….What CSR should be is……….

….the continuing commitment by businesses to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as the local community and society at large.

Source: SIAO CSR Newsletter, Vo.l 1, Iss. 1, 2008

A CSR oriented A CSR oriented organization…..organization….. Is economically, socially and

environmentally responsible.

Creates valuable relationships between its workers, organization and the society.

Shows how accountable it is in the deployment of its resources and that of its host communities.

Easily creates a laudable brand with strong reputation.

To achieve a sound CSR To achieve a sound CSR policy….policy…. Corporate organizations need to

understand that CSR has advanced beyond mere philanthropy to a constant responsibility and accountability for best working practises and impacting the environment positively

Corporate companies need to have a CSR focus.

Corporate companies should partner

more with developmental organizations.

Cont’d…..Cont’d…..

Should involve their Board of Directors in carrying out CSR activities.

BEING CSR BEING CSR ORIENTED………ORIENTED………

Helps an organisation secure many of the potential benefits of being a responsible corporate citizen.

Helps an organisation win the trust of its stakeholders and set the organisation apart as an accountable business.

Helps put an organisation ahead of making profit to creating sustainable development.

Cont’d……….Cont’d………. Develops and cares for its workforce,

who in turn give their best for further corporate development.

Helps minimize social attacks Further aids the achievement of

development organisations’ missions.

Influences the effectiveness of development institutions in the society.

Benefits of CSR – Corporate Benefits of CSR – Corporate OrgOrg

stronger financial performance and profitability (e.g. through eco-efficiency),

improved accountability to and assessments from the investment community,

enhanced employee commitment, decreased vulnerability through stronger

relationships with communities, and improved reputation and branding.

Benefits of CSR – Benefits of CSR – StakeholdersStakeholders

Who are stakeholders?Who are stakeholders?

Stake Holders are people affected by the activities of the corporate organisations. They include: Customers, Investors, Employees, Local Citizens, Government etc.

They are very influential in the decision making of Corporate organisations.

Stakeholders BenefitsStakeholders Benefits

Stakeholders benefit form CSR in every aspect of their lives:

Health Finance Family Social Security Education etc.

CSR IN OTHER COUNTRIESCSR IN OTHER COUNTRIES Developed Countries' government play

a major role in the sustainability of CSR than in developing countries.

CSR in advanced countries emphasize very much on ETHICS, e.g. In the US, the Sarbanes-Oxley Act maintains that senior executives (CEOs) are to certify their companies' integrity and are liable to suffer the consequences

CSR Oriented Corp. orgs.

CSR Oriented Corp. orgs.

SocietySociety

Dev. OrgsDev. Orgs

WorkforceWorkforce

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How Corporate orgs and How Corporate orgs and Stakeholders interrelate to add Stakeholders interrelate to add

valuevalue

How Corporate orgs and How Corporate orgs and Stakeholders interrelate to add Stakeholders interrelate to add

valuevalue

Some Good Value benefiting Some Good Value benefiting CSRCSR

MTN Foundation (Nigeria)– MTNF partners several development institutions including FATE FOUNDATION to execute sustainable projects in 3 areas namely Health, Education and Empowerment.

The COCA COLA Africa Foundation:- TCCAF focus on projects in the areas of Entrepreneurship, Education, Health and Environment. TCCAF partners with credible organisations and focuses on high community engagement.

Ecobank Foundation :- Partners with FATE FOUNDATION on a steady basis to develop entrepreneurship in Nigeria.

British Telecommunication (BT) :- BT partnered with OneWorld - a charitable organisation working to promote human rights and sustainable development across the globe –

IBM :- Empowering women entrepreneurs in developing/emerging countries by connecting them with IBM professionals. The CSR model provides a unique blend of coaching and additional support methods.

A Good Word……A Good Word……

CredibleCredible Partnerships with Partnerships with CredibleCredible Development Development

organisations will assist organisations will assist Corporate firms achieve Corporate firms achieve

CredibleCredible and sustainable CSR and sustainable CSR programmes.programmes.

PARTING WORDS ……….PARTING WORDS ……….

………When it comes to CSR, Corporate Firms

Should

“Walk the Talk”

CONTACTING FATE:CONTACTING FATE:Lagos Office

1st Floor, Water House, Lagos State Water Corporation, Ijora

Tel: 4706836/40; 4744237,

Port Harcourt Office

141, Olu Obasanjo Road, (Charis Plaza), Port Harcourt

084-743525

E-mail: info@fatefoundation.com

Website: www.fatefoundation.com

THANK YOUTHANK YOU