If there is one thing the financial collapse should teach us it is that egotistical, greed driven economics is not in the best interest of society or ultimately of the corporate sector. Chaired by Tina Leonard of Director of the European Consumer Centre, the joint Edelman/Marketing Institute/Business in the Community event held Monday November 9th explored the issue of Corporate Social Responsibility as an integral part of contemporary business strategy.

Launching the conference Tina Roche of Business in the Community noted that 80% of the top 250 global companies now issue an annual corporate responsibility report. The comparative figure  amongst the top 100 Irish companies is 45%. The growth of the Corporate Responsibility agenda is evidenced by the fact that in order to tender for contracts to work on the 2010 Olympics companies must attest to their CR activities such as recycling and commitment to a positive work life balance before being considered for a project.

The consumer appetite for Corporate  Responsibility is underlined by the fact that 80% of us say we would prefer to buy from companies that are socially and environmentally responsible. In addition, two thirds of consumers will buy a brand that is seen to be active in the community. 

Mitch Markson, President Consumer Marketing with Edelman shared insights from the Edelman 2009 Good Purpose Study which looks at how people globally view issues of Mutual Social Responsibility.

Key quotes from Markson include reference to President Obama’s declaration that we cannot continue to consume resources without regard to the affect this has on others. He also referenced Danone CEO Franck Riboud’s assertion that the company must operate as both an economic and social project.

At the more extreme and positive end of the scale the Edelman Global Creative Director shared the inspirational tale of Blake Mycoskie who established Tom’s Shoes with a view to providing shoes for children in need. For every pair of shoes bought, Tom’s Shoes provides a pair free to a needy child. It is a simple and highly successful business model that has provided in excess of 150,000 pairs of free shoes to date.

Markson emphasised that profit and social responsibility are not mutually exclusive. Doing good and making money is okay. The Edelman Trust Barometer indicates that in the new world order companies need to devote equal attention to both social and business needs. 64% of people say thay will recommend a brand that supports a good cause and 59% will promote it. The figures are rising year on year.

The key to a good corporate responsibility ethos lies in moving from a top down self-focused proposition to that of a socialised brand. This means giving over some control of the brand to consumers and other stakeholders by finding a unique way to do good that reflects the spirit of your brand. 

Moving from the general to the specific and the global to the national, Robert Jordan, Marketing Manager Glanbia Beverages, outlined the Avonmore brand’s relationship with Barretsown. As part of a three year programme Avonmore aims to increase awareness and understanding of the work carried out by Barretstown in helping seriously ill children win back some of the normality experienced by other children.

Avonmore’s on pack message reaches a million Irish households a week and this combined with TV and promotional activities has resulted in the Avonmore brand being seen to be involved in the community whilst at the same time building public and corporate donations for Barretstown. 

Jacob Fruitfield Group Chairman Michael Carey spoke of the projects his company is involved in at home with the Simon Community and abroad in Haiti, Uganda and Malawi. Carey emphasised the benefits both corporate and personal that accrue from Social Responsibility iniatives and emphasised that Jacob Fruitfield Group activities will not be negatively impacted by current economic pressures.

If you are exploring the area of corporate responsibility and want to tap into consumer views of this growing area contact us on +3531-2886934 or email colm@theresearchcentre.ie and we’ll show you how we can help you achieve your objectives.