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In terms of Corporate Social Responsibility (CSR) in Malaysia, most companies are doing it philanthropically, and lack an angle of incorporating business activities into them. Some companies are even conducting their CSR activities reluctantly, as regulatory bodies have made it a must for them.
My book Beyond Profits will shift your understanding and approach towards CSR. CSR is a step for companies starting to look and go “Beyond Profits”. However, a true understanding of CSR will lead you to realise that it must be strategically aligned to the business and operations, rather than being a stand-alone pet project. It should address both internal- and external-facing initiatives and, thus, can be a part of either organisational culture change or business turnaround strategy.
The goal is for the mindset and commitment towards going “Beyond Profits” to be strongly adapted into the core of the organisation. This will ultimately lead towards business sustainability.
Avoid mistakes and pitfalls on the route of profit maximisation
Create strategic CSR initiatives that link back to business operations
Align your business strategy towards sustainability
Increase sustainability innovations and initiatives
How Corporate Social Responsibility(CSR) is more than just philanthropy. It is part of something bigger, which is to go Beyond Profits in order to achieve business sustainability. Corporations who do not consider their responsibilities beyond the economical sphere will face severe business challenges. The alignment of CSR initiatives towards business strategy and injecting mindset of “Beyond Profits” within the core of the organisation will bring about success and longevity.