Cause-related Marketing (CRM) and Corporate Social Responsibility (CSR) can go a long way in building a reliable brand image and reputation. While campaigns vary in their scope and design, the nature of such relationships carry common elements like synergy, trust and influence. This article looks closely at some of the key factors that need scrutiny while arriving at a robust and reputed campaign from the standpoint of communication, marketing and social responsibility. The mode of partnerships enables an organization to build loyalty amongst shareholders, develop strong local and global relationships, enter new markets, and generate positive publicity. The source of information for this article is both from primary and secondary data. Given the significance that companies place on their corporate culture and how they use their core values to determine CSR initiatives, it is important for developing organizations and donorswho want to explore partnerships with companiesto understand corporate culture, the history of corporate philanthropy, and core business values. This knowledge will help frame an exploratory dialog and set the parameters for what might be possible in a partnership.
Corporate
Social Responsibility and Cause-Related Marketing are more
than buzz words today. While the issue of obligation and
commitment to society beyond business has risen to prominence
among management circles as well as the wider public, it
is still a nascent subject among stakeholders. Companies
need to be responsible and accountable to other `stakeholders'
in society such as their local communities, their employees
or nonprofit organizations. The term corporate scial responsibility
or cause-related marketing is generally used to express
the idea that companies have obligations, which extend beyond
shareholders.
In
recent times, corporate social responsibility has gained
popularity among the companies because of its long-term
benefits. Companies should be responsible to the society
for their activities and owe to the environment in which
they operate. Identifying the right cause based on inner
values and common goals can bring about the best results
both internally with employees and also externally with
stakeholders. |
