Friday, July 27, 2007

Risk and Opportunity

I fundamentally believe that CSR is about companies behaving responsibly; why would they do this? Simple: to reduce risk and find new opportunities. Those risks and opportunities can be related to PR, employees, sales etc etc. Though many companies like the word 'opportunity', others might not really understand the word 'risk', a good way of expressing this is to explain that it is all about trying to "pre-empt potential blindsides". In business, there is always something that will unexpectedly come up and affect you. It is necessary to try to anticipate these and act to mitigate their impacts.

Hence the importance of stakeholder dialogue so a company is more in touch with its stakeholders and able to better predict future 'blindsides'. It is crucial -start engaging today!

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