How to support Corporate Social Responsibility (CSR)
We know that innovation is top of mind for businesses looking to stay competitive. Many corporations look for new ways to gain an edge, and often that means greater engagement with their employees, customers, and those communities they operate in.
Corporate Social Responsibility (CSR) is one such way that smart businesses leverage to improve image, brand, and to simply make a difference; many corporate leaders are turning to startups to help boost their strategies.
This is what we mean when we say Activate CSR Strategies.
Corporate Social Responsibility is a set of policies and processes that ensure a company is conducting business in an ethical way. This includes taking account of their social, economic, and environmental impact as well as considering human rights. Corporations employ different methods and activities to impact their social responsibility, including:
- Working with local community organizations
- Sponsoring socially responsible startups
- Developing customer and employee relationships
- Protecting the environment
- Practicing sustainability
Corporations source partnerships and ecosystem intelligence to boost their own strategies. In our latest installment of our Insights Series, we discuss how Cisco Corporate Affairs uncovered ethics-focused startups in the global innovation landscape as a way to support its Corporate Social Responsibility (CSR) strategies. Download CSR Strategies Case Study, for a closer look. Overall, the report provides a thought-provoking look at how large organizations are embracing young, innovative startups through partnerships and knowledge to support business needs in key areas.
Innovation and CSR Influence Each Other
Consumer and corporate demands for socially responsible practices in business can drive new innovations. Would inventing packaging that uses less plastic have happened if not guided by social responsibility demands? On the flipside, let us consider startups’ influence on corporations that may or may not have set up CSR strategies. Wouldn’t seeing the market potential for products and services invented with a focus on social impact inspire corporate partnership and investment?
There certainly is a case to be made that innovators and their startups learn from corporations- and vice versa. CSR Strategies Case Study discusses this notion of mutual influence in its collection of cases.
Value of Collaboration
Interest from corporations into the world of business incubators and accelerators is evident; over one-third of the UBI Global member programs benchmarked reported at least one corporate partner. It is through these partnerships that corporations secure their future competitive advantage while simultaneously protecting their core brand identity.
Realizing the value of innovation starts with education on the global landscape, and UBI Global is dedicated to enabling worldwide collaborations that impact innovation. We offer international events, insights, tools, consulting, and more to activate your innovation through our interactive learning community. This network consists of more than 1200 business incubators and accelerators from over 90 different countries. Our members represent over 20,000 startups worldwide.
As the curator of this interactive learning community, we are sharing our knowledge of corporations in CSR Strategies Case Study
Previous Installments of the UBI Global Insight Series:
Mar 19, 2021 The World Benchmark Study Begins Spring 2022
What you need to know about the next World Benchmark Study Since 2013, UBI Global has conducted the World Benchmark Study, an analysis of the impact and performance of hundreds of business incubators and accelerators from around the world. Our members consist of over 1,200 business incubators, business accelerators, and corporate open innovation teams, who […]
Mar 19, 2021 NEW! Triumph of Innovation Impact Study
This new study by UBI Global opens in August 2021 Join UBI Global as we examine the transformative year in innovation with the Triumph of Innovation impact study. This new study will identify success within the global innovation ecosystem despite the immense challenges brought on by the pandemic in 2020. By celebrating the transformations made […]