New Ways to Leverage Innovation: Activate CSR Strategies
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:
Nov 22, 2021 Three reasons startups fuel any innovation ecosystem
A guest post by Tala Al Ansari, Director of District 2020‘s Innovation Ecosystem and supporting partner to the Triumph of Innovation impact study and report. Startups are often referred to as the lifeblood of an economy, being representative of the kind of bold thinking, innovation, and rapid deployment that are so important in a world […]
Nov 10, 2021 Expand your global reach by collaborating with ITÜ Çekirdek
ITÜ Çekirdek, recognized by UBI Global among the world’s top programs, seeks global collaborators ITÜ Çekirdek is seeking global partners to help design an entrepreneur exchange program and collaborate in the areas such as: • Network sharing • Infrastructure sharing • Entrepreneur guidance on the current market and […]