Sunday, October 21, 2012

Corporate Social Responsibility in Action

Canadian Royalties Inc. Nickel Mining in Nunavik

An investment in relations with those who may contribute to the companies’ growth or those who may simply be in the region where the company activities take place is an investment that cannot be overlooked today. Relationships are at the core of successful business practices and the importance placed on reputation, job satisfaction, advancement among the spectrum of many other people related issues is what supports the companies vitality and longevity within the community where operations happen. Those people who stand behind the organization and participate in making decisions have influence over how the company will perform but also of equal importance in the age of instant communications and distribution, the management of how the company will be perceived. Building the companies’ brand through leveraging best practices in CSR is a winning strategy that has considerable upside for companies facing levels of scrutiny unheard of in just the last decade.

Meaningful contribution to Corporate Social Responsibility is no longer a policy concept that is essentially on the record. Proactive demonstration of actual steps toward implementation and follow through have become mission critical today in the resource sector where so much is at risk toward ensuring the proper flow of activities toward profitable outcomes.

The risk associated for those organizations proceeding without consideration to informing their stakeholders in a meaningful way about the values and principles that extend from the corporations leadership brings a downside. Planning, and development of CSR strategies combined with proactive implementation is a robust strategic management function that will support more meaningful and positive impact especially during times when unexpected circumstances emerge and hold the company accountable or blindside the company due to lack of planning and community engagement.

This investment goes to the heart of building the organizations brand and by extension goodwill across the organization and externally among the many people in the community who one day may influence the companies growth. Moreover, the company may need the support particularly when facing obstacles or potential barriers. Not making the commitment places the corporation at risk of losing valuable goodwill among stakeholders who extend well beyond the local region and include a global audience today as information is rapidly shared. 

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