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More firms 'should adopt CSR', expert says

Published: Thursday, 20 November 2008   Category: Life after graduation

Corporate social responsibility (CSR) could become even more important to companies in the future, if the advice of Danielle Cohen, ethics manager at the Chartered Institute of Management Accountants (CIMA) is heeded.

She suggests that businesses which adopt an ethical framework tend to enjoy greater financial success, in an attempt to persuade more firms to consider the impacts of their activities on stakeholders.

Ms Cohen states: "Good ethical standards which are embedded in the company and which you measure your performance against are just a part of good management," suggesting this can have positive impacts on the bottom line of any business.

Such comments may come as good news for university leavers seeking graduate jobs at a firm which takes CSR seriously.

According to the University of Edinburgh, customers, the government and prospective job applicants increasingly demand transparency from firms over their business practices.

Many employer see CSR as an important way of building trust with employees and other stakeholders, it is claimed.

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