“Australian companies and organisations are missing out on creating new products, services and markets because they fail to take advantage of opportunities for innovation provided by their corporate social responsibility (CSR) programs, according to The State of CSR in Australia Annual Review 2011/2012.
The research shows that CSR in Australia is still driven by the traditional perception that its value lies in enhancing reputation, reducing risk and facilitating regulatory compliance.
Respondents to the State of CSR in Australia Annual Review 2011/2012 survey conducted by the Australian Centre for Corporate Social Responsibility (ACCSR) rated ‘helping to obtain better access to new markets’ as 9th out of 13 drivers of CSR in their organisation – far below strengthening brand and managing community expectations about the impacts of their business.
“Developing new products, services and markets as a result of CSR seems to be a happy accident for companies in Australia,” said ACCSR Managing Director Dr Leeora Black.
“Rather than grasp the potential of CSR programs to create value, our research shows that organisations still see their CSR in very traditional terms. But some organisations are discovering that CSR can actually create new opportunities for them – and meet consumer desires for more environmentally and socially responsible products and services.””
To download the report click here