Corporate Social Responsibility (CSR) has become an increasingly important activity to organisations globally. It is a growing movement that has encouraged organisations to progressively recognise the benefits of its CSR programmes to the communities in which they operate. It has become a fundamental business practice and has gained increasing attention from its executive management team.
But for different organisations CSR may mean something different.
General manager, group marketing & communications at Republic Bank, Anna Maria Garcia-Brooks said, "CSR is an investment to develop the skills and capacity for the people in our communities."
She said CSR was not a hand-out but it provided communities with the necessary tools and expertise to make them become better citizens and it has helped us grow as a business. "It is about building and strengthening communities and giving back." She added that the company viewed its CSR activities as key to forming a partnership with its stakeholders. We have a responsibility to give back to the community that assisted the company in becoming successful. Our aim therefore is to help those who cannot help themselves.
Asked how long the company has been involved in CSR, Brooks said: "We have always been involved in CSR activities but with a general focus. When I joined the company in 1993, it was very active in the community, however, the company had decided in 2003 to associate a brand to its CSR initiatives and narrow the focus, in order to make a meaningful dent into society." As a result she added that the company gave birth to the brand The Power to Make a Difference. She said the brand focuses mainly on youth development in areas such as education, sports and culture. The aim is to empower those in our community to make a difference and a contribution to the society.
CSR and Culture
Brooks said their involvement in culture is to keep it alive and to teach the younger generation about their history. She said there was a difference between sponsorship and investment. She said for Carnival, Republic Bank invests about $1 million to the Junior Parade of Bands and with this investment, workshops are held to teach the youths how to design costumes and about Carnival production. "We provide an environment for them to become involve in their own culture and to have an appreciation for its value." Brooks added that the company had re -focused its investments in steelpan by taking a different perspective. She noted that the youths must be able to benefit from the investment and so the company decided on the initiative to assist the youths in learning to read music and play the indigenous instrument, the pan; hence the idea for the Pan Minors Initiative. She said the company also make small contributions to un-sponsored steelbands to assist them through the season.
CSR benefits
Brooks said as more citizens recognise the underlying social responsibility with our brand, the company is viewed as a more caring company and this is important to us. She added that some people are now having a greater appreciation for it. "Emotion drives people to action," she said. Brooks further noted that the company was not expecting financial returns but a better quality of life for citizens and an appreciation to become more independent given their limitations. She said they also encourage their employees to get involve on a national level so in the long term, customers would make decisions more than just on a price level but would also take into consideration how the company treats the community and their employees. However, once a company broadens its perspective, it becomes relevant, she added. "It is about service and promoting and improving a better quality of life for citizens," Brooks added.
Therefore she said it was not about sponsorship but social investments.
Long standing involvement
Echoing similar sentiments was TSTT's communications manager, Graeme Suite, who said TSTT's involvement in CSR pre-dates the establishment of TSTT more than two decades ago. Therefore, regarding charitable CSR, through the TSTT Foundation, new initiatives are continuously being evaluated to support NGO's and community-based organisations (CBO's) involved in youth development in the areas of education, culture, sport and health. The two main areas of focus, he said, are the commercial sponsorships which create mutual commercial objectives for the parties involved. He added that there are also charitable sponsorships in which the objective is to use resources to help build the capacity of the beneficiary to successfully carry out its mandate. However, he said there is only minimal commercial payback for many sponsorships.
Development of culture
Suite said as the national telecommunication's provider has taken a keen interest in supporting the development of culture as a sustainable enterprise because in the wider scheme of things, if it contributes to the economy then it makes good business sense for TSTT. But he said, "On the social side, we have always had an interest in supporting the development of artistes and athletes."
However, the Carnival enterprise is a major proving ground for local talent, so giving support to help develop skills of artistes has complemented the company's objective. If we use the International Soca Monarch competition as an example, Suite said, then the benefits of such investments include enhancing the marketability of events and supporting the professional development of entertainers which ultimately benefits the national community. Suite said the event has greater and greater international appeal with all of the economic benefits that goes along with that, not only for TSTT but for many other local entrepreneurs and suppliers.
Benefits and international appeal
Suite said the undeniable reality is that convergence in the communications industry has blurred the lines distinguishing telecom, media & entertainment and advertisement companies. This is currently evidenced in TSTT with its new IPTV offering, broadband, security services and Wimax. All over the world leading communications companies continuously use blended entertainment and marketing strategies to reach and keep more customers. An example of this he said was the Beyonce concert which TSTT Board of Directors indicated that the motive for hosting the show was informed by marketing strategies that have enabled the company to maintain a strong growth path over the years. However, the wider benefit of the Beyonce concert is also evidenced by the fact that several hundred ticket purchases have taken place with overseas buyers who will be coming to Trinidad for the concert. The concert therefore complements T&T's tourism goals.
