A derivative of Corporate Social Responsibility (CSR) is a corporate social investment (CSI), which constitutes projects undertaken by a company, not directed at increasing company profits. They are more about finding ways to align the company’s values and mission to particular causes.
CSI initiatives provide companies with ways to contribute towards efforts that improve society. This is an investment that has a number of advantages and which can take on many forms. Some companies may choose to invest in education because the CEOs are passionate about this cause the most and have found ways to ensure that business operations focus on improving this sector. Others may choose to support the arts because the corporate culture aligns with the creative sector.
Benefits of Corporate Social Investment:
Company is regarded as forward-thinking
CSI is an important part of the modern company. Customers and clients are more likely to support organisations with a CSI portfolio. These companies are regarded as progressive.
May increase brand awareness
One of the benefits of Corporate Social Investment is that more people may become aware of the brand. By being seen to be doing good in the community, the company may gain new customers or clients. By having a great and well-planned initiative, a company may be able to improve awareness about its brand.
CSI initiatives may be regarded as good corporate citizenship
Running an organisation in the 21st century means that it has to socially responsible. Good corporate citizenship means that the organisation is regarded as one that is aware of its effects on the environment and society in general.
May lead to superior financial performance
Having a CSI initiative may indirectly lead to the company making more money.
