CIMA F3 Syllabus A. Financial policy decisions - 'CSR strategy' and 'strategic CSR - Notes ^{11 / 13}

Strategic CSR looks at those good corporate social responsibility activities that are the KEY focus of a business and hence its strategy

If you buy clothes at Loft by design in France - they come with ethical concepts even printed on their clothes such as “build community” or “keep money in the local community”

Not only is this an outward expression but also all purchases result in books being made available in parts of the world without such resources.

Consequently all materials and work is done locally and sustainably regardless of the effect on cost. This is quite a big thing when your competition is say Primark who will use the cheapest source of clothing.

However this good CSR becomes a strategy. It gives a purpose to everything the company does and therefore then gains a niche in the market where like minded customers will be

The idea of strategic CSR is very specific and goes beyond “we are green etc” it permeates all KPIs and objectives