Budget constraints and cost fears curbing CSR progress
Although corporate social responsibility activities can help to attract and retain customers and boost profitability, short-term budgetary constraints and cost fears are acting as a break on fulfilling objectives.
According to a survey among 400 global companies entitled 'Corporate Sustainability: a progress report' undertaken by management consultancy KPMG and the Economist Intelligence Unit, the main business driver for going down the CSR route was to try and boost brand reputation. Next on the list was a need to comply with regulatory requirements.
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