Few companies that work with CSR do it to directly increase innovation; however, most see it as a positive byproduct of implementing CSR strategies.
By working with CSR, they greatly involve their employees and in that way benefit from all the knowledge and wealth of ideas that the entire organisation holds. CSR is based on stakeholder thinking, i.e., that one becomes aware of whom they are affecting in their surroundings.
Customers and consumers are a special group, and closer cooperation with them provides valuable knowledge about current and future customer requirements and wishes for the company and its products.
Through a stricter set of requirements – called the Supplier Code of Conduct or simply the Supplier Code – one builds a tight-knit and strategic collaboration with one’s suppliers.
Lastly must be mentioned the cooperation with NGOs (non-governmental organisations). In genuine cooperation, NGOs go from being the proverbial pebble in the shoe to being valuable sources of knowledge and partners. Cooperation such as this creates the foundation on which new innovative solutions can be built.
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