Wednesday, September 28, 2011 06:34:22
Turning Corporate Social Investment into a Bottom Line Contributor – 2006
by Fine Healthcare
Given the obligations inherent in The Charter of the Health Sector of South Africa (“the Health Charter”) - currently in third draft stage - for corporate organisations to empower communities through social upliftment, Fine Healthcare believes the time has come for healthcare companies to engage in corporate social investment (“CSI”) initiatives that contribute to the bottom line and simultaneously form an integral part of brand building.
“By adopting CSI projects that are relevant to the business, the company stands to benefit from elevated brand awareness - at corporate or product level - as well as the establishment of more favourable perceptions of the brand,” explains Fine. “In fact, there is a global trend towards nurturing emotional connections between consumers and brands through the perceived (and real!) value-add of social investment such as brand-relevant educational initiatives, support for medical research, or the adoption of disadvantaged individuals or communities. “This not only encourages greater brand loyalty, but also boosts company morale – both of which can serve as key corporate differentiators by giving companies a marketing advantage,” she concludes.