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in Business Studies by Master (866k points) | 886 views

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Benefits of CSI for businesses

  • May attract experienced employees/increase the pool of skilled labour which could increase productivity.
  • The business may have a good public image/reputation as they look after their employees/conduct themselves in a responsible way.
  • CSI projects may be used as a marketing strategy to promote products/ services.
  • The business may have a competitive advantage, resulting in good publicity and an improved reputation.
  • Promotes customer loyalty resulting in increased sales/profit/more customers.
  • CSI projects promote teamwork amongst the employees of the business.
  • Business may enjoy tax advantages, e.g. tax reduction/rebates.
  • Assist in addressing socio-economic issues e.g. poverty.
  • If the corporate sector gets voluntarily involved in CSI, it is less likely that government will enforce the issue through legislation.
  • Employees feel like they are making a difference in working for this business.
  • It helps to retain staff/lower staff turnover as employees' health/safety is considered.
  • CSI helps to attract investors which may lead to expansion/growth.
  • Improves the health of its employees through focussed CSI programmes.
  • The business may become more community-based by working closely with the community to roll out skills development projects.
by Master (866k points)
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