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by Rajen Kumar
No Escaping Social Media
Running a magazine concentrating on issues of small and medium enterprises and managing with limited resources is a like living life on the edge. In this rush of meeting deadlines,...
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Apr 2012EMRC, Brussels Associates with SME WORLD as its New Media Partner
EMRC has promoted business partnerships with the developing world and has organised dozens of business forums in key decision-making cities, such as Amsterdam, Rome,...
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Lesser Known Story of CSR: MSMEs Impact on Society, Environment
Jul 2010
''Through their typically local anchoring, Small Medium Enterprises (SMEs) are well placed to make a strong contribution to socio-economic development at a local level and act as responsible members of a community. Policy makers and others would do well to give more recognition to what many SMEs already do in this regard,'' the study says.
The study notes that Corporate Social Responsibility (CSR) is a term that was created ''primarily by and for larger companies'' and, therefore, is not necessarily well adapted to the world of SMEs. It, however, says that CSR in SMEs is ''less formal and more intuitive'' than in larger enterprises, ''but that does not make it less valuable''.
''The challenge is to get more SMEs to do more CSR,'' it says. The study says CSR is not a short-cut to business success, but an investment that can pay off in the longer term. It, however, can bring advantages, for example in terms of staff recruitment and retention, staff development and motivation, customer loyalty and reduced energy expenditure. CSR basically refers to companies integrating social and environmental concerns in their business operations and in their interaction with the stakeholders on a voluntary basis. It says in the knowledge economy it can increasingly be a source of innovation and can facilitate access to and sharing of information. ''CSR is about continuous improvement and should be seen as part of the modern model of business excellence. By managing CSR as a strategic resource, enterprises can better reap these advantages,'' the study says.
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