Corporate social investment (CSI) projects offer a number of benefits for companies. These projects must be aligned to business values as well as causes that the shareholders care about. On a broader level, CSI means that the business is concerned about its impact on the environment and society at large.
As a component of corporate social responsibility (CSR), CSI is concerned with community upliftment. Companies dedicate a certain portion of their budgets towards programmes that are aligned to business values and those that will bring more value in the form of increased sales, profitability or even more investment.
CSI projects have a number of benefits for companies. It’s important to embed CSI into marketing plans, while also ensuring that there is clear communication with stakeholders and shareholders.
Rolling out a CSI project requires a certain amount of planning and dedication towards achieving objectives that have been outlined.
- The first thing that a business needs to do is to identify the causes it cares about and is willing to support. Equally important is figuring out the kind of support that the identified cause needs.
- A key component of rolling out a CSI project is the development of a coherent strategy for the programme, with clear objectives. It should have attainable goals.
- Only assist with amounts that the business can afford. This is why it’s essential to budget properly.
- Feature attainable goals and remain authentic. If there are setbacks along the way, be honest about it. Customers or clients are more likely to trust an authentic business, rather than one that is implementing CSI projects as a public relations exercise.
- Identify strategic partners to collaborate with.
- Send out press releases to members of the media.
- Be strategic about how you compile CSI reports, so they appeal to stakeholders and shareholders alike.
- Be diligent about implementation and reporting on progress.