The challenge for businesses to act responsibly should not be overlooked while teams try to cope in the current financial crisis.
Stephen Howard, chief executive, Business in the Community, has issued a statement encouraging businesses to stand firm on their corporate responsibility initiatives.
He said: “The current economic and financial crisis has clearly shown that business needs to continue to invest in a realistic, robust and relevant corporate responsibility approach. It is also essential we drive the agenda forward with a renewed engagement in issues such as incentives, rewards and governance.
“These are difficult issues but it is critical they are explored and addressed if we are to strengthen, and in the banking sector rebuild, trusting relationships.
“Recent events demonstrate that being a responsible business is more important than ever. The case for corporate responsibility is proven. It is no longer an option for businesses to neglect making a responsible approach integral to their business model.
“The principles of what makes a business responsible need to be applied to every aspect of a business. Businesses, in developing their people, trading responsibly, protecting the environment and working in partnership with communities, will improve and sustain their financial performance.” At the end of October Business in the Community will launch groundbreaking research looking at the financial performance of companies that have participated in Business in the Community’s corporate responsibility index over the past six years.