CD and Corporate Social Responsibility
In an age of increased business accountability, corporate social responsibility is becoming increasingly recognized as an effective means of enhancing the image of a business whilst effecting real improvement in the communities in which they operate. For multinational organizations in foreign settings, the challenge is to ensure that socially responsible programs complement the local cultural dynamic in order to maximize their potential. To this end, cultural diplomacy, as offered through CDC’s expertise, research and advice, can be a valuable instrument in ensuring that CSR minimizes, rather than exacerbates, the cultural nuances that exist between a business’ global image, and the local community in which they operate. In this way, multinational businesses can hope to achieve a truly global outreach, with not merely a presence, but a genuine engagement with countries around the world.According to the World Business Council for Sustainable Development, Corporate Social Responsibility (CSR) is the “continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large.” CDC believes that ‘corporate citizenship’ is critical in maintaining the delicate balance between business and social responsibilities. As a result, CDC has formulated an initiative aimed at increasing business and economic development while maintaining social harmony with the surrounding communities.
This strategy is characterized by community based development projects, aimed at but not limited to, early learning initiatives to help educate the community as well as develop skills for adults. In doing so both the localities and business will learn about one another and establish a dialogue for understanding and trust. By becoming culturally aware of the localities from the business aspect and becoming corporately aware from the communities perspective, CDC strives to enhance and promote CSR adherence through culturally sensitive initiatives
CD and the Community
CDC is a non-partisan policy research organization that believes in the importance of cultural diplomacy as a means to the effective integration of a business or corporation into its community.CDC recognizes that in a modern, globalized society, businesses and corporations increasingly operate within societies and communities that are culturally diverse. Effective business practice relies on a close bond with these communities, and corporate social responsibility programs are increasingly seen as an attractive prospect for businesses wishing to achieve such a bond, whilst projecting a magnanimous, trustworthy and responsible image. However, within multicultural communities, effective social responsibility programs have the potential to be hindered by cultural mistrust and misunderstanding, and as a consequence may fail to achieve the basic aims of a CSR program.
CDC therefore believes that cultural diplomacy is an invaluable tool in maximizing the potential of CSR. Through expert knowledge, wide ranging experience, and independent, objective research, CDC can offer a means to understanding and appreciating the cultural nuances that exist in the community, and a means to bridge any differences that may arise. This in turn will lead to effective cultural dialogue, which can facilitate the greater integration of a business into the community through CSR schemes. Being affiliated with CDC strengthens our clients’ status in the community not only as socially responsible and well integrated businesses, but also as firms with a particular sensitivity to the importance of inter and intra cultural dialogue.
Through this engagement with the local community, CDC aims to offer its clients a greater role in the global community. ICD insists that one must think both globally and locally – and act accordingly. With this in mind, we believe that the successful integration into the international community relies on effective cultural diplomacy at the local level with the local community. This diplomacy can be mastered by our clients through a partnership with CDC.
CD and Socially Responsible Investments
CDC invests a significant amount of its resources towards research and development in the area of socially responsible investments. SRI development is considered a core component of the CDC mission due to its ability to unite members of the public, private, academic and civil sectors through a mechanism that once managed correctly, can provide dividends for all parties involved. SRI’s are considered one of the most important tenets of CDC as the trickle down effects can positively influence a broad range of societal actors. The relationship between SRI and cultural diplomacy is symbiotic, thus in lieu of CDC’s mandate to concurrently maximize investment benefits while maintaining sustainable and socially responsible business practices- CDC actively works with the investment community to educate and elaborate on the positive social and financial repercussions of directing public and private investment towards socially responsible funds.CDC will organize seminars and conferences attracting international players in the investment field to inform, discuss and network regarding the latest trends in the area of socially responsible investments. CDC’s goal is to provide a platform and framework for the comprehensive inclusion of SRI funds and options for consideration in even the most humble investment portfolio.
