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    CSR Business

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    raghuram.sakamuri

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    © All Rights Reserved
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    CSR Business

    Uploaded by

    raghuram.sakamuri
    3 views2 pages

    Original Title

    Csr Business

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    © © All Rights Reserved

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    Copyright:

    © All Rights Reserved
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    3 views2 pages

    CSR Business

    Uploaded by

    raghuram.sakamuri

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Yes: it helps create a USP in a competitive industry; helps build reputation and

    brand loyalty, which can increase revenue in the long term; supports local
    communities, which can lead to positive publicity.

    No: it is a competitive industry so it is more important to cut costs to keep prices


    as low as possible; the cost of premiums to customers might have to rise if too
    much is spent on CSR projects; it depends on how responsive to price changes
    consumer demand is.

    Overall judgement in context is required such as an assessment of whether this


    insurance company deals directly with final consumers or not. If it does not, its
    business customers might be more concerned with low-cost insurance than with
    the social responsibility policies of insurance providers.
    Kenya Re, as one of the largest insurance businesses in Africa, operates in a
    competitive industry that is experiencing rapid growth. The company has outlined
    several business objectives, including promoting professionalism and ethics,
    increasing return on capital, and expanding revenue in new and existing markets.
    Additionally, Kenya Re has embraced a corporate social responsibility (CSR)
    objective, focusing on the 'Ability Beyond Disability' campaign. This initiative aims
    to improve the quality of life for individuals with physical disabilities by providing
    assistance and medical support.
    Considering the context and characteristics of Kenya Re, it is appropriate for the
    company to have a CSR objective. Here's why:
    1. Social Impact: By focusing on the 'Ability Beyond Disability' campaign, Kenya
    Re is addressing a significant social issue and making a positive impact on
    the lives of physically challenged individuals. This aligns with the principles
    of CSR, which emphasize contributing to the well-being of society.
    2. Relevance to the Business: Kenya Re's CSR objective is relevant to its core
    business activities. As an insurance company, it deals with risk management
    and protection. By supporting individuals with physical disabilities, Kenya
    Re demonstrates its commitment to inclusivity and social welfare, which
    enhances its reputation and strengthens its relationship with stakeholders.
    3. Stakeholder Expectations: In today's business landscape, stakeholders,
    including customers, employees, and investors, increasingly expect
    companies to demonstrate social responsibility. By actively engaging in CSR
    initiatives, Kenya Re meets these expectations and enhances its brand
    image, attracting socially conscious customers and investors.
    4. Employee Engagement: A CSR objective can also boost employee morale
    and engagement. Employees are more likely to feel proud of working for a
    company that contributes to society and supports meaningful causes. This
    can lead to increased productivity, loyalty, and a positive work environment.
    5. Long-Term Sustainability: Embracing CSR can contribute to the long-term
    sustainability of the company. By addressing social and environmental
    issues, Kenya Re can mitigate risks, build resilience, and create a positive
    legacy. This can enhance its competitiveness and ensure its continued
    success in the evolving business landscape.
    In conclusion, Kenya Re's CSR objective, focusing on the 'Ability Beyond Disability'
    campaign, is appropriate for the company. It aligns with its business objectives,
    addresses a significant social issue, meets stakeholder expectations, and
    contributes to long-term sustainability. By actively engaging in CSR, Kenya Re
    demonstrates its commitment to social welfare and enhances its reputation as a
    responsible corporate citizen.

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