LONDON--(BUSINESS WIRE)--Only 28% of British businesses and 13% of the British public believe that Corporate Social Responsibility (CSR) is a central driver of modern business success, according to new research conducted by YouGov in conjunction with Kohli Ventures, the global technology investment company. Furthermore, 62% of the UK public didn’t know what to think about CSR or thought that it was merely a tick box exercise.
Looking forward though, 76% of the companies polled believed that business should play a greater role in influencing the social and economic environment from where they derive their workforce – supporting “social accountability” to their local community over the wider notion of corporate social responsibility. This feeling is shared by Deloitte’s recent global poll of Millennials, which revealed that 87% believe that “the success of a business should be measured in terms of more than just its financial performance”.
Of the 208 senior decision-makers at large British businesses asked by YouGov about how they measured the impact of their CSR programme, 22% said they had no measure at all and 17% didn’t know. 30% measured CSR in terms of the number of profile raising opportunities. Only 30% measured the beneficial impact on partners and communities derived from the CSR programme.
More recently there has been an increasing move from CSR to Social Enterprise. A recent poll by Social Enterprise UK found that the social enterprise sector is blooming, with social enterprises now outperforming traditional UK SMEs in terms of turnover, recruitment and growth. Government figures show that social enterprises now contribute more than £24bn to the economy and employing nearly a million people.
Reacting to the research, Chairman and CEO of Kohli Ventures, Tej Kohli, said: “Today’s research raises questions about the impact of traditional CSR programmes and accountability of businesses towards them. I believe passionately that doing good can and should be woven into the DNA of doing business. As discussed in Davos recently, there is a critical role that business has to play in delivering the UN’s recently agreed Sustainable Development Goals and we are conducting further research into how big business can best help do this.”
NOTES TO THE EDITORS
About Kohli Ventures
Kohli Ventures is a global investor in innovative ideas, disruptive technology and dynamic growth businesses. Founded by Tej Kohli, a visionary technology entrepreneur and global businessman, Kohli Ventures’ focus is on collaborating with entrepreneurs and organisations that require investment, advice, and a management infrastructure in order to achieve their true potential. Its mission is to invest smart capital in innovative ideas, disruptive technology and dynamic growth businesses that have the potential to change the lives of many around the world.
Over the past 30 years, Tej Kohli has invested multi million dollars in innovative disruptive technology start-ups and high-growth companies across the globe, including but not limited to, Grafix Softech, Elegant Technology, Cedars Online, Dynacart Solutions, and Ozone Real Estate. Kohli Ventures was incorporated in 2014, to bring all investments under one roof. Kohli Ventures has offices in Abu Dhabi, Buenos Aires, Delhi, London, Miami, San Jose and Vancouver.
About YouGov’s research
All figures, unless otherwise stated, are from YouGov Plc. Total sample size was 208 senior decision makers in large UK businesses. Total sample size for the public was 2,115 adults. Fieldwork for business was undertaken between 3 – 9 December 2015. Fieldwork for the public was undertaken between 9 – 10 December 2015. The surveys were carried out online. The figures for business have been weighed by sector to the known profile of large businesses in the UK to give a sample that is representative sectors of the UK. The figures for the public have been weighted and are representative of all GB adults (aged 18+).