|
Business News Center |
Saturday, July 7, 2007
Corporate Social Responsibility and Healthcare
Business
By Dr. Fatih
Mehmet GUL, M.B.A., M.D.
A study by Walker Research found that
when price and quality are equal, 76% of consumers would switch brands
or retailers if a company is associated with a good cause.
(Dubai Health & News)
Healthcare business works to improve
and maintain individual and community health. The healthcare sector
proactively seeks out the health needs of the community and addresses
those needs through the strategic growth and implementation of programmes and services. All
the stakeholders in the healthcare sector (medical equipment
manufacturers/dealers, pharmaceutical companies, hospitals, etc.)
have responsibility for social and economical development. Corporate
Social Responsibility (CSR) is a systemized way for responsible business
to engage in the process.
CSR is about how
businesses align their corporate values and behaviour with the expectations and
needs of stakeholders - not just customers and investors, but also
employees, suppliers, communities, regulators, special interest groups,
and society as a whole.
CSR is essential to the long-term prosperity
of companies as it provides the opportunity to demonstrate the human
face of business; a vital link to society in general and, in particular,
to the communities in which businesses serve.
Key CSR planning issues include
governance, responsible sourcing, eco-efficiency, environmental
management, stakeholder engagement, labour standards, employee and
community relations, social equity, and human rights.
Developing (and communicating) a
comprehensive CSR strategy takes time, commitment, focus, designated
people, and financial resources. And, it requires commitment from the
executive offices on down to every individual department and staff
position. To be truly effective, your CSR strategy must permeate in all
that you do - from hiring to branding to manufacturing to sales - and it must
become an integral part of your "corporate DNA".
To plan successful CSR programmes, healthcare companies should focus on the
needs of the community, the environment, the workplace, and the marketplace.
Building closer ties with the community and industry stakeholders will make the business stronger at
managing corporate risk. It's
been shown that companies who put responsible business at their core
value and develop new products and services, access new markets,
recruit a more diverse and talented workforce; are much better
positioned to
minimise risk. How a company manages its risk is always
identified as one of the main critical factors to success.
CSR is not only about fulfilling a duty
to society; it can elevate the competitive advantage and position of a company.
CSR can also have a major effect on retaining and growing customer
loyalty. And, in today's competitive environment, marketing plans cannot
afford to miss out on the social and business benefits that can be derived from
investments in CSR programmes.
Effective CSR programmes can offer companies
the ability to:
Improve their access to capital
Enhance their brand image
Increase sales
Attract, retain, motivate and develop
employees
Sharpen decision-making
Improve risk management
Reduce costs.
Examples of CSR programmes in the healthcare business are:
Environmental waste control and
recycling solutions
Check-up and diagnosis-focused field
projects
Training opportunities for young
people
Research projects or corporate supports to
projects
Satellite or portable rural area
clinics
Awareness and training programmes
Identification and selection of suppliers through CSR programmes
Improving the quality of management, service, etc.
The healthcare business sector should be
the perfect example of responsible business and should lead people and
other industry sectors to invest in society.
At the very least, the healthcare sector should
underscore its role as a "good corporate citizen" by actively
engaging in education and research, environment, social
needs, sports, and culture in order to promote and nurture leadership
qualities and skills that will help achieve sustainable development for our world.
About the author:
Dr. Fatih Mehmet GUL is working for
Abdul Latif Jameel (Middle East Toyota & Lexus) CSR projects (Saudi
Arabia) as the
International Affairs Coordinator. He holds a MBA and MD degree
and has
project development and administration experiences from UN, EU and other
international projects. He is currently the official Ambassador of Netimpact
for the Middle East Region and is also a member of the Middle East Chamber's CSR
Working Group. E-mail: drfameg@drfameg.com
Web site: www.drfameg.com
|
|
