Thursday, 04 July

Prof. Amoako urges corporate entities to use their CSR to contribute to SDGs attainment

Business
Professor George Kofi Amoako

Professor George Kofi Amoako, a renowned marketing guru and consultant has sounded a clarion call for Corporate Entities, Public Sector Agencies(PSA), and Multinational Enterprises(MNEs) to use their Corporate Social Responsibility(CSR) dimensions to contribute significantly to the advancement of the 2030 Agenda for Sustainable Development, adopted by all members of the United Nations in 2015.

According to Prof Amoako, most companies are implementing CSR and Corporate Social Investment(CSI) activities without paying any significant attention to the protection and preservation of the Environment, and the Sustainable Development Goals.

This, he said has created a huge gap that demands the attention of all stakeholders in the corporate world, industries, professional bodies and academia.

Prof. Amoako stated that, if multi-national enterprises and Public Sector Agencies (PSA) do not align their respective CSR and CSI activities it would be extremely difficult to achieve all 17 World Sustainable Development Goals by the deadline of 2030. Prof. Amoako recently led a team of renowned researchers from April 2023 to May 2024 to conduct a research into Corporate Social Responsibility and brand performance in Ghana with a sample size of 1106. The findings of the research or the results from the data collected from 1106 distributing, wholesaling, retailing and vending firms involved in telecommunications activities in Ghana revealed that brand knowledge positively impacts organizational brand value.

Further, Environmental Corporate Social Responsibility and Ethical Corporate Social Responsibility were positively related to brand knowledge and brand loyalty. Also, CSR was positively related to brand knowledge and organizational brand value.

The research was very helpful in understanding how CSR dimensions significantly affect brand performance across multiple industries.

In line with this, Prof Amoako urges Corporate Ghana to offer cutting-edge training programmes for their employees on CSR and CSI so that they would be well informed, thereby utilizing their acquired skills and knowledge to help the respective institutions and corporate entities to re-align their Corporate Social Responsibility(CSR) activities or Corporate Social Investments to be in tandem with the Sustainable Development Goals.

According to Professor Amoako, if all Corporate Entities, Public Sector Agencies and Multinational Enterprises are able to utilize fully the CSR dimensions, they would greatly enhance their brand performance, attract and retain more customers/consumers, and improve their revenue generation capabilities while the same time help society to preserve and protect the environment.

Source: Classfmonline.com/Cecil Mensah