Don’t downsize CSR budgets during turmoil, says Harvard Business School professor

The Malcolm P. McNair Professor of Marketing at Harvard Business School, V Kasturi "Kash" Rangan says that CSR or Corpororate Social Responsibility budgets should not be downsized during turbulent times.

CSR means activities undertaken by businesses that enhance their value in the community and society and thus benefit their reputation and brand, according to the eminent scholar.

“CSR should be treated as a business discipline and practiced with the same professionalism and rigour as other aspects of a firm's strategy,” he says. “Good examples are the early childhood literacy initiative of PNC, a financial services organization based in Pittsburgh, and the 10,000 Women initiative of Goldman Sachs, which facilitates a business education for underserved women.”