A good business and organization is not only run with merely profitability in mind, but also takes the corporate responsibility (CR) at heart.
Corporate responsibility refers to an effort to make one’s company responsible to contribute back to society. A good approach in CR will improve the company’s branding and reputation, increase the employee motivation level, and boost the company’s overall performance.
Recently, 7 companies which make CR their practice were honored in the Malaysia Corporate Responsibility Awards 2008. They are Nestle, TM (Telekom Malaysia), CCM (Chemical Company of Malaysia), KPJ Healthcare, Opus Group, Faber Group and Tex Cycle Technology.
The award is divided into 2 main categories. First, companies with market capitalization of RM1 billion and above, and secondly those with below RM1 billion capitalization. Nestle, TM and CCM belong to the former. They bagged the honor in their respective categories – marketplace and community category, workplace category and environment.
The award and event was a collaboration between Star Publications and the Institute of Corporate Responsibility Malaysia (ICRM). The Association of Chartered Certified Accountants (ACCA), PricewaterhouseCoopers (PwC), Securities Commission and Bursa Malaysia were the in the working committee, with their representatives elected as the judges.
The Malaysia Corporate Responsibility Awards 2008 was the first of its kind and may be made an annual event.