News in the World - CITI Group Example Brief

With its beneficiaries are of an enduring nature or

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with its beneficiaries are of an enduring nature, or, at the very least, that the donations or CSR sponsorship are self-sustaining. Moreover, there is no indication that any of Citi’s CSR initiatives provide any kind of strategic value to the corporation—unless one considers the preservation/enhancement of image to be a strategic objective. The recipients of Citi’s CSR largesse are, by and large, eclectic, heterogeneous groups, which have little direct impact on the company’s operations. Thus, Citi’s CSR is clearly responsive, which shows good corporate citizenship; however, as Michael Porter states in his discussion of CSR, adopting a strategic CSR model involves moving beyond good corporate citizenship and mitigating harmful value chain impacts. Strategic CSR also involves directly involving the corporation in the rehabilitation of society by contributing to the factors that enhance productivity while providing benefits to the 3 Cassidy, John. “What Good is Wall Street.” New Yorker (Condé Nast), November 2011: 28. 4 Citigroup Corporate Citizenship. (2011), (accessed January 28, 2012).
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Research Brief on CSR: Citigroup Sauder Social Responsibility Project Marie Claude de la Bourgogne Page 3 of 5 corporation and the recipients of the CSR. 5 Toward this end, Citi needs to focus on developing more lasting relationships with the recipients of its CSR, who will also contribute, in turn, to economic growth in the US. One Brick at a Time A Response to Economic Devastation One Brick at a Time is newly formed NGO in response to the recent upheavals and dislocations that have befallen large sectors of the American working class. The NGO is the brainchild of two highly successful software entrepreneurs who have long worked for social causes, while still actively engaging in their lucrative software business ventures. Headquartered in San Francisco, the organization has grown by leaps and bounds, in step with the deteriorating economic, and in particular, housing situation of the many one-time homeowners displaced by the financial subprime mortgage calamity. The NGO focuses on helping those most affected by the subprime mortgage fiasco, the vast majority of whom either lost their homes to foreclosure or are in deep financial distress. Many of the most materially affected are children who no longer have a fixed place to call home, because they now live in motels, temporary shelters, or with relatives. One Brick at a Time seeks to help these families find suitable, permanent homes, and also more permanent work One Brick at a Time receives the majority of its funding from government and corporate (philanthropic) sources, principally from large corporations and investors in the IT sector of Silicon Valley. The NGO strives to give displaced erstwhile homeowners the material and financial resources to get back on their feet, either by providing extremely low interest (or
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  • Summer '13
  • cm
  • Corporate social responsibility, Citigroup, Social Responsibility Project

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