in the short-term, because so-called ethical funds privilege companies that apply corporate governance and social values.

The shortage of national programs to promote CSR may be due to the absence of effective leadership to define them, as there are plenty of public and private sector entities working on CSR issues that could be used as the initial foundation. National programs should deploy tools developed at the international level and focus on consider small and medium-sized enterprises (SMEs) as a priority, since they represent the largest percentage of the countrys productive units. Its clear that integrating CSR more extensively in the DR will benefit companies bottom lines, and of course it is the top responsibility of any firm to deliver and sustain shareholder value. CSRrelated policies, processes and reporting will only enhance good governance, business ethics, human capital management, supply chain management, environmental health and safety and community engagement. How and where to start? Adopting CSR is actually simpler than you think. It starts with an effort to see that your employees and surrounding communities are your primary stakeholders. Then your options are unlimited, whether you choose to reach out through culture, sports, education, environment, health or try a less-traditional approach, such as sponsoring self-sustainable pilot projects managed by specific communitiesperhaps in line with your particular business focus. For example, tobacco companies might sponsor the development of local tobacco cooperatives. For-profit organizations lacking the staff to focus on social issues that may require time and manpower can join forces with entities already set up to support non-profit organizations, such as foundations and other NGOs managing social projects in a more costefficient manner. For example, CSR program guidelines established by the non-profit American Chamber of Commerce for the Dominican Republic (AMCHAMDR) seek to develop individuals competitiveness so that they can par-

CORPORATE SOCIAL RESPONSABILITY IN LATIN AMERICA Regional Medians % Agree % Disagree % Dont know / Refused

49 37 32

46 36

45 35 21

45

18

17

20

Invest in the development of their employees

Give opportunities for advancement to any employee who is qualified, regardless of their race, social origin, or gender

Make contributions and donations in areas that are fundamental for the communities where they operate

Are truly committed to making a positive impact on consumers quality of life

INCLUDES 2008 DATA FROM ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLOMBIA, COSTA RICA, DOMINICAN REPUBLIC, ECUADOR, EL SALVADOR, GUATEMALA, HAITI, HONDURAS, MEXICO, NICARAGUA, PANAMA, PARAGUAY, PERU, TRINIDAD AND TOBAGO, URUGUAY, AND VENEZUELA

ticipate more effectively in the global marketplace. The idea is to focus on areas of the economy that are critical for national development and evolution of the private sectorand which currently represent obstacles. Therefore, the programs focus is on basic/elementary education and community development, with environmental issues cutting across all programs. A sound CSR strategy needs to approach a companys policies both from within and externally. Internally, its critical to get the support and participation of as many high-profile executives as possible and to identify and engage anyone who is especially passionate about CSR role in the business. Externally, your CSR strategy is basically the positioning document for responsible business practices. A consultant can shed light on the exact content of such a positioning document, offering support on issues such as implementing a CSR management system, CSR reporting, stakeholder engagement and communication.

In the DR, companies such as Global Reporting Initiative (GRI) can help you assess your CSR Strategy and make sure it in line with local realities. Youll also need to identify national and multilateral agencies offering support to firms with CSR initiatives who are working in emerging countries. These include FUNGLODE and its sister institution in the U.S., Global Foundation for Democracy and Development (GFDD), the Inter-American Development Bank (IADB), and the UN Development Program (UNDP). Companies with a strong CSR focus are companies which make a contribution to a strong, solidarity-based, vital society, and promote an environment in which they can do business successfully.

(1) According to The World Factbook CIA - updated May 27, 2010 (2) Olivares, Mirtha, Responsablidad Social Empresarial en la Repblica Dominicana, Alianza ONG-W. K. Kellogg Foundation, 2008.

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