Executives in Dubai opt for ethical businesses

Dubai: Executives in Dubai consider Corporate Social Responsibility (CSR) as a fundamental part of their business agenda, according to a study conducted by the Centre for Responsible Business (CRB), an initiative of the Dubai Chamber of Commerce and Industry.

The majority of executives rated ensuring health and safety issues in the workplace and the care for the environment as important issues.

Likewise ethical practices in the supply chain, the marketplace, ensuring employees' welfare, and donating to charity emerged as critical issues.

CSR can be considered a resource capable of generating higher order market value in Dubai, the study showed.

"With CSR, businesses can improve the social and economic status of various stakeholders involved while complying with all legal and economic requirements," said Anis Bin Brek, CRB researcher.

Higher productivity

He also said that higher productivity, more efficient processes, lower costs of compliance and new market opportunities can also arise from CSR.

Studies show that executives in Dubai believe that CSR helps increase their financial performance, enhance employees' commitment and improve their firm's reputation.

Brek said that the more a company is dedicated to taking care of its employees, the more likely it is that employees will commit to the company.

Although corporations in Dubai don't have mature and integrated CSR strategies and practices, they are preparing themselves to implement these practices, according to reports.