Listen Up, Corporates: Working With Startups Is Not Your CSR Corporate social responsibility is an integral part of any company operating in today's conscious economy.
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Corporate social responsibility is an integral part of any company operating in today's conscious economy. While partnering with a startup may seem to larger companies to be a good part of a CSR plan, the benefits of collaboration are far greater than some people realize. The larger company gains several advantages by partnering with startups.
A Two-Fold Investment
Partnering with a startup is a two-fold investment: it will have an impact on your direct revenues, and it will have a positive impact on the people in your company.
As the startup employees begin to interact with different departments in your larger company, whether it be in procurement, financing, marketing, or any other department, they are educating your employees. Your employees will surely be educating those from the startup, as well, so it is a mutually beneficial arrangement.
Startups also bring new energy to any company that opts to collaborate with them. The spirit of innovation, the feeling of building something new, and the startup culture will all reinvigorate the members of your staff.
Market Research at a Discount
When you collaborate with the startup, you get to test different aspirational business models on a smaller scale.
You can try your pilot projects on a smaller scale via the startup that you have partnered with. Because you've already validated that your project is worthwhile, you can more quickly and confidently implement the project on a larger
scale.
Corporate social responsibility is extremely important in today's economy, but every large corporation should find some alternate social responsibility plan that doesn't include startups.
Partnering with startups isn't social responsibility. It is an investment in your own company.
This article was originally published on Dubai Startup Hub and has been reposted on Entrepreneur Middle East based on a mutual agreement between the websites.
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