Developing a CSR model for Indonesian business
Opinion and Editorial - June 26, 2006 Daniel Lindgren, Jakarta Warren Buffet ones said "it takes 20 years to build a strong reputation and only five minutes to ruin it". If one is to believe one of the world's most successful business leaders there are two important messages in that statement. First, reputation, whilst very intangible, is a highly valuable asset that needs constant nurturing to develop. Secondly, the downside risk is very significant and means even a small mistake can potentially be very costly. The same applies to corporate reputation, a key corner stone of stakeholder management. Corporate reputation stems from the values shared in common by both the company and all its key stakeholders including the general public. It is built from evidence of behavior in which common values have manifested themselves. Companies therefore invest valuable resources on corporate social responsibility (CSR) activities in an effort to be perceived as good corporate citizen