Business Ethics’ list of the 100 Best Corporate Citizens showed these companies to have done better financially than all of the other companies in the S&P 500 Index (Clark, 2006). Thirty hospitality and travel brands listed in the Fortune Corporate Reputation Index were found to have a strong positive correlation between CSR and profitability. The same study also revealed that larger companies benefitted more from high CSR ratings (Brands that do Good, 2003), but smaller hotel chains and independent HOTELS may be able to implement environmental and social policies easier than the larger companies (Responsible Hospitality in Independent Hotels, 2005). While improvements in corporate citizenship result in strong financial performance, methods to measure the effects of CSR are still in the early stages of development (Roberts, 2007).
Business Ethics’ list of the 100 Best Corporate Citizens showed these companies to have done better financially than all of the other companies in the S&P 500 Index (Clark, 2006). Thirty hospitality and travel brands listed in the Fortune Corporate Reputation Index were found to have a strong positive correlation between CSR and profitability. The same study also revealed that larger companies benefitted more from high CSR ratings (Brands that do Good, 2003), but smaller hotel chains and independent HOTELS may be able to implement environmental and social policies easier than the larger companies (Responsible Hospitality in Independent Hotels, 2005). While improvements in corporate citizenship result in strong financial performance, methods to measure the effects of CSR are still in the early stages of development (Roberts, 2007).
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