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Essay / The importance of corporate social responsibility programs for football clubs
There are many different clubs that engage in corporate social responsibility (CSR) programs, such as Manchester City, Chelsea and FC Barcelona. Indeed, football clubs are now seen as important businesses that have a direct impact on key stakeholders such as shareholders, government, the local community and supporters (customers). Say no to plagiarism. Get a tailor-made essay on “Why violent video games should not be banned”?Get an original essayBy having a strong CSR program, football clubs can help differentiate themselves from other clubs and create a better image brand. This is important because branding will reflect how fans perceive a club. As if the club remains committed to the CSR program(s), it will help build a positive brand which will be reflected in the fans' perception. This will lead to significant benefits in the long term, whereas if the club decides not to engage in CSR, supporters will start to take notice and have a negative image of the club. This has significant consequences, as fans could turn away from the club, leading to lower ticket and merchandise sales, leading to lower revenue. Therefore, fans might also start boycotting and protesting against the club, which could permanently endanger the club's brand image. This will have serious implications for stakeholders such as the government and shareholders, as lower revenues will likely lead to lower corporate taxes and dividends. One example is Chelsea FC, who raised £1 million to support charity and helped develop the 'KICKZ' program which helps target young children in deprived areas to end racism and crime knife and give them the opportunity to play football and participate in educational workshops. This event received strong positive publicity and enabled Chelsea in 2008 to become the first team in the world to have the largest number of CSR programs in England. Another example is that of FC Barcelona which donates 1.5 million euros every year to the UNICEF charity which helps fight HIV and AIDS around the world. In addition to benefiting from a positive brand image, FC Barcelona has also increased its fan base across the world to reach 349 million fans. This additional fan base can help lead to increased revenue and sales from ticket prices and merchandise sales. Therefore, significant incentives have led clubs to engage more in CSR programs. Manchester City (MC) can reap many benefits from its CSR programs. One example is their regeneration project, which involves creating a wind turbine to help produce renewable energy. This will be used to power the stadium and help MC become more energy efficient. This is an important benefit because the long-term benefits of cost savings, such as electricity costs, will outweigh the short-term investment costs. Another benefit of the wind turbine project is that it will also allow MC to export 25% of the energy it produces; this can help MC earn additional income through the sale of this surplus energy. Since this will lead them to be environmentally friendly, there could be an opportunity to benefit from tax incentives. This will be a significant advantage because they will have.