Focusing on safety rather than social values

I read a thought-provoking letter in today’s FT suggesting that if BP had focused as much on safety as they have on describing their social conscience and non-business values then perhaps the tragedy may not have happened. The gaming industry is doing a lot to build progressive CSR policies and practices. But I do wonder whether the ‘greenwash effect’ is putting the industry under too much pressure to report progress against a whole range of CSR indicators and targets which, although important, take emphasis away from the more relevant externalities associated with the industry? Here’s the link to the letter.

The joys and perils of a near miss

There is a very interesting article in the Economist on the thrill of almost winning. We can analyse a player’s game play and make accurate assumptions about whether they are showing signs of problem gambling. But analysing their near misses takes this approach to the next level...

A good name is beyond price

The FT’s and BITC’s 2010 Responsible Business Report shows progress being made by businesses to deliver a positive impact in communities whilst growing profits (although little surprise to see BP was not in the frame this year...). Whilst it was encouraging to see Camelot and BSkyB on the list, the challenge for the gaming industry is to increase its profile and visibility to ensure more companies make the cut for 2011. Simo is about to kick-start some leading edge research into CSR in the gaming industry this year with City University’s Cass Business School. Watch this space...

Doing Well By Doing Good

I came across Sexton the other day, a firm that works with companies to help them find the most marketable ways to advertise their socially conscious initiatives. A cynical person would say that this is another flavour of greenwashing. To me, helping companies to find ways to better connect with customers and communities, and then using this to differentiate their brand, sounds like a pretty good idea.

Transparency and player loyalty. A missed opportunity?

The dynamically changing gambling industry is posing gaming operators with both challenges and opportunities to creating competitive advantage. Technology is driving increasing demands from customers as gaming operators become more sophisticated and accessible. Player management is becoming increasingly important in terms of generating revenue and preserving player loyalty. The players' experience must become easier, more mobile and uphold responsible gaming standards. Responsible gaming is increasingly coming to the forefront of the industry and regulators will require operators to meet higher standards in the future.

But aren't operators already doing enough? At Bet Buddy we believe they need to take transparency and player loyalty to the next level. Why? Because the relationship between society and corporations is changing. Customer service, the environment and corporate ethics are at the forefront of the publics' mind. Customer service charters, corporate social responsibility reports and environmental policies will not be enough in the future. Trust in business is a brand differentiator. The Edelman Trust Barometer 2010 reported that "a company I trust is the top driver of corporate reputation in the UK". And McKinsey research states that "company CFOs largely agree that environmental and social programmes will create value over the long term for corporates".

At Bet Buddy we believe gambling operators need to place greater emphasis on being profitable whilst also protecting players. Responsible gaming is increasingly relevant to operators' players, authorities and society. It is a critical element of operators' strategies and could become a missed opportunity...