In a time where companies are being asked to do more with less, it can be challenging to implement changes in your business that make the shift to social and environmental responsibility. But more businesses are making those changes to do good and take pride in their workplaces, and they are seeing the return on their investment as a result. The bottom line is that social responsibility can increase your company's bottom line while making a difference in your community.
Corporate social responsibility (CSR) can be defined as adhering to ethical and legal standards across a company's operations. That includes promoting and supporting local, national and global causes. That's typically achieved through corporate philanthropy, where businesses donate some of their profits or resources to charitable causes.
You can enjoy the competitive advantages through your giving program that is well-designed and executed well and these are:
Better Recognition of Company Name Increase in Brand Recognition Higher Sales and Constructive Customer Response Talented Employees to be Gained and Retained to Work for the Company Positively Affects the Living Conditions of the Community
Most consumers buy according to the corporate social responsibilities as indicated by studies. Early this year Cone Communications and Echo Research being public relations and marketing firms conducted a study which resulted to 90% of surveyed consumers likely to change brands given similar price and quality to the one with a good cause. Businesses without social responsibility responses therefore lose customers. About 90% of the customers would boycott those businesses found practicing irresponsibly.
What this study is about is the latest rousing of social responsibility within companies as customers care about it. It won't be enough to just sell products or services. Businesses making social impact attract more customers. It is no longer up to the Public Relations department to act upon but social responsibility has now been integrated fully into the operations. Proof of this is in the way jobs are being offered, how products are being made and the use of the resources.
You see, CSR these days are looked at by companies as long-term investment rather than mere marketing moves. Coca-Cola in its 5 x 20 program presents a clear example where it aims to give opportunities to five million women in the developing world to become local bottlers and distributors of Coca-Cola products by 2020. These young women entrepreneurs are being empowered to act as investments as they can generate more sales after gaining them as additional bottlers capable of selling more products. This move will also cause better-educated people to become apparent and eventually turn communities in need of help into more prosperous ones.
Some companies view CSR as their passport to savings. Take energy efficiency as a good illustration. With Wal-Mart's social responsibility policy, they aim to achieve three goals: that ability to gain a good supply of renewable energy, to establish zero waste, and to market no less than products which are sustaining to people and the environment. Though quite lofty, these goals will definitely help the company save money.
Corporate social responsibility (CSR) can be defined as adhering to ethical and legal standards across a company's operations. That includes promoting and supporting local, national and global causes. That's typically achieved through corporate philanthropy, where businesses donate some of their profits or resources to charitable causes.
You can enjoy the competitive advantages through your giving program that is well-designed and executed well and these are:
Better Recognition of Company Name Increase in Brand Recognition Higher Sales and Constructive Customer Response Talented Employees to be Gained and Retained to Work for the Company Positively Affects the Living Conditions of the Community
Most consumers buy according to the corporate social responsibilities as indicated by studies. Early this year Cone Communications and Echo Research being public relations and marketing firms conducted a study which resulted to 90% of surveyed consumers likely to change brands given similar price and quality to the one with a good cause. Businesses without social responsibility responses therefore lose customers. About 90% of the customers would boycott those businesses found practicing irresponsibly.
What this study is about is the latest rousing of social responsibility within companies as customers care about it. It won't be enough to just sell products or services. Businesses making social impact attract more customers. It is no longer up to the Public Relations department to act upon but social responsibility has now been integrated fully into the operations. Proof of this is in the way jobs are being offered, how products are being made and the use of the resources.
You see, CSR these days are looked at by companies as long-term investment rather than mere marketing moves. Coca-Cola in its 5 x 20 program presents a clear example where it aims to give opportunities to five million women in the developing world to become local bottlers and distributors of Coca-Cola products by 2020. These young women entrepreneurs are being empowered to act as investments as they can generate more sales after gaining them as additional bottlers capable of selling more products. This move will also cause better-educated people to become apparent and eventually turn communities in need of help into more prosperous ones.
Some companies view CSR as their passport to savings. Take energy efficiency as a good illustration. With Wal-Mart's social responsibility policy, they aim to achieve three goals: that ability to gain a good supply of renewable energy, to establish zero waste, and to market no less than products which are sustaining to people and the environment. Though quite lofty, these goals will definitely help the company save money.
About the Author:
Sebastian Troup loves blogging about philanthropic solutions for businesses and non profit organizations. To get more information about corporate social responsibility benefits, or to find help setting up employee volunteer programs, please check out the Truist.com website today.
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