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.
To adhere to the ethical and legal standards beyond the company's operations is what defines CSR or Corporate Social Responsibility. Herein you need to promote and support causes locally, nationally and even globally. Corporate philanthropy is a means by which this is achieved such as company donations to charitable causes.
You can enjoy the competitive advantages through your giving program that is well-designed and executed well and these are:
Improving Recollection of the Company's Name Improving Brand Recognition Garnering Higher Sales & Increasing Customer Feedback Increasing Retention of High Quality Employees Improving the Conditions in your 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.
This study is just the latest that shows companies should care about social responsibility because their customers do. It's no longer enough just to sell a good product or service. Consumers are expecting more from businesses, including real, meaningful social impact. It appears business owners are listening to these demands. Rather than tacking philanthropy onto the Public Relations department as an afterthought, more companies are trying to integrate corporate social responsibility throughout all of their operations. That commitment is showing through in the kind of jobs provided, kinds of products made, and the ways in which resources are used.
Companies are no longer looking at CSR as a marketing move, but rather as a long-term investment. For example, the Coca-Cola Company's 520 program aims to bring five million women in the developing world into its business as local bottlers and distributors of Coca-Cola products by 2020. This investment to empower young women entrepreneurs will obviously generate more revenue for Coca-Cola because they will have more bottlers and can sell more products. But at the same time, this type of investment will undoubtedly lead to better-educated people and eventually, more prosperous communities in areas that need help.
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.
To adhere to the ethical and legal standards beyond the company's operations is what defines CSR or Corporate Social Responsibility. Herein you need to promote and support causes locally, nationally and even globally. Corporate philanthropy is a means by which this is achieved such as company donations to charitable causes.
You can enjoy the competitive advantages through your giving program that is well-designed and executed well and these are:
Improving Recollection of the Company's Name Improving Brand Recognition Garnering Higher Sales & Increasing Customer Feedback Increasing Retention of High Quality Employees Improving the Conditions in your 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.
This study is just the latest that shows companies should care about social responsibility because their customers do. It's no longer enough just to sell a good product or service. Consumers are expecting more from businesses, including real, meaningful social impact. It appears business owners are listening to these demands. Rather than tacking philanthropy onto the Public Relations department as an afterthought, more companies are trying to integrate corporate social responsibility throughout all of their operations. That commitment is showing through in the kind of jobs provided, kinds of products made, and the ways in which resources are used.
Companies are no longer looking at CSR as a marketing move, but rather as a long-term investment. For example, the Coca-Cola Company's 520 program aims to bring five million women in the developing world into its business as local bottlers and distributors of Coca-Cola products by 2020. This investment to empower young women entrepreneurs will obviously generate more revenue for Coca-Cola because they will have more bottlers and can sell more products. But at the same time, this type of investment will undoubtedly lead to better-educated people and eventually, more prosperous communities in areas that need help.
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 writing about philanthropic solutions for businesses and non profit organizations. For more info about corporate social responsibility benefits, or to find help setting up employee volunteer programs, please go to the Truist website today.
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