Being a socially responsible company can bolster a company’s image and build its brand. Social responsibility
empowers employees to leverage the corporate resources at their disposal to do good
. Formal corporate social responsibility programs can boost employee morale and lead to greater productivity in the workforce.
- better brand recognition.
- positive business reputation.
- increased sales and customer loyalty.
- operational costs savings.
- better financial performance.
- greater ability to attract talent and retain staff.
- organisational growth.
- easier access to capital.
Corporate responsibility attracts more employees. … 66% of people surveyed in the Nielsen Global Survey of Corporate Social Responsibility prefer to
work for companies that prioritize corporate responsibility
. By embracing that, a corporation can attract the best employees and keep them, making the business stronger.
A CSR policy
improves company profitability and value
. The introduction of energy efficiencies and waste recycling cuts operational costs and benefits the environment. CSR also increases company accountability and its transparency with investment analysts and the media, shareholders and local communities.
Social responsibility is a means of
achieving sustainability
. Adopting key social responsibility principles, such as accountability and transparency, can help ensure the long-term viability and success of any organization or system.
Do businesses have responsibility to contribute to the community?
Do companies have a responsibility to their communities? The resounding answer is
yes
! … The decisions a company makes impact their employees, customers and vendors, all of whom are part of the communities they serve.
In order to show social responsibility, small
businesses can become actively involved in community service activities
. … Companies could also offer incentives to employees who participate in a certain amount of community service or even require a set amount of hours to be completed by employees.
- Engaged employees. …
- Loyal customers. …
- Positive public attention.
Social Responsibility is a crucial part of business ethics. A
responsible organisation considers and recognises the impact that its decisions and activities impact on society and the environment
; and behaves in a manner that positively contributes to the sustainable development, health and welfare of society.
- Reducing carbon footprints.
- Improving labor policies.
- Participating in fairtrade.
- Diversity, equity and inclusion.
- Charitable global giving.
- Community and virtual volunteering.
- Corporate policies that benefit the environment.
- Socially and environmentally conscious investments.
- Increased employee satisfaction. The way a company treats its community says a lot about how a company treats its employees. …
- Improved public image. …
- Increased customer loyalty. …
- Increased creativity.
Arguments against corporate social responsibility (CSR)
Businesses are owned by their shareholders – money spent on CSR by managers is theft of the rightful property of the owners. The companies that
focus most on CSR are not successful businesses in the marketplace
.
Social responsibility is an ethical theory in which
individuals are accountable for fulfilling their civic duty
, and the actions of an individual must benefit the whole of society. In this way, there must be a balance between economic growth and the welfare of society and the environment.
Socially responsible actions that ordinary people can take include:
Volunteering
.
Supporting socially responsible companies through informed spending
.
Conserving energy by carpooling or turning off unnecessary houselights
.
Why is it important to be a responsible person?
Each step we take towards being responsible and productive helps to raise our self-esteem and our relationships with friends, family and co-workers improve ten-fold. Being responsible
pays big dividends
– we have much less stress and chaos in our lives and we gain the respect of others.
CSR programmes provide
an opportunity for corporations and companies to positively engage with communities across all levels of society
. CSR not only benefits communities. It also provides businesses with new and varied opportunities and can often be of mutual benefit for both businesses and the community.
