Corporate Social Responsibilty Essay

2228 words - 9 pages

Corporate social responsibility is a process with the aim to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere who may also be considered as stakeholders.

Corporate Social Responsibility can also be defined as the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large

Importance of corporate ...view middle of the document...

If you’d like to support a local charity, why not let your staff vote for their favorite? It’s now common for businesses to allocate charity days where staffs get hands-on with their chosen charity, the effects going far further than monetary donation.
In uncertain financial times, employment rates are always an issue. Could your business offer part-time work or training to those in long-term employment, or students looking for their first work experience?
Finally, there’s the supply chain. Do you have a policy to purchase locally? With the internet opening up the world, it’s surprising how far away some suppliers are. Not only could sourcing locally boost the local economy, you’re helping the environment by avoiding unnecessary travel and consequent emissions.
It’s surprising when you break down your organization’s activities to see how many people are affected by it. It’s also clear that CSR isn’t a cynical marketing ploy for big businesses; there are tangible benefits to be had by all. The key is not to treat CSR as an ‘initiative’, but to simply view it as the way you do business. Applying CSR is just redefining aspects of what you’re already doing; it needn’t be exotic or costly. Instead, start small and gain momentum.
An easy way for your company to build its brand, reputation and public profile
Being socially responsible creates goodwill and a positive image for your brand. Trust and a good reputation are some of your company’s most valuable assets. In fact, without these, you wouldn’t even have a business. You can nurture these important assets by being socially responsible. It is however, crucial that you devise the right socially responsible program for your business. When used properly, it will open up a myriad of new relationships and opportunities. Not only will your success grow, but so will your company’s culture. It will become a culture which you, your staff and the wider community genuinely believe in.

Corporate Social Responsibility attracts and retains staff
Socially responsible companies report increased employee commitment, performance and job satisfaction. It is in us all to want to do ‘good’ (and perhaps be recognized for it). Our lives become meaningful when we realize our work has made a positive difference in some way. It makes all our striving worth it. By attracting, retaining and engaging staff, ‘doing good’ for others reduces your recruitment costs and improves work productivity. It’s just plain good all round

Customers are attracted to socially responsible companies
Branding your business as ‘socially responsible’ differentiates you from your competitors. Developing innovative products that are environmentally or socially responsible adds value and gives people a good reason to buy from you.

Corporate Social Responsibility attracts investors.
Investors and financiers are attracted to companies who are socially responsible. These decision-makers know this reflects good management and a positive...

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