Boost Your Business Via Social Responsibility

By Sebastian Troup

It may truly be challenging for companies these days to make changes in the business in order to shift to a more socially and environmentally responsible kind when doing more with less is often expected. However still many resolve to do "good" and be proud of it in the workplace as return on the investment becomes visible. In truth, social responsibility adds to the company's result thus cause the difference in the 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

Consumers basically choose to buy from businesses with social responsibility as revealed by research. Public relations and marketing firm Cone Communications and Echo Research in their study early this year revealed that about 90% of the shoppers are inclined to shift brands in support of a good cause even when price and quality is similar. If your business is not socially responsible you are more likely to lose customers. Still 90% of the surveyed customers are willing to stop supporting businesses with irresponsible practices.

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.

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