Corporate Social Responsibility

Why Corporate Social Responsibility (CSR) is Important for a Business?

If you are a entrepreneur, the days of operating solely for profit are gone. Whilst this is obviously still important, many business now focus largely on corporate social responsibility.

"Corporate Social Responsibilities (CSR) is when a company operates in a ethical and sustainable way and deals with its environment and social impacts. This means a careful consideration of human rights, the community, environment, and society in which it operates."

It's incredible important that your business operates in a way that demonstrate social responsibility. Although it's not legal requirement, it's seen as best practice for you to take into account social and environmental issues.  

Social responsibility and ethical practices are vital to your success. The 2015 cone communication global CSR study found that a staggering 91% of global consumers expect businesses to operate responsibly to address social and environment issues.. Furthermore, 84% say they seek out responsible products wherever possible.

As the above lines shows, Consumers are increasingly aware of the importance of social responsibility, and actively seek product from businesses that operate ethically. CSR demonstrates that you are a business that takes an interest in wider social problem, rather than just those that impact your profit margins, which will attract consumer who share the same values Therefore, it makes good business sense to operate sustainably.

Benefits of CSR for Bussiness

Some clear benefits of corporate social responsibility are:

1. This is important, as customer assess your public image when deciding whether to buy from you. Something simple, like staff members volunteering an hour a week at a charity, shows that you’re a brand committed to helping others. 

2.If you’re committed to ethical practices, this news will spread. More people will therefore hear about your brand, which creates an increased brand awareness.

3.Many simple changes in favor of sustainability, such as using less packaging, will help to decrease your production costs.

4.If you’re using sustainable systems, you should shout it from the rooftops. Post it on your social media channels and create a story out of your efforts. Furthermore, you should show your efforts to local media outlets in the hope they’ll give it some coverage. Customers will follow this and engage with your brand and operations.