Why Corporate Social Responsibility Matters
Why CSR matters
According to CEO of Net Impact, Liz Maw claims that CSR is becoming a lot more popular as forward-thinking companies embed sustainability into the core of their business operations to create shared value for business and society.
Maw makes the point that “Sustainability isn’t just important for people and the planet, but also is vital for business success. Communities are grappling with problems that are global in scope and structurally multifaceted — Ebola, persistent poverty, climate change. The business case for engaging in corporate social responsibility is clear and unmistakable.”
As the popularity of social responsibility increases among companies, big and small, it starts to pick up even more momentum as it’s obvious customers would rather support a company that is ethical. Not only does it attract customers but obviously at the root of the reason everyone chooses to market responsibly, it benefits the community in terms of it’s people or it’s environment (or both!) People can see how much it matters when they see change in a community and see that it really does help.
Corporate social responsibility is a really important ethical roll that every business needs not to turn a blind eye to as so many have in the past. Statistics show that 55% of consumers are willing to pay more for products from socially responsible companies, showing how passionate the community is about these topics.
Looking at into the minds of the businesses, one can see the importance for CSR, and how passionate the community is about it all and they’re responding. Statistics show that 93% of the world’s largest 250 companies now publish annual CSR reports now, that’s almost all of them! Also, last year, in total $17.8 billion is the amount that corporations gave to charities. Finally, 65% of Fortune 500 companies offer matching gift programs (prime example: TOM’s).
Examples of Corporate Social Responsibility
While many companies have listened to the people and new practice some form of social responsibility, some are making it a core of their operations:
- Ben and Jerry’s, for instance, uses only fair trade ingredients and has developed a sustainability program for dairy farms in its home state.
- Starbucks has created its C.A.F.E. Practices guidelines, which are designed to ensure the company sources sustainably grown and processed coffee by evaluating the economic, social and environmental aspects of coffee production.
- Tom’s Shoes, another notable example of a company with CSR at its core, donates one pair of shoes to a child in need for every pair a customer purchases.
Convert to CSR Wholeheartedly
Deciding to convert your company to one that has Social Responsibility at it’s core is truly a win-win situation. Your company will not only appeal to more customers, but you’ll make your community a better place, but in order to do so you need to convert to CSR wholeheartedly.
You need to practice what you preach, you cant just claim that you’re socially responsible, you need to prove it. Do good deeds, donate a percentage of your earnings, start a matching gift program, there are so many options. You can start off with something small like temporary percentage donation on a certain product until you come up with a more permanent plan in the long run.
The big mistake that a lot of companies make is that they don’t promote what they do to prove that they are socially responsible. They simply tell people that they are and that isn’t enough, people want backing to the claims so make it known. Blog about what you do for your community, Tweet it, Facebook it, get it out there!
Corporate social responsibility is truly a win win situation, get started now, and do it the right way because lets face it – It really does matter! (For you and your community)
Written on November 17th, 2016