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Corporate Social Responsibility
Some of the drivers pushing business towards CSR include: The shrinking role of government; Demands for greater disclosure; Increased customer interest; Growing investor pressure; Competitive labour markets; Supplier relations. Talking about benefits. Some of the positive outcomes that can arise when businesses adopt a policy of social responsibility include:
1. Company benefits: Improved financial performance; Lower operating costs; Enhanced brand image and reputation; Increased sales and customer loyalty; Greater productivity and quality; More ability to attract and retain employees; Reduced regulatory oversight; Access to capital; Workforce diversity; Product safety and decreased liability.
2. Benefits to the community and the general public: Charitable contributions; Employee volunteer programmes; Corporate involvement in community education, employment and homelessness programmes; Product safety and quality.
3. Environmental benefits: Greater material recyclability; Better product durability and functionality; Greater use of renewable resources; Integration of environmental management tools
into business plans, including life-cycle assessment and costing, environmental management standards, and eco-labelling. [6, 7.]
In conclusion, corporate social responsibility is about understanding your business' impact on the wider world and considering how you can use this impact in a positive way. To invest a CSR programmes in any business are not cheap and it is not for sure that the impact you invested on CSR will come back to your company, also it takes long time to make CSR work good in your company. CSR is very important to the sociaty, environment and business.
- Corporate Social Responsibility
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