They are paying attention to what your company supports, how you create your products and the impact you have on the environment. In fact, a Neilsen survey found that nearly two-thirds of global consumers are willing to pay more for sustainably made products. Customers want to know that their money is going toward something good.
Resources for this topic Corporate social responsibility CSR promotes a vision of business accountability to a wide range of stakeholders, besides shareholders and investors.
Key areas of concern are environmental protection and the wellbeing of employees, the community and civil society in general, both now and in the future. The concept of CSR is underpinned by the idea that corporations can no longer act as isolated economic entities operating in detachment from broader society.
Traditional views about competitiveness, survival and profitability are being swept away. Some of the drivers pushing business towards CSR include: The shrinking role of government In the past, governments have relied on legislation and regulation to deliver social and environmental objectives in the business sector.
Shrinking government resources, coupled with a distrust of regulations, has led to the exploration of voluntary and non-regulatory initiatives instead. Demands for greater disclosure There is a growing demand for corporate disclosure from stakeholders, including customers, suppliers, employees, communities, investors, and activist organizations.
Increased customer interest There is evidence that the ethical conduct of companies exerts a growing influence on the purchasing decisions of customers. In a recent survey by Environics Internationalmore than one in five consumers reported having either rewarded or punished companies based on their perceived social performance.
A separate survey by Environics International revealed that more than a quarter of share-owning Americans took into account ethical considerations when buying and selling stocks.
Competitive labour markets Employees are increasingly looking beyond paychecks and benefits, and seeking out employers whose philosophies and operating practices match their own principles. In order to hire and retain skilled employees, companies are being forced to improve working conditions.
Supplier relations As stakeholders are becoming increasingly interested in business affairs, many companies are taking steps to ensure that their partners conduct themselves in a socially responsible manner.
Some of the positive outcomes that can arise when businesses adopt a policy of social responsibility include:Jan 12, · Susan is a serial connector, passionate cause marketer and corporate responsibility expert.
She is founder and CEO of McPherson Strategies, a communications consultancy focusing on . May 18, · Corporate social responsibility is an important aspect of business. This article summarizes some of the successful CSR programs that are driving corporate success.
Corporate social responsibility (CSR) promotes a vision of business accountability to a wide range of stakeholders, besides shareholders and investors. Key areas of concern are environmental protection and the wellbeing of employees, the community and civil society in general, both now and in the future.
Social Responsibility. Social responsibility and business ethics are often regarding as the same concepts. However, the social responsibility movement is but one aspect of the overall discipline of business ethics.
Corporate social responsibility has been divided into four types that must be considered simultaneously, including ethical, legal, economic and philanthropic . Jan 12, · Susan is a serial connector, passionate cause marketer and corporate responsibility expert.
She is founder and CEO of McPherson Strategies, a communications consultancy focusing on .