There are questions that people ask about the route a company should take in order to be successful. The main question is, what does it mean to be successful? Is it always about the money? Configuring a company’s operations of benefiting the community may bring out the answer.
Corporate Social Responsibility has become a huge impact on the image companies portray. One way to look at this would be future investments. I’m not only talking about assets we may gain, but also maintaining a healthy environment we all wish to live in. There are so many products and services that emit toxic chemicals that damage the planet we live in. Now if you don’t support or care about the health of our planet, I’m sure you care about the reputation of the company you work for. In today’s society, consumers prefer to purchase green products and services over others. From my own experience, when I saw two identical products where one promoted “going green”, you can bet I chose the product that supports the health of our environment. Choosing the “going green” route will label your company in the ecofriendly category that will support its marketing campaign.
Addition to helping our planet, Corporate Social Responsibility improves businesses’ public relations. As mentioned, consumers prefer products that do not harm our environment. Representing an ecofriendly company can also have an opportunity to connect with potential suppliers. Going green includes conserving energy and using recycled products. These acts will reduce costs of businesses and attract suppliers. Think yourself as a supplier. Would you rather partner with a business with low costs and responsible actions, or one that does not have these attributes? I don’t think I need a response.
Let’s get into the most desirable component that derives from Corporate Social Responsibility. Profit. To put it out there, thousands of businesses are profitable who aren’t socially responsible. They may even be more profitable than businesses that are socially responsible. However, looking at a long-term perspective, businesses that are socially responsible are more likely to stay profitable. There are numerous options of cost savings such as recycling and reducing energy consumption. Maintaining an appropriate level of social responsibility will look more appealing to the community, allowing businesses to expand.
Benefiting both the consumer and the supplier will result in a successful company and a happier community. I personally took a class on Corporate Social Responsibility where I learned how much of an impact this trait could do for a business. The best method for a business to succeed and maximize their revenue is to benefit the community and establish a reputation. Taking these steps will open new opportunities and accomplish the desired goals. With this in mind, LET’S GO GREEN!
Do you believe that Corporate Social Responsibility can determine how well a business will operate?
Other than “going green” what other ways do you believe Corporate Social Responsibility can be portrayed?
What do you think is the most important aspect of Corporate Social Responsibility? Is it the reputation of a business or actually improving our environment?
Sources:
http://smallbusiness.chron.com/benefits-going-green-business-3225.html
I am currently taking a business ethics class, and corporate social responsibility is something that we continue to discuss. Going of that, I do believe that corporate social responsibility determines how a business will operate, especially in a day and age where consumers are increasingly more concerned with ethical business prospects and eco-friendly businesses. To answer your second question, I will provide an example of a company that is profitable while also going green: Ben and Jerry’s. Ben and Jerry’s implements a triple bottom line approach, where profit, ethical decision making, and the environment are the three driving factors to make the company successful. I also think that the most important aspect of social responsibility is the accountability of being responsible and improving the environment.
This is important because corporate social responsibility is a topic that I believe will become more important to society in the future as the earth’s resources keep depleting as our population grows. It is a blurry line for what is green, as resources for products are always being used that are not that green like using nuclear power and dumping off waste products. The alternatives energy sources are also sometimes very dangerous like solar panels that can literally fry birds in the sky or water dams that can destroy the surrounding area if it breaks. It makes it also difficult, when people believe that being green is a problem that you can push off to the next generation to solve while they ignore being green presently. In that case, one can only hope that people can understand the damage they cause when they make a choice that affects the world.
Great post. I do think corporate responsibility can determine if a business will operate well. Today, a lot of stakeholders hold companies to how they are acting. If we look at the BP oil spill, people were outraged at how BP failed to act. I agree with you, that in the long run, companies acting socially responsible will stay profitable. Another way corporate responsibility can be portrayed is how a company treats its workers, making sure workers have safe working conditions, job training, and even health care. If we look at companies that have outsourced their operations, people are calling for these companies to act more responsible to their workers. For instance, providing higher pay, safer working conditions, etc. I think if a company wants to be able to compete in today’s market and stay profitable in the long run, they have to be socially responsible.