Corporate Social Responsibility: Benefitting Businesses, Communities and the Environment

Corporate Social Responsibility (CSR) is fast becoming the norm as opposed to the exception in many European countries. Furthermore, for businesses that have not yet developed some form of social self-regulation, the period preceding the Rio +20 summit should offer the inspiration and the time to develop corporate social responsibility strategies. Corporate social responsibility should be at the very core of business operations, as companies rely on both people and the natural world for survival. This article examines the concept of corporate social responsibility and highlights why every business should take steps towards integrating socially and environmentally responsible practices and initiatives into their business model. 

What is Corporate Social Responsibility?

It is necessary to first define corporate social responsibility as the term has been used loosely to describe one-off actions or donations undertaken by businesses, which is often in the aid of damage control as opposed to a real concern for the public or the environment. Corporate social responsibility is the self-regulation that a company adopts and integrates into its entire business model, affecting operations. It acts as a built-in mechanism where the business monitors its own activities and ensures that these actions comply with not only the law, but also moral and ethical standards as well as international agreements and understandings. The philosophy is that companies should not only exist as profit churning machines but instead exists as organisations whose actions have a positive impact on consumers, employees, stakeholders, the community and the environment and its inhabitants. In essence, a company needs to contribute not consume and develop business relationships with those who think likewise.

Benefits of Corporate Social Responsibility to Businesses

Practicing corporate social responsibility also brings benefits to businesses, and will continue to do so as more and more companies develop strategies. First of all, it is becoming increasingly important to build a reputation on socially responsible policies. First of all, many businesses and customers not only prefer to but insist on dealing with businesses who demonstrate responsible strategies. Furthermore, good ethics and corporate social responsibility help to develop a positive brand identity with customers and clients. Environmentally friendly policies if executed correctly also save money; reducing electricity and water usage and recycling waste is energy and cost effective. A company with a good reputation also attracts the most talented and skilled individuals and retains them for longer. Furthermore, employees who are satisfied that their work positively contributes to their community and environment will have a higher job satisfaction than those who don’t, leading to increased motivation and productivity. Finally, good public relations will automatically follow  a company that is making valuable social and environmental contributions. Corporate social responsibility reports often receive good press coverage.

About The Author
Penny Munroe is an avid writer in business relates news from around the world. Topics range from sourcing serviced offices Singapore has to relocting to a serviced office China offers.



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Oracle Apps Guy: Corporate Social Responsibility: Benefitting Businesses, Communities and the Environment
Corporate Social Responsibility: Benefitting Businesses, Communities and the Environment
Oracle Apps Guy
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