Often considered a way of solving the world’s problems, Corporate Social Responsibility (CSR) is, in a fact, a way for companies to benefit themselves while also benefiting society.
Here are the six business reasons why companies should embrace Corporate Social Responsibility:
- Innovation: Using the “lens of sustainability” enables innovation on new products, for instance using less water.
- Cost savings: Whether it’s using less packaging or less energy, these savings add up quickly for increased profitability.
- Brand differentiation: In the past, brand differentiation was one of the primary reasons companies embraced CSR. It’s a way to find your voice and incorporate the company’s values into your business model.
- Long-term thinking: It’s an effort to look at the company’s long-term interest and ensuring that the company’s future is sustainable. Today’s business decisions have an impact on financial (and social) results ten years from now.
- Customer engagement: Using CSR can help you engage with your customers in new ways. Since the message is about something “good,” it can often be an easier way to talk to your customers.
- Employee engagement: Employees, especially of younger generations, are now more often looking for meaning. Involving employees is a great opportunity to help create strategies for sustainability.
Corporate Social Responsibility is not going to solve the world’s problems. But it certainly does start to move the needle toward a better economy, toward an economy much closer to one in which we would like to conduct business.
Following are some of our CSR creations:
