CSR – or Corporate Social Responsibility – has become an over-used buzzword of the 21st century. But it matters.
So what is Corporate Social Responsibility and why should I care?
Your company may be in business to produce something or it may deliver a service. However, your product or service is not the only output your company creates.
Your company has an impact on both the natural and social environments – affecting their wellbeing and equilibrium.
The philosophy that CSR embraces is to find and maintain a balance of the pursuit of profit with a commitment to ethical conduct.
Some organisations have now adopted the concept of the “quadruple bottom line“: social, environmental and economic – or “Purpose, people, planet, profit.”
Even if you consider your company and its subsequent output to be small, your organisation – and the people that work there – are still part of the local community. You are neighbours, and a chance to support your neighbours should never be overlooked.
Feel-good factor aside, there are more motivators to creating a CSR strategy for your company.
Today’s consumers hold companies to a higher standard and they’re looking for more than just material products or quality services when choosing where to spend their money.
Nine in 10 consumers expect companies to not only make a profit, but also operate responsibly to address social and environmental issues, according to a study by Cone Communications. Eighty-four percent of global consumers also said they seek out responsible products whenever possible.
And furthermore, a company’s CSR strategy is a big factor in where today’s top talent chooses to work.
If you’d like to discover the difference that Corporate Social Responsibility could make to your business, Natural Assets can create a customised workshop to establish this with you. Explore our workshop options here to begin your CSR Journey.