02.26.20
by Chay Holford

“Consumers deserve to share in the good feelings associated with doing the right thing, and many surveys have found that consumers are inclined to purchase a sustainable product over a conventional alternative” – Susan Cooney, Head of Global Diversity

Social responsibility can be beneficial to your business in the long run. To be socially responsible means that individuals and companies have a duty to act in the best interests of their environment and society as a whole. Social Responsibility (SR), as it applies to business, is known as Corporate Social Responsibility (CSR). – Investopedia 

Many companies, such as those with “green” policies, have made social responsibility an integral part of their business models, and they have done so without compromising profitability. Being a socially responsible business can actually bolster a company’s image and build its brand. Other benefits to being a socially responsible business are that it empowers employees and can boost employee morale which leads to greater productivity. Making it a win win for both your business and your people.

4 Corporate Responsibility Types Your Wellness Business Can Practice

​Recognizing how important socially responsible efforts are to their customers, employees and stakeholders, many companies now focus on a few broad CSR categories:
1. Environmental Efforts: One primary focus of corporate social responsibility is the environment. Businesses, regardless of size, have large carbon footprints. Any steps they can take to reduce those footprints are considered good for both the company and society.
2. Philanthropy: Businesses can practice social responsibility by donating money, products or services to social causes and nonprofits. Larger companies tend to have a lot of resources that can benefit charities and local community programs. It is best to consult with these organizations about their specific needs before donating.
3. Ethical Labor Practices: By treating employees fairly and ethically, companies can demonstrate their social responsibility. This is especially true of businesses that operate in international locations with labor laws that differ from those in the United States.
4. Volunteering: Attending volunteer events says a lot about a company’s sincerity. By doing good deeds without expecting anything in return, companies can express their concern for specific issues and commitment to certain organizations.- Business Daily News

These days consumers want to support eco-conscious businesses. Not only does the planet benefit from socially responsible business practices but you do too. In 2018, Forbes named the top socially responsible companies in the world. Topping the list was Google, followed closely by The Walt Disney Company and Lego, who at the time had just announced that it would begin manufacturing its pieces from plant-based sources. – Business Daily News  

​Patagonia is another great example of a business that has remained socially responsible. A recent announcement regarding limiting sales of certain products in an effort to minimize ecological damage bolstered their brand personality: passion toward the environment. With this bold move, Patagonia will be able to convey its core messages to consumers more effectively and develop consumer trust simultaneously by saving the planet. Today’s consumers want companies to be honest and transparent with what they do.
In addition to demanding products or services that are accountable for social and environmental impact, they are becoming more aware of the importance of CSR and are eager to be part of it. What can you do to be more socially responsible? – Ad Week

 

 

 

Want to stay up to date on GSN News & Events? Sign-up to receive our newsletter.