Corporate Social Responsibility
Corporate Social Responsibility
Corporate Social Responsibility
Katie Schmidt, the founder and lead designer of Passion Lilie, said CSR can positively
impact your business by improving your company image, building your brand and
motivating you as a business owner.
"What the public thinks of your company is critical to its success," Schmidt told Business
News Daily. "By building a positive image that you believe in, you can make a name for
your company as being socially conscious."
"The next generation of employees is seeking out employers that are focused on the
triple bottom line: people, planet and revenue," said Cooney. "Coming out of the
recession, corporate revenue has been getting stronger. Companies are encouraged to
put that increased profit into programs that give back."
In addition to a better company image, Schmidt said sustainable development can help
your business financially. For example, using less packaging and less energy can
reduce production costs.
"Even 5%, though it might not sound like a lot, can add up to make a difference," said
Schmidt. "When thinking of ways to donate and give back, start local and then move
from there."
When initiating CSR, give your employees a voice by involving them in the decision-
making process. Create an internal team to spearhead the efforts and choose an
organization or cause they care about. Contributing to something your employees are
passionate about can increase engagement and success. Involving your employees in
the decision-making process can also bring some clarity and assurance to your team.
"If decisions [about CSR] are made behind closed doors, people will wonder if there are
strings attached, and if the donations are really going where they say," Cooney said.
"Engage your employees [and consumers] in giving back. Let them feel like they have a
voice."
Regardless of which strategies you use for sustainable development, Boynton said it is
important to be vocal. Let your consumers know what you are doing to be socially
conscious.
"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," she said. "Announcing these benefits is a win-
win from both a commercial and sustainability perspective."
Avoid using CSR opportunities solely for marketing purposes. Schmidt said running a
corporate responsibility campaign as a quick marketing scheme can backfire when your
business doesn't follow through. Instead of employing a one-time act, you can adopt
socially responsible business practices over time. Schmidt said employees and
consumers tend to react positively to companies that embrace long-term social
responsibility.
If you are considering sustainable activities that aren't legally required yet, don't wait. By
adopting socially responsible norms early on, you can set the bar for your industry and
refine your process. Undertaking CSR initiatives is truly a win for everyone involved.
The environmental impact of your actions will not only appeal to socially conscious
consumers and employees but can also make a real difference in the world.