Creating sustainable businesses
In today’s world, it is not enough if we think of a business as an individual unit, separated from the society. Business has always been an integral part of society. Although the primary motive is to make money, businesses have realized that it is not enough to focus only on this. It has realized that it has to show society that it cares, now more than ever. Although this started as a fad, businesses have realized that it is actually a sustainable business model and it is the way forward. Sustainable businesses are environmentally friendly and/or have an enduring commitment to local community. This lowers costs and builds long lasting relationships with the community.
Although CSR might not be the top priority of a business in a weak economic climate, it may actually improve a company’s bottom line performance. CSR improves a company’s image in the eyes of the public, increases consumer awareness, customer satisfaction and purchase behavior. This in turn improves a company’s profitability. Apart from this, it also improves employees’ view of the company. It makes them more committed to work for the company because they feel proud of being associated with a company that cares. Businesses can also encourage employees to take active leadership roles in such activities, which gives them hands on experience, which can then be used in their professional careers as well.
CSR comes in various forms. Most companies have various programs in which people dedicate some time helping others. It may be in the field of education, local community support or any other cause. As long as employees have a choice of selecting a program which interests them the most, it will be helpful.