Corporate Social Responsibility: Sharing with The Community

 

 

Companies have responsibilities more than providing high-quality products and services. Being socially responsible would help them sustain the business and strengthen their brand.

The goal of every company is the become a sustainable business. And there are so many ways to put a company’s name out in the market. But, what could be more appealing to the market is when they see a specific brand that is being socially involved in such a way that it benefits a lot of people.

Corporate social responsibility (CSR) initiatives are measures businesses create wherein their primary purpose is beneficial to society. There are different categories of CSR that companies consider.

1. Becoming environmentally involved. Just take a look at home the Pasig River has evolved over the years. We know that the river has become a big dump that has looked hopeless for many years due to irresponsible individuals not caring for the environment. But because some are genuinely concerned about the environment, many participated in this program. The cleanup drive did not only make the river look healthier again. But it has also proved that people still care about our environment. All it takes is for one to start.
2. Gift-giving. Who wouldn’t share the love, time, and financial assistance if customers knew that a portion of their purchase would be used for a good cause? Orphanages, street children, the elderly, etc. These are just some people who greatly benefit from programs made by companies. I think that giving back to the community is something that every company should do, no matter how small the business is. Many people in our country need our help, especially in catastrophes such as floods and earthquake victims. Very recently, the eruption of the Taal Volcano has affected a lot of people in Batangas and nearby cities. Gift-giving should not only be done during the Christmas season. So many people need help every day.
3. Focusing on ethical business practices to promote economic growth. An example of this is when a manufacturing company considers using recyclable materials, which lowers the manufacturing cost and benefits society by significantly consuming fewer resources. Small local businesses may have created excellent products from indigenous materials, which can eventually be of export quality, which affects Filipino products’ standards. This, in turn, helps build a sustainable business.

While every company’s goal is to sustain a business. It should not also be forgotten that more than the financial gain they get from their success in the industry is their responsibility to the community.

Benefits of CSR

For an entrepreneur, having the right mindset of building a business should focus on how to multiply his income. Still, they should also be mindful of his responsibility to be members of society. It is like an ordinary individual seeing an old lady cross the street. You don’t just ignore it. You approach the person and offer your help. On the other hand, corporate social responsibility is a form of helping on a larger scale. It focuses not only on a single person but also on the whole community.

There are so many advantages that businesses can get from being socially responsible. And these are:

Ø better brand recognition – A company known to give great benefits to the community is looked up to. And builds trust among their customers, thus increasing their reputation to a level that any business can be proud of.

Ø better financial performance – Naturally, when a business increases its customer base, many individuals would out trust in the products and services they offer.

Ø easier access to capital – Should a company need to expand their business. Whether they seek help from a financial institution or an individual, they would not be getting any hard times. Because these financial partners know that the company is booming and supported by many customers, investors, etc.

Ø more extraordinary ability to attract talent and retain staff – Having a solid foundation is one criterion individuals seeking a job would look for. And when they know that the company they are applying to has this, it is likely for them to choose it and, once hired, would remain in their jobs.

Ø increased sales and customer loyalty. As mentioned earlier, a strong company with a good reputation would quickly increase its sales and increase customer loyalty. They do not just believe in their brand but also support and believe in whatever cause to which the company extends its help.

Ø saving on operational costs – Similarly, socially responsible companies get perks from their hard work. The money they may commit can be used on other essential matters such as the improvement of the technology or for expanding the business. And saving on operating costs is indeed a huge help.

Ø organizational growth – A business is built on trust by people. When people share the same visions as the company, these encourage people to join. Not only because of the money they can earn from joining the company but also the benefits of being part of a company that genuinely has a heart for helping society.

Ø positive business reputation – People would never forget a company they know is helping others. And this, in turn, encourages more people to be involved with the exact cause as that of a company.

Ø Identify new business opportunities – Again, a company known to be of good reputation is likely to have more options. And these opportunities can also be a way of reaching out to more people in need.

Being socially responsible may be seen as a great marketing strategy. However, business owners should see the financial benefits from all of these and feel good about themselves that they have done something worthwhile for their fellowmen. No matter what kind of assistance they may provide for others will surely be appreciated. After all, we see many people who really need help, and all we need is just someone to start so that others may follow.  Starting with a small service can reach a magnitude unimaginable only if we pour our hearts into it and show how much we care.

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You may contact Armando “Butz” Bartolome for questions and more information.

Email:  [email protected] 

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Website: https://www.butzbartolome.com