Corporate Social Responsibility is a buzz phrase for companies and serious endeavour for others.

In a nutshell CSR is –

“Social responsibility is the responsibility of an organisation for the impacts of its decisions and activities on society and the environment, through transparent and ethical behaviour that:

  • Contributes to sustainable development, including the health and the welfare of society
  • Takes into account the expectations of stakeholders
  • Is in compliance with applicable law and consistent with international norms of behaviour, and
  • Is integrated throughout the organization and practised in its relationships.”

http://accsr.com.au/what-is-csr/

The Benefits of Corporate Social Responsibility

“88% of consumers said they were more likely to buy from a company that supports and engages in activities to improve society.

– Better Business Journey, UK Small Business Consortium

Why do we need CSR?

Consumers increasingly don’t accept unethical business practices or organisations who act irresponsibly. Advances in social media (giving everyone a voice) mean that negative or destructive practices quickly fuel conversations online. Organisations are accountable for their actions like never before.

The Business Benefits of CSR

CSR should not be viewed as a drain on resources, because carefully implemented CSR policies can help your oragnisation:

  • Win new business
  • Increase customer retention
  • Develop and enhance relationships with customers, suppliers and networks
  • Attract, retain and maintain a happy workforce and be an Employer of Choice
  • Save money on energy and operating costs and manage risk
  • Differentiate yourself from your competitors
  • Generate innovation and learning and enhance your influence
  • Improve your business reputation and standing
  • Provide access to investment and funding opportunities
  • Generate positive publicity and media opportunities due to media interest in ethical business activities
Here is a Slideshare we prepared on going BEYOND CSR..