Due to a long standing contradictory beliefs of nature of companies’ responsibilities to the community, majority tend to undertake what is referred to as corporate social responsibility (CSR). It is necessary for companies to adopt public responsible behaviors as opposed to business appearance management or different activities aimed at achieving business success. CSR simply refers to the self-regulatory type of a business which its main target is to remain publicly accountable. Therefore, what the people think of one’s business determines how successful the business can be. Contrary, there is no specific way in which a company can practice social responsibility. Some ways which most companies try out is engaging in public participation events, economic, or environmental contribution. There are a lot of benefits which a good business imagery can bring to the business.
Corporate Social responsibility strategies are ideas in which a business integrates communal and ecological concerns in its operations and participates in a more responsible role in the society. If a company fully understands what CSR means, it becomes a win-win situation where the strategy benefits the organization. Some benefits that an organization enjoys due to CSR are increased sales and customer loyalty, better financial performance, the ability to attract talent and retain workers, positive business reputation and easier capital access among others (Alhouti & D’Souza, 2018). Therefore my organization would consider adopting CSR if higher image rating does not work properly with my business and also it will give my employees a chance to serve the community in a certain capacity.
In conclusion, CSR is the social responsibility that an organization takes in order to portray a good image in the society. How people perceive a business determines how successful that business can be. There are a lot of benefits which comes in hand with a good social responsibilities such as the ability to attract customers, retain talented workforce and have a business positive business reputation. In this case it good for organizations to adopt this responsibility even if higher image rating works for their organization as it gives customers a firm belief in their activities.
References
Alhouti, S., & D’Souza, G. (2018). Benefits of corporate social responsibility. Journal of Consumer Marketing.
Russell, J. T., & Chaudhury, P. D. (2008). Corporate social responsibility: what it means for the project manager. Project Management Institute.