top of page

Understanding the role of corporate social responsibility (CSR) as an organisation





In today's world, it is expected of businesses to give back to the society or environment from which they gain. As such, you should be aware of your position in corporate social responsibility.

 

What is corporate social responsibility?

 

Corporate social responsibility (CSR) is a business concept where companies deliberately endeavour to contribute to society's and the environment's well-being instead of doing harm to them. In addition to benefiting society and the environment, CSR helps businesses enhance their brand image.

 

A company must be accountable to its investors and to itself before it can execute its social duty to society. The company should have developed its operations to the point where it is able to contribute back to society in order to be able to undertake CSR programmes. That is why large companies typically use CSR as a strategy.

 

A company has a higher obligation to set the norm for ethical conduct among its competitors and the industry the more successful and well-known it is.

 

Types of corporate social responsibility

 

A company can participate in four main forms of corporate social responsibility environmental, philanthropic, ethical, and economic. Environmental is concerned with protecting the environment and its natural resources, whereas philanthropy is concerned with charitable giving to deserving causes that are not always connected to business. Economic focuses on providing financial assistance, whereas ethics ensures ethical company operations.

 

Benefits of corporate social responsibility for your organisation

 

There are several advantages associated with corporate social responsibility, despite the fact that brands must comprehend and fulfil their part in it. These are some advantages that corporate social responsibility may provide for a business.

 

Positive brand image - This is critical because customers make purchasing decisions about a company depending on how the public perceives it. Demonstrating your willingness to return the favours you receive from customers demonstrates your commitment to their well-being, which attracts further customers.

 

Free publicity - Your work and message will spread if you are dedicated to ethical behaviour. This implies that your brand will become more well-known and that its awareness will rise.

 

Improved employee engagement and retention - Employees appreciate working for companies with a positive public perception. Due to of the company’s dedication to improving the lives of others, it will be able to retain more employees since it demonstrates to them that you will also be invested in their professional development.

 

If you would like to discuss your CSR, please email enquiries@ovacgroup.com, for a free consultation with our team specialists.



Commentaires


bottom of page