Are you looking for ways to make your business stand out in a community where it is impossible to grab the attention of consumers? A business’s reputation is arguably the most influential driving force for sales and a customer’s willingness to engage with a brand. At first thought, we tend to base our perception of a company on the price and quality of what we are gaining and then recommending it based on how we perceived that product or service to be.
Global consulting firm Reputation Institute employee Kasper Ulf Nielsen suggests, “Your willingness to buy, recommend, work for, and invest in a company is driven by your perceptions of the company – or its reputation, and only 40% by your perceptions of the product or service.” Beyond this, your business’s corporate social responsibility (CSR) represents what you value and how you conduct business.
Your business responsibilities
No matter what type of business you run, your business has a direct impact on your community. This and the resources you use virtually mandates that your enterprise gives back to your community. Establishing CSR can help you achieve that objective. Canada’s Healthy Workplace Month provides insights into the types of social responsibilities Canadian businesses should embrace. These duties involve taking charge in economic, ethical, social, and environmental responsibilities. As a result, your business will become socially accountable to all those who may be impacted by your business.
The core of corporate social responsibility
Although establishing and maintaining CSR may seem daunting and potentially costly, it is worth the time and effort to invest in. Establishing CSR is more than simply donating to a local charity or searching for ways to get your business’s name in the media.
The Business Development Bank of Canada (BDC) counsels that when building corporate social responsibility you must consider that “The real core of corporate social responsibility is ensuring that everyone in your organization is accountable and works to earn the trust of consumers and investors by meeting their expectations of ethical and responsible behaviour.”
Example of good corporate social responsibility
Even though the idea of a socially responsible organization may seem rare, there are multinational businesses practicing CSR. One business worth highlighting that has found success while maintaining CSR is Patagonia. If you weren’t already aware, Patagonia is a clothing company that designs clothing for outdoor activities – although it can be worn for just about anything.
The global company stands out with its CSR practices because of the steps they’ve taken to reduce their impact on the environment and provide exceptional working conditions. Since 1973, the owners have been educating consumers on the dangers associated with sweatshops and offering unique benefits and scheduling hours to employees at their factories.
The American brand has an extended timeline representing the steps they’ve taken in establishing CSR, one that stands out is the promise they made in the early days of their manufacturing. They ensure that their factories are well cleaned, well run, and have low turnover rates regardless of where they are operating. In 2007, Patagonia launched The
Footprint Chronicles, a program that traces the environmental impact of its products coming from these factories.
Recently, the clothing store made its way into news headlines after Trump initiated a corporate tax cut. The company found itself with a generous ten million dollars. Although many other successful companies have received similar returns, Patagonia has pledged to donate their corporate tax cut to grassroots environmental activist groups to help cover the costs associated with climate change.
What are you going to do?
I may be able to tell you why I think it is best for your business to invest in CSR and provide you with endless examples of how it has been proven to be effective for businesses around the world, but it is up to you to decide whether your business establishes CSR.
Our world increasingly needs more companies to give back to the community. Taking steps to integrate CSR into your business can help achieve this goal. Do good for your community, be charitable, put the environment first, and remember to provide your employees with the best possible working conditions. Start implementing this strategy into your business and watch the long-term results take your business to a new level of success.
Article By: Alexandra Doolan
Editor, Symmetry Public Relations
