What is the importance of CSR for your business?
The Internet has rapidly become the tool of choice for spreading information about companies around the world.
The thing every company fears most is becoming the target of a powerful single-issue campaign group. So, rather than wait for it to happen, it is better to take pre-emptive action in the form of environmental product development and labelling, or engaging in such ideas as codes of conduct and social audits.
We have to take cognisance of the new forces in the consumer market, where the consumer-citizen is metamorphosing (gradually in countries like India) into a citizen-consumer.
Cause marketing, development partnerships and environmental concerns make good business sense - particularly in terms of recycling materials, employee satisfaction and morale, building up reputational capital and as a distinctive brand marketing tool.
Inportance in business communication
Facing continuous technological evolution and new market demands in an ever more globalised environment, CSR can help telecom companies to add value to their businesses.
For example: by responding to customers' and societal needs ; by attracting, retaining or support a better employability of employees ; by developing innovative products ; by improving the quality of service, efficiency and productivity ; by enhancing their brand and reputation in the eyes of their customers, employees and other stakeholders
Consumers Consider the Importance of Corporate Social Responsibility
The corporate social responsibility (CSR) factors that American consumers believe are most important differ from those that socially responsible investors (SRI) use. Although its members are far from united in their appraisal methods, the SRI movement embraces a wide spectrum of evaluation characteristics.
Prominent investment research firm KLD Research & Analytics, Inc. created Socrates(TM), an online social research database that provides measures of company performance designed to help investment professionals integrate environmental, social, and governance factors into their decisions.
For seven years, Business Ethics magazine has used Socrates(TM) data to define its 100 Best Corporate Citizens list. Firms are ranked on performance in eight stakeholder categories: shareholders, community, governance, diversity, employees, environment, human rights, and product.
The disparate CSR perspective held by consumers was developed through research sponsored by the National Consumers League. A telephone survey of 800 U.S. adults showed that the most important proof of good corporate citizenship is how well a company treats its employees. Similarly, the survey found that 76% believe that a company's treatment of its employees plays a big role in consumer purchasing decisions.
Giving
Awareness And social Impact
Corelations
sTUDY Case
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