19 Jan The benefits of CSR for you and the environment
CSR doesn’t only benefit the environment: it can benefit everyone.
What is CSR? It stands for “corporate social responsibility” and it is the idea that businesses should operate under social and moral guidelines beyond what is required by law. This would mean that, for example, a corporation might take steps to be “green” or to create a work environment which encourages charitable donations or volunteer work, and/or team building amongst employees. These are things that are certainly not required in theory, but which may benefit the corporation, as well as its people and community. While some businesses may overlook their corporate responsibility, that can end up causing them losses in the future, let alone a bad reputation very quickly.
A more positive public image, happier employees, and a more sustainable business approach are all benefits of a business taking social responsibility seriously. You can’t measure success as a business by only one metric anymore. We must all consider the “Triple Bottom Line” – the “3 P’s” (People, Planet, and Profits) in order to get a clear picture of a business’ sustainability and potential for long-term success. It may even be considered “enlightened self-interest” in that being socially responsible can be beneficial for EVERYONE.
A few simple examples may help to illustrate this point:
- A business that is eco-friendly has a positive public image, access to partnerships with a variety of other eco-friendly businesses and can reduce energy and other costs.
- A business that engages in charity regularly will have a great public image and may be able to partner with non-profits in mutually beneficial ways. It may also create opportunities for team building and self-actualization for employees who will be happier, healthier and feel better about their jobs.