By Franck Ardourel @usedigital
Corporate Social Responsibility (CSR) is a modern prodigy and is supposed to make an impact not only from the business point of view but also from the aspect of social and environmental health. The definition of CSR differs from company to company with certain things in common. As such, a common definition of CSR might be “Corporate Social Responsibility is a continuous commitment of ethical business and contribution towards economic development while improving the social health of all employees as well as their families and also the local communities which in turn leads to the development of society from all aspects.”
Currently, CSR has become an integral part of the wealth increasing process which, if managed properly, not only maximizes the wealth creation of the organization and adds social values to it but also increases the competitiveness in the market. But the processes are different based on organizations, specific society, and country and so on. So, we can easily say that it comes in all shapes and sizes depending on where you are and where you want to implement them and who the stakeholders are.
One thing that needs to be looked after in the contemporary business is that CSR should not only be used as a tool to generate money. It should more importantly address important issues like sustainable development so that it can put forward a helping hand in prolonging the life of the Earth. The go green initiative is one such initiative. It was not a very long time ago when green products were considered as products which were ethical but did not work. But the green giants have successfully managed to break this myth with the help of sustainable innovations and nowadays the green products not only works but are ethical as well and also makes good business. For example the green deodorants do deodorize nowadays.
Another ethical business strategy might be enhancement in using renewable energy resources as much as possible. Nowadays not only many companies but even cities like Palo Alto use different types of green technology to generate electricity. This not only curtails cost but is also an ethical practice which goes a long way in minimizing depletion of resources. Using renewable energy should also be considered as an essential ethical practice to be followed by the organization worldwide.
To conclude the discourse, it needs to be said that CSR activity would only be effective if it is helpful to the society from the environmental point of view. It should not be considered as a tool to save and earn money only. It should primarily look after your social welfare, but what is even more essential is it should limit our growth so that we can sustain the available resources for as long as possible. Thus, grow your own business but please do not underestimate the necessity of renewable resources and green initiatives to ensure that your growth is directly linked to the growth of the society and the sustainability of the Earth.
But, you can get richer by becoming greener, REV has assisted hundred of small and mid-size companies, mostly in California, to formulate and implement Sustainability Action Plans by joining together in Sustainability Circles®.