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Corporate Social Responsibility, the trend every company needs

  • itzelmaciasibarra
  • Dec 8, 2021
  • 3 min read

How Corporate Social Responsibility is benefiting businesses and communities


With a business model with no wrong or right answers, corporate social responsibility (CSR) can be best defined as a practice that ensures a company does what's best for society. Because a company has free will, there are no set rules for CSR, but there are different

categories in which businesses can take part. Some of these categories include philanthropy, ethical labor practices and environmental efforts. Although it is not required for a company to adhere to these values, the failure to do so can stop them from benefiting from the benefits of corporate social responsibility. And in 2021, it would not be smart for companies to ignore it unless they want to be left behind!


Consumers are looking for more

These days, people look for more than just quality in a product or service. A company's values, stance on issues and how they help the community can influence how a person shops. According to Business Insider, in a Hotwire survey, 47% of the people surveyed said they had already stopped supporting businesses that did not reflect their values. A task that Bulgari, a jewelry company, exceeded this pandemic when it used one of its perfume factories to produce gel sanitation bottles for health workers. In total, Bulgari produced and donated 800,000 bottles.


Doing more than what is required

Consumers are an essential part of businesses, but so are employees. A big part of CSR is the positive impact a company has on society, but that can't be accomplished if a company doesn't take care of its employees. Unlike most countries, The United States is one of those that doesn't provide mandatory paid parental leave for workers. It's all left up to the employers, but Netflix took it a step further by offering its employees 52 weeks of paid parental leave. These paid weeks aren't just for birth either, parents can use those 52 weeks whenever their child may need attention, regardless of age. Because Netflix did not have to do this as there is minimal government regulation on parental leave, the fact that they did makes them a much more respectable company.


The environment is just as important

The environment is the factor that is most easy to see as companies usually promote their environmental changes. Because corporations have a large carbon footprint on the planet, these changes are a great way to help the environment and make a company look great. And Standard Motor Products Inc. is one company that is using its environmental initiatives to help the planet. By doing this, in 2020, they have already recycled 18,000 gallons of oil and stopped 4,000 tons of waste from entering landfills. Ford Motor Company is also stepping up its CSR game by preparing to introduce 40 new electrical vehicles by 2022. These tactics are set to reduce global gas emissions and are just one of the many initiatives being taken by companies.


It's no secret that companies are hopping onto the CSR bandwagon. This must-have trend is no longer a luxury worth glossing over, but instead, a practical tactic that holds companies to a higher standard while benefiting society. With its many areas, businesses should have no trouble finding what best fits them.


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About the Author

Itzel Macias Ibarra is a student at the University of North Texas, where she is majoring in journalism with a concentration in public relations and a minor in merchandising. Itzel is hoping to start a PR career once she graduates from school in December 2021.










 
 
 

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