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What is the importance of Corporate Social Responsibility for companies?

More than ever, we expect companies to use their political and social influence to transform realities through Corporate Social Responsibility actions. 

Consumers, in turn, continue to become increasingly demanding. In April 2019, the global information company Nielsen published an article that addressed the consumption profile of generation Z. These are consumers who carry out activities aimed at sustainability in their daily lives and, above all, who expect their suppliers to also show their concern for the future. 

Do you want to know more about Corporate Social Responsibility and its importance? 

What is Corporate Social Responsibility

The CSR meaning goes beyond economic issues such as generating profits and jobs. 

A socially responsible company must outline actions in ethical and transparent management. For this, it needs to involve issues such as the quality of life and well-being of the company’s internal public, the relationship with stakeholders and the reduction of negative impacts on the community and the environment. 

For Corporate Social Responsibility to be incorporated into the company’s DNA, its implementation must be accompanied by a profound and real change in culture and behavior.

When this change takes place, Corporate Social Responsibility gains fundamental importance for companies and society. 

What is the importance of Social Responsibility for companies

Without a doubt, companies that work with Social Responsibility contribute to building a better world. And this brings positive impacts for the company itself.

With Corporate Social Responsibility actions, they become more solid and capable of facing social and economic crises. In addition, all actions designed in an ethical and responsible manner have a direct impact on aspects such as: 

  • construction of an environment of cooperativism in business;
  • increase in the company’s competitive advantage (coming up with the increasingly specific demands of the consumer public);
  • generates greater associated value and recognition of the business;
  • possibility of investing in innovation and sustainable development;
  • making decisions related to mutual, not exclusive, benefit;
  • return on investments in the form of partnerships and social benefits;
  • creation of a sense of belonging to the company of employees and stakeholders;
  • meeting the needs of the population around the company;
  • stimulating the movement of the local economy;
  • raising the company’s reputation in society. 

The three pillars of Corporate Social Responsibility

In summary, we can say that investing in Social Responsibility enables better results in the long term, which guarantees the three pillars of Corporate Social Responsibility.

Environment, Economy and Society form what we call the three pillars of CSR. They are the guides for sustainable management.

Environment

Companies concerned about the environment should think about ways to take advantage of their resources, reduce pollutant emissions and encourage actions such as recycling and conscious waste management.  Check out Greenly.earth blog for more tips on building a true eco-friendly company.

Economy

In the economic aspect, organizations reflect on the importance of managing financial resources responsibly, avoiding waste, making conscious investments and rendering accounts transparently.

Society

The company concerned with society should encourage good practices and ensure the working conditions of its employees. 

In addition, it must include in its plan actions, acts that also generate a positive impact on the society around the company. Such actions can be social projects, community actions, creation of companies, among others. 

If we think about sustainable development in a broad way, we understand why it is not possible to disregard any of these three dimensions: for a business to develop sustainably, it needs to guarantee that environmental and social resources do not run out in the future.

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