In-Corporate

Worldwide, a steadily rising amount of companies choose to organize corporate journeys for their associates in order to strengthen the bonding between them and achieve group efficiency maximization. Team Building Activities both indoor and outdoor contribute to that goal helping the participants grow amid them companionship and trust.

Although most organizations agree that corporate social responsibility (CSR) positively impacts their business performance, many still struggle to explain what CSR actually is.

Below you can find a thorough explanation of the idea of corporate social responsibility.

You’ll learn:

• What is corporate social responsibility,
• The effect that a company’s CSR initiatives have on consumers,
• And the importance of including CSR in corporate communications.

What is Corporate Social Responsibility?

CSR is as a set of practices that organizations use to contribute to the well-being of their immediate community.

Corporate social responsibility encompasses dual objectives—pursuing benefits for the business and for society.

CSR activities are categorized into three groups:

• Pet projects that reflect personal interests of senior executives. Due to their nature, however, these activities typically deliver minimal benefits for both society and the business.
• The middle tier includes initiatives that deliver one-sided benefits, either to a company or society. For example, donations (categorized as philanthropy) might boost the abilities of a charity, and raise awareness about whatever issues they tackle. Propaganda activities, on the other hand, aim to boost a company’s reputation while typically delivering hardly any benefit to society.
• The third group includes initiatives delivering equally significant benefits to the society and business.

The effect of corporate social responsibility activities on consumer behaviour is irrefutable!

Fact: As consumers become more aware of who they buy from or engage with, Corporate Social Responsibility becomes a strong differentiating factor for companies.

In fact, organizations that can demonstrate initiatives aiming to support the community or reduce their impact on the environment, for example, enjoy a much greater customer loyalty.

What’s more, CSR becomes an enticing word-of-mouth factor for many.

Not to mention that many consumers use a company’s CSR as an easy method to contribute to society themselves. In fact, the most common CSR-related action among customers is consciously choosing products from CSR-active brands, pushing away other activities like making a donation or volunteering.

Why is it important to communicate about CSR activities?

In spite of almost unanimous agreement among companies regarding the positive effect corporate social responsibility has on their reputation, as many as 40% assign only 10% of their communications budget to communicate about their CSR initiatives.

For those that do, however, the benefits of clearly communicating their corporate social responsibility are great.

Because, as many experts point out – communication is what makes a company socially responsible.

After all, without CSR communication, no one will really know about your initiatives.

It is important to note that communicating CSR efforts helps achieve good corporate reputation, that will positively affect both financial and social performance.

CSR can also help send the right signals to investors

The effect of CSR on business performance is undeniable. However, the starting point for launching, and then communicating an organization’s corporate social responsibility is thorough knowledge of what CSR is, and its effect on brand perception.