Social responsibility is the responsibility of an organization for the impacts of it’s decisions and activities on society and the environment, through transparent and ethical behavior that contributes to sustainable development, including the health and welfare of society.
The quick version is told in 3 steps:
Step 1: The economic, social and environmental progress
Step 2: Create mutually beneficial partnerships with for-purpose organizations (Like Anima!)
Step 3: Maintain accountability and transparent reporting.
CSR can help you improve your business performance, increase competitive advantage and build trust with customers and employees.
The true benefits of why businesses want a strong CSR are:
- Better brand recognition
- Positive business reputation
- Increased sales and customer loyalty
- Operational costs savings
- Better financial performance
- Greater ability to attract talent and retain staff
- Organizational growth
- Easier access to capital
The beauty of CSR is that it has many advantages that can be applied to any business, regardless of its size or sector.