Let your consumers know what you are doing to be socially conscious. Coca Cola Their 5by20 program empowers young women entrepreneurs.
As such, embracing social responsibility can actually benefit the prime directive - maximization of shareholder value. In fact, most of the advantages can accrue to any business type practicing corporate social responsibility CSR.
You can read more about their very impressive impact here. Improves your team motivation and productivity Sponsoring social initiatives and providing time for employees to support their own initiatives builds loyalty, pride, and motivation among team members and disparate organizations within the company.
Published on: Jan 2, The opinions expressed here by Inc. Social responsibility or, corporate social responsibility is a theory that asserts that businesses, in addition to maximizing shareholder value, have an obligation to act in a manner that benefits society.
Let them feel like they have a voice. Instead of employing a one-time act, you can adopt socially responsible business practices over time. Millennials are especially connected to the idea of working for socially responsible companies.
Create an internal team to spearhead the efforts and choose an organization or cause they care about. Makes your business more attractive to investors Investors look for teams with real passion, integrity, and an attractive message.
Additionally, 95 percent who had gone with this approach found it valuable. They work harder and are better all-around to their fellow employees.