Corporate Social Responsibility: Your Way To Sustainable Business
For the average business, life ultimately boils down to one figure: net profits. Without profit, a company just can’t stay in business. Eventually debt will weigh that company down and cause it to go under. To maximize profits, many businesses will limit outgoing costs, including local philanthropic efforts. On the surface, this seems like a good idea.In reality, however, the story is much different. The modern consumer is very conscious about corporate social responsibility today. Consumers will switch their brand loyalty when a company is willing to give back more to their community. A one-time donation or a day of volunteer work to a charitable cause of good things, but corporate social responsibility is more than just a solitary effort. It must be something that is woven into the very fiber of the business itself. This allows consumers to feel like they are part of the philanthropic efforts through their purchasing habits and interactions. Here are some of the best examples of corporate social responsibility being exhibited in the marketplace today.
TOMS Shoes
TOMS Shoes has a One for One program where every product that is purchased helps someone in need. This organization has given away over 35 million pairs of shoes over the years. Now the organization has expanded to help provide better access to clean water, better medical care for safer births, and modern ophthalmologist care to improve sight.How can the world be changed with just shoes and better care? More than 2 million children are protected from hookworm. 42% of new mothers are getting the medical care they need. School enrollments are increasing. This is why TOMS Shoes is a leader in corporate social responsibility today.
Image Outfitters
Launched in 1998, Image Outfitters took the normal path of philanthropic efforts by making annual donations to charities. After the Great Recession of 2008-2009, the company changed its sales models because it saw direct evidence of the impact of the economic downturn. Now consumers can shop through iShare and 10% of every total sale on new customer orders is donated to a charity of the consumer’s choice.
Headbands For Hope
Jessica Ekstrom proves that anyone can create a business that has a CSR identity. All of her headbands are made locally. Her inspiration for the business came from an internship with the Make-a-Wish Foundation and now every sale of a headband gives $1 to the St. Baldrick’s Foundation. This company provides local jobs, gives to children in need with every sale, and works with consumers to stand up to cancer. That’s a power message of responsibility.
Altered Seasons
Kelly Reddington founded this company with his mother more than a decade ago. When he took full control of it after growing up, he adopted a specific one-for-one model much like TOMS Shoes. Instead of donating a candle with every purchase of a candle, however, Altered Seasons will donate a meal to an American family in need through the Feeding America program. This means an order of 10 candles by a consumer will provide 10 meals to someone in need.
Cole and Parker
Colorful socks can make a dramatic impact on personal fashion. Buying those socks through this Canadian company also means being able to help other businesses around the world who are in need. Cole and Parker has partnered with Kiva to provide micro-loans to entrepreneurs who are changing their stars in the developing world. Every purchase sends proceeds into a micro-loan fund.
Charitable Agents
What if the purchase or sale of a home could be about more than just dollars and cents? This network puts realtors and homeowners together so that corporate social responsibility can be emphasized. When a real estate transaction closes, 10% of the commission on the sale goes directly to a charity. Realtors might lose a little of the profit on each sale, but they get more requests for work because of their commitment to a CSR business lifestyle. This means realtors ultimately make more money and charities get more too.
Corporate social responsibility must become a focus of every business in some way if they truly wish to compete in the modern market. These companies have established their own CSR identity and it is driving sales for them. What could you and your business do? There are people in your community right now that could use a hand up. Extend your hand and not only will you improve the lives of others, but you’ll improve your bottom line as well.
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