The Importance of Corporate Social Responsibility (CSR) in Business

What is Corporate Social Responsibility?

Corporate Social Responsibility refers to the idea that a company or corporation has a moral obligation to give back to its community.  Usually, it involves developing corporate guidelines and policies with the goal of positively impacting society as a part of the company’s everyday business practices.

Why is Corporate Social Responsibility Important?

Corporate social responsibility is equally important for the community as it is for the business. The impact that a company’s CSR initiatives have on the community greatly depends on the area the initiative focuses on. For example, a company may focus on making sustainability a core focus of their business practices, which would have a greater impact on the environment.

CSR, when done correctly, can also be just as beneficial for the business as it is for society. CSR can help consumers better resonate with your business. In fact, there is a study that shows 71% of consumers prefer purchasing from companies that support a cause that aligns with their values. That’s why when you are building your company’s CSR initiatives it is important to understand who your customers are and what they care about.

Employees giving a wheelchair to PWD

Can Corporate Social Responsibility Impact Company Culture?

Business models that incorporate CSR can also help improve company culture. Corporate Social Responsibility (CSR) programs can help build bonds, strengthen communication skills and boost morale while making a positive difference in the lives of people who need it most.

What Are Some Examples of CSR Activities?

The possibilities for CSR activities are expansive and versatile enough to fit a variety of teams. Some examples of CSR activities include:

  1. Bike builds for charity.
  2. Make care kits for homeless shelters.
  3. Assemble wheelchairs for Veterans.
  4. Paint shoes to donate.
  5. Foodbank Showdown to feed the hungry. 

CSR programs do more than team build, they connect your team with a meaningful purpose.

What Is An Example of CSR In Practice?

Some companies are more aware than others when it comes to the importance of corporate social responsibility. An example of one of the most notable CSR initiatives is through Haagen-Dazs, an ice cream company that prides itself on using all-natural ingredients.

They saw a need, developed a purpose, and decided to do their absolute best in creating a solution.

Save the honey beesIn 2008, they sought to change the future and launched a program called “HD loves HB”  aimed at engaging consumers with the brand, and bringing awareness to the real danger honey bees are in.

By the end of 2008, the new program would establish several new CSR initiatives, as well as generate media impressions, and increase sales by one percent. Haagen-Dazs decided to donate $ 250,000 to Pennsylvania State University and to the University of California-Davis, to research sustainable pollination and CCD (Colony Collapse Disorder).

In addition to the donations, HD set up a “Bee-Advisory” board, known as the National Honey Bee Advisory Board (NASS) to ensure that information communicated to the public was accurate and factual. NASS comprised of PSU and UCD scientists, as well as two beekeepers. They also released a new flavor of ice cream called Vanilla Honey Bee. They pledged that a percentage of the sales would go towards CCD research. NASS and HD set out to give consumers a challenge to plant one million seeds to create bee-friendly environments.  Enthusiasts of the program received seeds from HD (266-267).

The result:

HD reported a 5.2% increase in sales in April 2008, the largest they had ever seen. Additionally, they received more than 277 million media impressions. The team surpassed its goal of planting 1,000,000 seeds with more than 1,200,000 seeds planted. HD also received 950 contacts from various organizations and consumers that offered to collaborate. They gave suggestions and complimented the program. Most notably, however, HD says it experienced a 13% increase in its brand advocacy rating between Q1 and Q2 to 69%, which exceeded Ben and Jerry’s rating (268).

Make An Impact With Corporate Social Responsibility Programs

At TeamBonding, we make CSR easy through our variety of programs and activities designed to seamlessly integrate CSR into your business. Our charitable team building activities include Impact Online, The Charity Bike Build, The Donation Station, Wheels around the World, Operation Military Care, and much more.

 

David Goldstein

Founder & COO

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