Corporate Social Responsibility (CSR) refers to the idea that companies should embrace its social responsibilities and avoid just be focused on maximizing their profits. Social responsibility is more than that. It means developing businesses with a positive relationship to the society. According to the International Organization for Standardization (ISO), this relationship to the society and environment is a crucial factor in their ability to continue to operate effectively. It is also increasingly being used as a measure of their overall performance.
As we know, providing a great product and shopping experience today will only get you to one lower level. Companies that really want their customers to keep coming back have to work in order to let them know that their money will be doing some good.
Many businesses recognize the importance of being socially and environmentally conscious, and will often advertise charitable initiatives, such as annual fundraisers for a cause, or a volunteer project their staff worked on. But companies that incorporate social responsibility into their business model prove that a dedication to these initiatives goes a long way, both for the cause and their reputation. Today, we present you two good examples of great CSR:
- Fashion Project– If you have ever donated some old clothes by dropping them into a public collection bin, you know that it’s nearly impossible to discover the impact your donation may have had. Fashion Project, a “re-commerce” platform that allows consumers to donate and shop for secondhand clothes, offers people the opportunity to make a tangible difference with their donations and purchases.
- Google Green Program is a corporate effort to use resources efficiently and support renewable power. But recycling and turning off the lights does more for Google than lower costs. Investments in these efforts have real-world effects on the bottom line. Google has seen an overall drop in power requirements for their data centers by an average of 50 percent. These savings can then be redirected to other areas of the business or to investors.