What do you think are the benefits of CSR for the society at large?
Would you prefer working at a company that has committed to CSR? Why or why not?
CSR (Corporate Social Responsibility) seems to fit into the most powerful theory from earlier and current economists — the art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups. Embracing CSR can serve to build a good reputation and make the business itself becomes sustainable.
From the research, 88% of consumers said they were more likely to spend money for a company that supports and engages in activities to improve society, proved that the companies can gain more than lose by helping society. This community involvement goes a long way towards building trust between customers and the business. CSR benefits all stakeholders which are claimed to be all groups of people in the long sustainable term.
Though in my opt, there is still a question of whether CSR is an act with a bona fide intention or not, yet when thoroughly empathizing all stakeholders’ perspectives and benefits, it appears to be more satisfactory than unacceptance. But also, CSR might depend on the ownership of the business, whether a company is publicly or privately owned. Publicly listed companies have a responsibility to shareholders, which can lead to discontinuing CSR activities if it tends to lose money. However having disadvantages towards shareholders, it is clear that many firms work on their own CSR plans by improving the lives of their employees through healthy initiatives or organizing fundraising events to benefit local charities. Though smaller in scale, these CSR programs are no less impactful and can have a hugely positive effect on staff and local communities.
As an employee, I prefer working with a company that adopts CSR, with my personal reason as a volunteer and generous womankind. Well, I would love to think of doing a good thing to this world myself from experiences acquiring from working in the company. I believe that another benefit of CSR initiatives is employees can work as a way to encourage and restore the lost motivation in employees themselves through engaging social involvement. When discussing the term”future”, I (and newbies mostly) agree on making the world to be a better place to live. We tend to urgently be aware of doing so because we are still young and wanting to live a little bit longer than oldies.