About Corporate Social Responsibility
The essay "Why Does Your Business Care About Social Responsibility?" by Jeffrey Hayzlett details the progression of perspectives on Corporate Social Responsibility (CSR) by different businesses. Understandably, he notes that fifty years ago, the subject of CSR was seen as a public relations stunt, particularly after controversies occurred in the numerous corporations. However, Hayzlett goes on to reaffirm that perspectives and behaviors have radically changed. The modern era has had a major impact on the views and activities of most organizations on the topic of CSR. The ease of access to information in the modern age has transformed the customer into a knowledgeable consumer. The savvy consumer is ready to pay a higher price for goods of companies that are socially and environmentally responsible (Hayzlett, 2016). Evidently, these attitudes spell a change in consumer demands and, therefore, changes in business organizations and orientations.
Changes in consumer demand, influenced by preferences towards socially and environmentally friendly companies, result in incorporation of CSR goals in business plans, strategic plans, and corporate visions of the various companies. Acting as a moral gauge to measure the ethics of a company, CSR determines the attractiveness of a company to both consumers and staff. Non-compliance with social responsibilities serves as a fertile ground for legal actions against the company and thus diminished employee engagement. Companies, therefore, need to actively exercise their Corporate Social Responsibilities as move towards better profitability.
The social responsibility of a company has become an integral part in the recruitment of employees. In addition to employee engagement, improved social responsibility presents opportunities to small and medium enterprises to play their part in promoting better societies and environments. It is from the improved societies and environments that business opportunities and markets arise thus earning company profits. Some of these corporations have been able to carve a niche market for themselves and thus better interaction with investors, consumers, and employees.
In general, Hayzlett has presented the case why companies need to be more socially conscious in the modern digital age. New opportunities and better interactions with employees, consumers, and investors are just a few examples of the advantages of a socially responsible company. The writer, therefore, advocates for socially and environmentally friendly companies.
Reference
Hayzlett, J. (2016). Why Should Your Business Care About Social Responsibility? Entrepreneur. Retrieved on 19 September, 2017 from https://www.entrepreneur.com/article/269665
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