Social responsibility is an important Core Value for every company. Not only is it the right thing to do, it makes good business sense. It tells and shows employees that the company cares about them, their lives and the community in which they work and live. As a Core Value, it becomes part of the company’s culture and work fabric, causing behavior that has positive outcomes.
Corporate social responsibility (CSR) is the business responsibility for the impact of its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere. The scale and nature of the benefits of CSR for an organization can vary depending on the nature of the enterprise. It may be difficult to quantify, however, a number of studies have shown a correlation between social/environmental performance and financial performance. The benefits can be any or all of the following for example:
1. Revenue and profitability: Often the implementation of these ideas can lead to new sources of profitability either through new revenue opportunities or cost avoidance. Company after company has documented these benefits.
2. Human resources: It can be an aid to recruitment and retention. CSR can help improve the perception of a company, particularly when staff can become involved through payroll giving, fundraising activities or community volunteering.
3. Brand Differentiation: Companies strive for a unique selling proposition that can separate them from the competition in the minds of consumers. CSR can play a role in building customer loyalty based on distinctive ethical values. You will note the sweep of “green” products that have been introduced in almost every industry.
4. Risk management: Managing risk is a central part of many corporate strategies. Reputations that take decades to build up can be ruined in hours through incidents such as corruption, scandals or environmental accidents. Building a genuine culture of 'doing the right thing' within a corporation can offset these risks.
The Maver Management Group has long been a supporter of social responsibility. We have been active with a number of area organizations and ministries as part of our giving back. We are currently involved in a “Kingdom Assignment" of raising money to pay for Bibles that will be used by new churches established by CityTeam, San Francisco. CityTeam works to help the economically disadvantaged in San Francisco and is working diligently using a productive formula to establish new churches and reach many, who desperately need the love, caring, guidance and help. We are blessed to be involved in this good work.
As we reach out to others to tell them of this program, we consistently find that the real benefit comes to us. Not in terms of new business or profitability, but in terms of being of significance in what we do. It is a Core Value for this company and the impact is far reaching.
This type of assignment may not fit your needs or desires perfectly. However, another one will and we encourage you to include social responsibility programs in the activities of your company, both on a personal and corporate level.
Contact us if you want to be part of our efforts or if we can help you with yours in some way.
Maver Management Group