Corporate Social Responsibility: Understand It and Use It to Your Advantage

Is the concept of corporate social responsibility (CSR) a foreign concept for you and your company? If so, that must change, and the sooner that changes, the better! And why? Because every company, no matter how small or large, has the responsibility to get involved in society and make a positive impact on it. This covers many different areas of society, including economic, social, environmental, and more.

But understanding corporate social responsibility is only half of the battle. The other half is recognizing the importance of corporate social responsibility and what it could mean for the future direction of your company.

What is CSR?

Before we analyze Corporate Social Responsibility (CSR) and all of its different segments, it's important that we give you the definition of corporate social responsibility. Of course, the definition varies to a certain extent depending on the resource in question. Basically, corporate social responsibility is a business model — usually self-regulation — that enables a company to be socially responsible to three groups: itself self, his stakeholders and the general publics.

In essence, CSR describes the social footprint that a company leaves on the various groups associated with it. In an ideal world, a company's CSR strategies and efforts should have a positive impact on these groups, not a negative one. And when a company exercises corporate social responsibility in the right way, these groups will benefit while the company improves its image at the same time.

The importance of corporate social responsibility

Over time, the importance of corporate social responsibility has increased, and this applies to both start-ups and Fortune 500 companies. Nowadays, when information is so easily available, a company's image can change in the blink of an eye. It can take years, if not decades, to build up the desired brand image, but it can be destroyed by a single ill-considered action.

This makes it clear how important corporate social responsibility is and why it must be handled effectively, especially when it comes to your customers. Even though corporate social responsibility is described on one side of the table, its significance goes beyond those who use your products or services.

Viewed from a wider perspective, a company that has a positive image has a better chance of hiring top talent, which facilitates further growth and promotes the company's progress. The better your business gets from the ground up, the better your products and services will be. The result is a positive cycle for your company, which results from the simple concept of CSR.

Examples of corporate social responsibility

We hope you now have a better understanding of what corporate social responsibility is and why it is such an important part of how you do business. But nothing gives a clearer picture of CSR and its impact on every company than a few practical examples. With this in mind, we have selected some first-class examples from globally active organizations to help identify positive corporate social responsibility in practice.

These examples might inspire you to come up with some ideas that you can apply to your own business, so let's run through them right away:

Patagonia: “Earth is Now Our Stakeholder”

In an unprecedented move a few years ago, Patagonia transferred its ownership rights to a foundation focused on climate change. This move meant that any profits from Patagonia that are not reinvested for future/current operators will be donated to climate change. This is in addition to the 1% “earth tax”, which Patagonia had already imposed on itself in order to use the profits for this noble cause.

Starbucks: Not just any beans

Starbucks has radically changed its supply chain recently to ensure that its suppliers work as much as possible with local farmers. It's easy to forget how many steps go into the cup of coffee you buy in the morning! For Starbucks, this is Commitment to local jobs, which supports economies in relatively disadvantaged areas, something that customers admire and respect.

Nike: Put an end to racism

Nike is a company giant, we all know that. Yet Nike has made incredible efforts in the area of social responsibility in recent years. In its efforts, the company has Curb racism While fighting for women's rights, we've made great progress.

Nike has many high-profile commercials aimed at raising awareness of racism and discrimination, and this connects with customers on a highly sensitive issue.

What is the corporate social responsibility pyramid?

The Pyramid of Corporate Social Responsibility is a four-level framework that follows the following structure:

• Economic responsibilities
• Legal responsibilities
• Ethical Responsibilities
• Philanthropic Responsibilities

It starts with economic responsibility at the bottom of the pyramid and extends to philanthropic responsibility at the top. The pyramid is structured in this way to illustrate the chain of importance. Essentially, it shows the things a company needs to achieve before moving on to the next stage.

Only when a company is economically profitable and sustainable can it concentrate on its legal responsibility in society. These should never be ignored when the company is on the first level of the pyramid. From the second level, companies can start using their resources and status to change things for the better at a higher and more effective level.

For example, a company could invest a larger portion of its money in reducing its CO2 emissions or improving the working conditions of its employees in order to overcome ethical challenges. The last stage is corporate social responsibility, which enables them to give back through donations and programs that benefit the community.

How desk sharing with Flexopus can help with CSR

The last point we'd like to make is the steps you can take today to improve corporate social responsibility practices in your organization. This innovative Desk sharing software enables you and your employees desktops, meeting rooms and parking spaces to reserve in shared spaces within your office.

By using Flexopus Can you your Reduce environmental footprint, which make optimal use of resources and bring your employees together in a stimulating environment. Such measures offer economic and social benefits, promote team building and reduce heating and ancillary costs by reducing office space.

As a company itself, Flexopus actively has social responsibility by working for an inclusive and sustainable work environment uses. Our software is barrier-free in accordance with WCAG standards designed to ensure that it is accessible to all users. We also participate in the Code of Sustainability and are committed to environmental and social standards. We promote equal rights for employees and create a work environment that supports diversity and inclusion. With Flexopus, we not only create efficient workplace solutions, but also a company that takes responsibility for people and the environment.

Conclusion

Corporate social responsibility and how this concept can best be implemented may seem difficult. However, it is a real necessity for any company that wants to survive in the long term. Understanding the importance of social responsibility can have a significant impact on the health and overall direction of your organization. But it is up to you which direction you want to take.

So if you have the time and resources to address CSR in your organization, the potential benefits are huge. And if you haven't already addressed your corporate social responsibility model, there's no better time to act than now.