How important is ethics and social responsibility to business

Social responsibility of business

Business social responsibility has been talked about for some time. Still, not all companies take this approach seriously, and they may see CSR as a waste of money rather than as an investment that yields benefits. Therefore, today, we will try to explain why Business Social Responsibility seems so important to us.

What is business social responsibility?

Corporate Social Responsibility of business is based on raising awareness on the part of a company about the economic, social, and environmental impacts that it generates in the environment, complying with the legislation, and carrying out voluntary responsible actions internally and externally. A Corporate Social Responsibility policy should be developed and integrated into the strategic business plan, from the core, so that all the company’s assets conform to that policy and act accordingly. Employees, communication, partner companies … everything must be in line with business ethics. CSR is not simply carrying out specific charitable or environmental actions but must be a company philosophy,

social responsibility of business

How important is business Social Responsibility?

We are in a time of globalization. Environmental and social problems belong to everyone. Therefore, actions in this regard are also everyone’s responsibility, and we will all benefit from the results. Social responsibility of the business group, we are aware of the importance of the role that companies play in sustainable development due to their ability to proactively generate actions, seeking the concerns and concerns of stakeholders to create solutions voluntarily. Due to the possibility of action and influence, we believe that it is essential for companies to take part and become socially responsible companies, contribute to the improvement, and serve as an example for other companies.

How does Corporate Social Responsibility benefit my company?

Adopting a CSR (Corporate Social Responsibility) culture in your company has numerous advantages, internally and externally:

  • Improves business reputation and provides differential value.
  • Build customer loyalty and increase the possibility of attracting new ones.
  • It also builds loyalty among workers and helps the feeling of belonging.
  • Facilitates access to new market sectors.
  • Encourage innovation.
  • Reduces production costs by implementing energy expenditure minimization processes.
  • It increases the possibility of public contracts and favors applications for awards and recognitions.
  • Reduce risks thanks to codes of conduct.
  • Attract new investors.

How much will it cost me to implement Social Responsibility in my company?

CSR entails a change and, therefore, expenses. However, it is necessary to see this expense as an investment aimed at improving the quality of life of employees, the energy efficiency of the company, and environmental management systems that, in the long run, will pay off, keeping the company alive and growing. Public bodies have realized the importance that responsible companies have in society and, therefore, are taking measures to promote their conversion in aid and subsidies. In Spain, for example, the Ministry of Employment and Social Security has created the Strategy for Corporate Social Responsibility for this purpose and periodically calls for public aid and subsidies to promote Social Responsibility of Business.