In the 1970s, economics wunderkind Milton Friedman described corporate social responsibility, CSR, as a suicidal impulse. To him, success in business was all about the bottom line. Forty years later, corporate social responsibility is not just the right thing to do, it’s the bright thing to do. Today it’s good business.
The Law of Attraction
The truth is that most of us realize that we can’t single-handedly make the difference when it comes to global ills, but most of us would like to make a difference—even a small one—in our own communities. Why should good citizenship be anathema to corporate success?
When what matters to your customers matters to you, you’ve gone from mere customer service to customer care — and that’s a partnership with a guarantee of success. Why? Because the return on your investment is guaranteed by these forms of payback:
Your company’s commitment to the local community can draw the cream of the crop among talented job hunters, and your sustained commitment may help keep them there. For many young up-and-coming employees, community outreach can make getting up and fighting rush hour traffic more worthwhile.
The Power of Goodwill
Corporate social responsibility is a kind of GPS marker, singling out your company as an ally of the community. It can position you as a change agent in your region.
The Power of Passion
CSR is itself a form of currency. As your corporate rep grows so does the public’s trust, and this can translate into increased revenue.
Exercising CSR can be as basic as turning off lights and powering down electronics to conserve energy. Simple but impactful. Your organization might set out to reduce its carbon footprint by conducting more teleconferences and reducing its frequent flyer miles.
Increasing AIDS awareness? Fundraising for breast cancer research? Volunteering to increase adult literacy? What fuels the passions of your colleagues? The answer to that question may be the threshold of your own CSR campaign.
The bottom line: Investing your company’s time, talent, energy and finances in your community is a win-win. To find out more about making your company socially responsible, contact Magnovo Training Group.