Etini
Valued Contributor
According to Wikipedia, Corporate social responsibility (CSR) is a form of international private business self-regulation which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in or supporting volunteered or ethically oriented practices. In clear terms, it is the system where a business organization contributes to its host community and society as payback for allowing them to do business. So many businesses fail in this area and they don't know that it is going to affect every aspect of their business. First, corporate social responsibility launders the image of a business organization positively. Take, for instance, a company that pays school fees for two children from its host community every school term. As small as that is, that organization would always have a positive image and you know what a positive reputation does for every business.
Secondly, it would increase your patronage and ultimately your revenue. Just imagine that because of your reputation as a good organization. that contributes to societal development, every person in your host community would want to patronize you. That is one market segment impossible for your competitors to break into.
Thirdly, you would enjoy waiver privileges from the community. Seeing that you contribute to their society, rules would be made in a way that favors you. And that privilege can help your business grow.
Secondly, it would increase your patronage and ultimately your revenue. Just imagine that because of your reputation as a good organization. that contributes to societal development, every person in your host community would want to patronize you. That is one market segment impossible for your competitors to break into.
Thirdly, you would enjoy waiver privileges from the community. Seeing that you contribute to their society, rules would be made in a way that favors you. And that privilege can help your business grow.
