Corporate Social Responsibility
- In today’s business climate, it’s not enough for companies to produce great products at reasonable prices.
- Customers expect the companies they do business with to use their resources and influence to bring positive change to the world.
- CSR is the concept of incorporating philanthropy and ethics into business practices to benefit both society and the company itself.
- CSR philanthropy represents a company’s efforts to give back to the community and patrons through charitable donations and more.
The Benefits of Corporate Social Spending
- Increase in customer retention
- Enhanced brand awareness
- Differentiates the company from its competitors
- Enhances company’s influence in the industry and creates a competitive advantage
- Long-term Sustainability
- Winning new business
- Increased customer loyalty
- Media interest and an enhanced public image, reputation and trust
- Positive Impact on society that may return dividends in enhanced spending
Perspectives on CSR Spending
% of Investors which rank CSR reports as important when evaluating a company
78%
% of Consumers which aim to support socially responsible companies
77%
% of Employees which believe that companies must lead with purpose
93%
% of Individuals who would like to know about a company's CSR efforts
88%
% who would buy a product that supports a good cause
92%
Perspectives on CSR Spending
64% of CEOs believe that CSR is core to their business strategy.
90% of Clobal consumers are likely to switch brands to one associated with good cause
90% of Clobal consumers are likely to switch brands to one associated with good cause
88% of Consumers are more loyal to these kinds of companies as well.
Advantages of Social Responsibility Spending
% of millenials that claim to have made a CSR-driven purchase in the past year.
43%
% of companies that globally see CSR as a way to dfferentiate themselves from competitors
42%