Monday, 3 september 2018 | Brenda Rodríguez López
More and more companies are betting on implement policies on Corporate Social Responsibility. This concept reflects a growing trend within the business world. However, its implementation does not always pursue the appropriate goals, respond to a right approach or show coherence with the rest of the business activity. The lack of care, depth, interest or correspondence concerning CSR is not only detrimental to the positive impact of companies outside, but it can also bring about the missing of business opportunities and benefits. Implementing it inadequately can even be counterproductive for companies themselves. What factors are decisive when it comes to betting on CSR policies? Why is it crucial for companies to carry out a good and efficient management of corporate responsibility?
For a long time, companies had only been considered as exclusively economic agents. This approach focusing on the more pragmatic nature of companies left out of the equation something crucial: their great ability to exert influence on other spheres. This reductionist view now seems obsolete. Nowadays, there are few people who question the role of companies in society. Both corporate culture and business activity have a direct and forceful impact on areas as diverse as labor and employment policies, the prevention and protection of health, the environmental care and the development of its legislation as well as the promotion of new movements and cultural trends.
Companies are increasingly valued for being important agents of change in the environment which surrounds them, since they are capable of influencing different dimensions and determining a new course to follow. Their potential is such that they appear as key organisms in the achievement of the Social Development Goals (SDGs). Of course, this generalized awareness of their new role in society has been key to their behavior being more subject than ever to the external judgment, not only from a legislative perspective, but also from an ethical one. The company activity is a reflection of the corporate values, and these ones are increasingly important for customers, especially for the younger generations.
The concept of Corporate Social Responsibility (CSR) was born in the nineties as a result of this change in mindset and the growing interest of citizens in the corporate behavior. It offers a new perspective that defends the responsible management of companies, taking into account their impact inside and outside them and a marked sense of ethics. Since then and over the years, CSR has begun to occupy a prominent place in the strategic planning of companies, but, what happens if the company approach is weak or pretended? What happens if the implementation of CSR policies is not strong and effective?
Why bet on a real and not feigned CSR?
Although the vision of corporate responsibility has evolved as time goes by, many companies still do not understand why the good management of this concept is crucial for their successful future. They are not aware of the effect that a real and effective commitment to CSR can have on them, nor the consequences of betting on a superficial CSR. Corporate Social Responsibility not only has a positive effect on the world that surrounds it, but it also brings great benefits to companies themselves. Although sometimes they are more difficult to quantify than other returns, they are also tangible.
Corporate Social Responsibility:
- Completes and enriches the goals of companies
- Contributes to the increase in investment
- Is attractive. It attracts and retains talent
- Greatly improves the reputation of companies
- Is profitable
- Makes it possible for companies to be more competitive and sustainable
- Achieves the increase in the level of credibility and, therefore, consumers' trust
- Reduces risks and costs
- Allows staff to identify more with the companies