Csr Advantages

The classic view of the management stated that the main aim of the company should be the maximization of profits. However this view has changed. Today most companies agree that corporate social responsibility turned into a part of their daily business practice. The main focus should no longer be on profits. CSR activities are important to the public and what is more, nowadays it is expected by the public.

It is in the interest of the firm to give importance to ethical behavior and CSR activities. Although CSR activities and ethical behavior is linked in most firms, it does not guarantee that all CSR activities are of ethical behavior. Corporate social responsibility offers several advantages to the company:

Satisfied Employees

Employees can profit from a company which acts social responsible. CSR activities will increase the satisfaction of the firms employees and employees which have a positive attitude towards the company are less likely to leave the firm. So CSR increases the connection between the employees and the firm and establish a corporate culture.

Satisfied Public

As already mention acting social responsible has increased importance to the public. CSR can help the company to engage with its customers more intense and can be an easy way to get in contact with them.

3) CSR can work as a PR strategy.

CSR sells.Thanks to CSR projects, firms are trying to arouse much more attention and therefore to reach a much bigger audience and open up to new target groups. Companies can benefit from CSR activities and therefore save money from marketing campaigns.

Cost reduction

CSR activities do not necessarily cost money, on the contrary the company can in fact benefit from it. There are several possibilities for cost reduction:

make use of renewable energy or energy saving programs

hire more efficient staff

spend less on marketing campaigns (see (3) above)

More opportunities

There are several form of CSR projects, such as environmental CSR, HR based CSR,...