Sunday, March 31st, 2013
Normally in my blog post I promote and talk up the good things about social responsibility. Today I want to shift a little, and talk about some challenges and disadvantages that go along with being Socially Responsible.
Cost- Efforts such as event sponsorship, charitable donations, product donations and commitment to voluntary environmental standards all cost money that a company is unlikely to make back in the short term. This means less money for stockholders and less money to invest back into the company for future growth.
Fairness- Companies can select any charity or organization out of a long list of socially needed foundations. The board members or head of the social responsibility campaign make the ultimate decision and often times let their bias and opinions affect their judgment of what is best for the company.
Unintended Consequences- Social responsibility can have unintended and unanticipated consequences for businesses. When a business’ exercises social responsibility that conflicts with government efforts to do the same thing, it confuses members of the public by offering a new, and perhaps temporary, option for solving a specific social problem. This can cause taxpayers to resent their government for supplying a service that a private business also pays for.
Enhanced Scrutiny- A company that undertakes a socially responsible course falls under increased scrutiny from critics, customers and competitors. If a company regularly supports a local charity but withdraws its sponsorship during a period of financial hardship often appear overly concerned with its bottom dollar insensitive to public concerns.
Related Links: Small Biz, eHow, Wiki, Related Blog, Corporate Watch
Tuesday, March 12th, 2013
Home Depot is a different kind of company that is Socially Responsible away from the food/clothing area. Their main goal is to help the environment.
Home Depot a does a great deal of recycling. They are committed to recycling as much product as possible, whenever possible in all operations. They source recycled content for our shopping bags, signage, and office supplies. They recycle all of our corrugated cardboard and wood pallets, and have programs to keep drywall separators out of landfills by recycling them into usable product.
The Home Depot is also committed to providing greenhouse gas reduction efforts. In March 2010, the Company set energy use and
greenhouse gas emissions reduction targets for 2015, and began the process of calculating its comprehensive carbon footprint to establish a baseline for
future greenhouse gas emissions reduction.
Home Deport also created a Wood Purchasing Policy, which pledged to give preference to wood that has come from forests managed in a responsible way and to eliminate wood purchases from endangered regions of the world.
Home Depot follows a list of principles and guidelines to help them to most effectively conserve the environment, and please their customers
The 8 Principles Home Depot Follows
Home Depot has done a number of other things for the environment and the community to learn more visit the below links.
Related Links: Home Depot, Essay, Home Depot Foundation, Disaster Relief, Team Depot
Thursday, March 7th, 2013
After talking about a couple of “Socially Responsible Companies” and how they are socially responsible I feel it is now time to explain why companies should be Socially Responsible?
Social Responsiblity creates goodwill and a positive image for the brand. By becoming socially responsible it can help establish trust and good assets.Without things these wouldn’t even be a business.
Also, due to the use of social responsibility companies can see an increase in employee commitment, performance and job satisfaction. This is turn reduces your recruitment costs and improves work productivity.
Branding your business as ‘socially responsible’ differentiates you from your competitors. Developing products that are environmentally or socially responsible adds value and gives people a good reason to buy from you.
Another reason companies should be social responsible is because investors and financiers are attracted to companies who are socially responsible. These decision-makers know this reflects good management and a positive reputation. This could even be the deciding factor in someone choosing to support your company.
If a business is socially responsible it’s staff can develop their leadership and project management skills through a corporate social responsibility program by using team building exercises, encouraging your employees to form relationships with people they would not normally meet.
Being socially sesponsible is also very cost effective, environmental involvement such as recycling and conserving energy increase in-house efficiency and cut costs. Introducing a corporate social responsibility program gives you a good reason to examine and improve on your spending cost and budgeting.
Related links: Article, Time Magazine, Blog, Truist, MovingWorlds
In my next two post I will go back to talking about a couple more “Socially Responsible” companies.
Sunday, March 3rd, 2013
Another Company that is widely Socially Responsible is Avon. Avon is a company that sells a vast variety of products for women such as lotions, makeups,and jewlery ect.
Avon is a large activist in Corporate Responsibility. One thing they have done is create the Avon Foundation for Women, to help improve the life of women all over. They donated more than $910 million in more than 50 countries for causes most important to women. Another things they have done is promote Brest Cancer Awareness by creating the Avon Brest Cancer Crusade. They are the leading corporate supporter globally of the breast cancer cause, having raised and donated more than $780 million to fund life-saving breast cancer research and access to quality care. Avon has also provided services against the violence of women, which is dedicated to the empowerment of omen globally and have raised more than $50 million dollars towards this cause by selling product of their site, and donating the profits. Lastly, Avon helps provide fast emergency Relief. Avon has given $19 million to women and their families affected by natural disasters or crises, including $7 million to support the families of those who lost their lives in the September 11, 2001 terrorist attacks.
This is what one customer had to say about Avon’s use of Corporate Responsibilities:
To learn more about the things Avon does to help the community and become apart of their movement follow the links below.
Related Links: Avon’s Corporate Responsibility Report, Avon Foundation for Women, Brest Cancer Crusade, Violence against Women, Emergency Relief, Blog