According to George and Jones (2020), a company’s stance on social responsibility is the way its managers and employees view their duty or obligation to make decisions that protect, enhance, and promote the welfare and well-being of stakeholders and society as a whole. This includes the way the company handles changing demographics and emerging technologies.
Respond to the following in a minimum of 175 words:
What do you consider to be the top three benefits to social responsibility?
How does your organization implement social responsibility initiatives?
Sample Solution
The top three benefits of social responsibility are increased profitability, enhanced brand reputation and improved employee morale. First, companies that practice social responsibility can enjoy increased profitability. This is because consumers tend to purchase products and services from companies they view as responsible corporate citizens. As such, corporate social responsibility (CSR) enables a company to increase its financial returns by creating goodwill among customers who prefer to do business with socially responsible organizations. Additionally, CSR helps to enhance the company’s brand reputation by differentiating it from competitors in the industry. Moreover, a company may be viewed in a more positive light if it can demonstrate that it is paying attention to broader societal issues