I recall early in the last decade that companies didn’t respond to calls for corporate social responsibility because consumers didn’t care. That seems to have changed, which is a very good thing. Since then, corporations have had to accommodate the growing concerns of people and have even gone so far to create new brands that focus on ethical behaviour. The consumer times are changing!
Treatment of employees is the biggest factor (45%) when people decide how responsible a company is. Environmental impact follows close behind (38%). Transparency, corporate oversight, and impact on society are also important factors.
Companies shouldnâ€™t think that the trend towards socially-responsible purchasing means that they can just claim that their products are “green” and call it a day. According to the survey, 63% of people trust company claims about social responsibility only sometimes–when they do verify information, itâ€™s often by reading product packaging, checking out the news, and doing independent research.
noradawn wrote us to tell us about corporate social responsibility (CSR):
“Are corporate giants waking up? The increase of public demand for more sustainable and socially responsible practices is causing the giants of the business world to reevaluate how they do things and start implementing new practices. In essence, doing what they can to save the world. This practice commonly called CSR is being seen more and more in giants such as Wal-Mart, Levi & Strauss, and Hasbro to name a few.
The trend was started by smaller, socially and environmentally aware companies such as Tom’s of maine toothpaste and Ben and Jerry’s ice cream, who pioneered this concept…and wound up having incredible growth rates. In turn, this caused the larger companies to turn their heads to see what they were doing right from a business perspective. As a result, it looks like it is the new trend that is emerging, and the corporate giants…many of whom have more capital than some entire countries- are the ones with the dollars and cents to really help in making a big difference.”
For more on CSR this noradawn suggests this good article on CSR.
Thanks noradawn for sharing this!