Business for social responsibility is an aspect that can be incorporated in all the aspects of the business such as procurement, marketing, and sales, waste management. No business operations should affect society in any negative way therefore it must adopt a responsible sourcing strategy.
At first, the whole concept was based on statutory requirements that expect businesses to contribute a part of their annual profits towards improving the wellbeing of society. There has been a notable shift in the perception of business for social responsibility. Consumers have become more careful of where they let their money flow. Many people make sure to buy products and services from companies that show some form of concern for the environment. It has been noted that companies that display responsible behaviour have high brand loyalty and have a high number of return customers from the communities.
To increase their business operations, companies need to use business for responsibility as a way of drawing customers to their business.
There are other ways of displaying responsible behaviour:
- Increasing fairness to employees of the business
- Increasing the company's volunteer efforts
- Increasing employee support services Increasing donations
- Increasing support to local schools and learning institutions
Because business for social responsibility is a permanent aspect of businesses, it should be undertaken in a way that will improve the relations between the company and the neighbouring communities, and intra company relations at all levels of management. Regardless of the reasons why you undertake the responsibility, if it is here to stay, business operations can be made fun using the business.
Ways of improving business for social responsibility
Interactions between the company, employees, and the communities are all about relationships. One way of making social responsibility fun is by building these relationships. Increasing transparency of decision-making processes and operations will increase the trust of local communities. Rewarding employees for the work they do is another way of improving relationships.
Responsible sourcing strategy involves increasing interactions with the local communities. Companies should strive to participate in company organised events to gain the community's support in later projects. Community involvement as a way of increasing business for social responsibility can be done through making donations towards fundraisers and volunteering for community projects.
Investing in human capital
For any business to grow there must be an increase in knowledge and training. There should be increased capacity-building seminars and conferences to challenge employees and avoid boredom from dulling the work environment.
Promoting business for social responsibility is a great strategy for improving the livelihoods of the local communities and the employees of a company. Companies can also use this responsible sourcing strategy as a way of increasing their visibility and enhancing customer loyalty.
In the end, the company will benefit from the positive testimonials from employees and the community and this will improve the longevity of the company. Join the community of responsible sourcing strategy where you will balance all three important and core aspects of your business that is people, planet, and profit.