What is CSR?
Corporate Social Responsibility (CSR) is when a cooperate operates in a sustainable, social, and ethical manner. It encapsulates the initiatives by which a company takes a community, social, and environmental responsibilities concerned in their business operations and interactions with their stakeholders.
CSR gain is beyond the company’s profits and the benefits of CSR speak volumes about how important it is and why you should make an effort to adopt it in your business. Tiger Global is the leading corporate social responsibility company in the UK that follows CSR principles and strategies to save the planet.
The evolution of corporate social responsibility
Harking back to the 1950s and 60s, organisations understood that it was to their greatest advantage to reward the community from which they are reaping benefits, so philanthropy was the main avenue of CSR activity.
Today, we’re seeing a more holistic approach where the full range of CSR strategies are embraced: environmental, social, and governance.
Significant Role of Corporate Social Responsibility?
Apart from the undeniable profits, proper CSR strategies will drive up social gains, community trust, better sales, brightest employees, and ratchet up your overall brand value.
Improved Brand Value
Socially responsible companies’ activities can reinforce both an organisation's image and brand. By portraying a positive picture through CSR, a company can make a name for itself for not only being successful in what they do but by being socially conscious too. Brand image will favorably attract potential customers from distinct regions of the world.
Increased Customers Engagement
Since the message of CSR is about something ‘good’ it can often be an easy way to connect with your potential customers across the globe. Creating this positive and ethical relationship with customers and the wider community can lead to a potential increase in sales and rising profits.
Individuals like to collaborate with a company that has CSR ambitions in place – as a company’s greatest asset is its people. Corporate responsibility can help a company to build the best workforce possible as companies that demonstrate impact initiatives will have an easier time recruiting a talented workforce.
Encourages Innovation and Collaboration
Social good activities encourage employees to become more innovative and collaborative. CSR activities encourage employees to learn about potential clients, communication skills, improve leadership, and invaluable local insights that allow the company to flourish within its market.
Employees tend to perform better when they are engaged in social responsibilities. Great CSR programs are proven to effectively build entrepreneurs and team members more economically.
Ethical Practice commitment of corporate social responsibility companies in the UK increases brand awareness and recognition which creates increased brand awareness.
Many simple changes in favour of sustainability, will help to decrease your production costs.
Tiger Global suppliers are committed to enriching communities and the environment through our long-term strategies, which include sustainable supply chains and conducting business responsibly underpinned by a Corporate Social Responsibility policy agenda. CSR concept is addressed at all levels of our business strategies and supply chain.