What does it mean for companies to be“socially responsible”?
We can say so-long to the days when social impact was reserved for volunteers and nonprofit organizations.
As consumers become more and more concerned with social and environmental issues we face in the world around us, more and more for-profit companies are responding by joining (and sometimes leading) the fight to tackle those social issues.
When a company is “socially responsible,” it is using its position and resources for something more than its own bottom line. It operates on a business model that focuses on social change, sharing its success with its local and global communities.
This isn’t to say that socially responsible companies are unconcerned with profit (probably not the most sustainable step for for-profit companies).
No—companies are just embracing their responsibility to have a positive impact on the well-being of the communities they benefit from and weaving that obligation into the fibers of their business.
The trend is clear: businesses understand that consumers see the good of society trumping the good of a company’s shareholders and they are responding accordingly. Especially industrial instrument manufacturers like us are closely related to social production.
Companies are increasingly integrating corporate social responsibility (CSR) programs into their business. CSR initiatives can look different for different companies, but it typically entails programs around charitable giving, equal opportunity in the workplace through diversity efforts, volunteerism, and environmentalism. And some companies go further than a program—social responsibility is in their DNA.
How can Companies be More Socially Responsible?
Maybe you're reading this and thinking, “Hey, I want my company to be associated with the socially responsible change-makers in the business world!”
Well, you can start taking steps toward joining the community now.