Saving the World Like Private Ryan; Corporate Social Responsibility

Earlier in this course, we discussed CSR. Corporate Social Responsibility underlines the business ethics and how firms contribute to society–whether they are impacting society or adding value. In the current business world there is clear evidence that proves that eco-friendly and socially responsible businesses have higher profitability ceilings due to consumer reaction. The Forbes article by Richard Levick indicates that:

“More than half the consumers surveyed by Havas want to reward responsible companies by buying their products. 53% would even pay a 10% premium for those products” (Forbes, 2).

This article also highlights the transition into established CSR programs such as green initiatives, health and anti-hunger plans, and sustainability are investments that somehow reach consumer needs due to the contribution firms are bringing to the world. To me, it appears that CSR is seemingly the act of companies being environmental and sustainable according to the Maclean’s article. However, CSR in “today’s model [is] based on impact,…value-creating,…[and to] provide the tools with which society can improve itself” (Forbes, 2). These quotations indicate that the success of Steve Jobs or even Nike+ is that their products are adding value and making our lives more efficient not necessarily their environmental contributions or cutting costs in a way that consumers support.

Sources:

http://www.forbes.com/sites/richardlevick/2012/01/11/corporate-social-responsibility-for-profit/

http://www2.macleans.ca/2011/06/09/better-business/