Oskar Wallin Comm 101

Cole and Parker which is a company that sells high end socks are doing a very interesting promotion. Twenty percent of their profits go to aspiring entrepreneurs in developing countries. Corporate social responsibility like this can be useful for a business despite the high costs it entails.

Companies that display corporate social responsibility are often appreciated and encouraged by the public. This may lead to higher sales revenue. In addition to that, a unique idea like this gives the company a lot of positive exposure. You could even argue that this is a sustainable unique selling point. They are aiming to improve economies in a way that most charities don’t.

Twenty percent is of profit is a lot to give away. What intrigues me is how a company in the private sector is able to do this and why they are willing to do it. To understand this, it is important to be aware of the significant benefits of CSR. These include improved costumer loyalty, costumer retention, increased exposure and improved reputation. As a private sector business, the aim is to provide profits. CSR is important in terms of decency but ore importantly, it can be beneficial in terms of revenue and exposure too.

Works Cited:

Meyer, Sean. “Kickstarting Entrepreneurs.” London Community News. N.p., n.d. Web. 13 Nov. 2015. <http://www.londoncommunitynews.com/news-story/4409198-kickstarting-entrepreneurs-by-selling-the-jazziest-of-socks/>.