From picking eco friendly resources and operations, to looking after the wellbeing of employees, companies can do so much in terms of their positive impact on society
There are many levels of corporate social responsibility to be thought about, and while quite a lot of them would focus on the external contributions that a company could make to society, some attempt to make their own internal operation reach their full capacity of sustainability first. Looking after employee welfare is still going to make a positive effect in the bigger scale, as somebody’s work life does not exist in a vacuum, and if every individual lived with the awareness that they were going to be looked after and treated reasonably, it would develop the collective mood and wellbeing of a community in its entirety. Businesses like DocuSign’s venture capital shareholder can surely care about how practices that improve employee satisfaction can add worth to a company. Whether it be by creating an environment where discussion and constructive criticism are encouraged regardless of hierarchy, or allowing some flexibility for the employees to best discover the balance that works for them, there is a variety of solutions to be thought about for these examples of corporate social responsibility.
Taking good care of the planet we live on ought to be part of everybody’s responsibilities, from individuals to major corporations. For this reason, it is quite simple to come across assorted examples of sustainability and corporate social responsibility examples, as it is a cause that is helpful to the whole planet, in the long run. Especially in recent years, with a worldwide growing interest in what’s greatest for the environment, firms have initiated implementing earth-friendly practices in their operations, be it settling on raw materials that do not affect the environment negatively when they are extracted, or being sure that the products and services are delivered and used with the least volume of waste possible. As businesses like Telecom Italia’s activist shareholder will realise, even simply switching a business’s electrical supply to a provider that uses renewables can make a tremendous influence, if we give some thought to the industrial scale at which energy is needed.
If somebody was to ask the question: what is the purpose of corporate social responsibility? The biggest answers would likely be associated with some prominent charitable causes that are always aided by philanthropy. Companies have so many options when it comes to support a cause: this can be done with easy monetary donations, for instance directing a portion of their revenue to a charitable organisation. Other businesses may opt to provide varied kinds of help, which might be in the form of working hours, incentivising their workers to volunteer for a few of the time they would otherwise spend in the workplace. As Jimmy Fairly’s private equity shareholder will appreciate, some businesses even opt to donate their own products to those who may need them for each item that they sell.