It is now widely recognised that social responsibility is a cornerstone to improved competitive advantage. This is clearly evidenced by the many small organisations that have successfully taken on multi-national corporations and used their social responsibility as a powerful business tool.
Many organisations already have an ethos of social responsibility embedded in their operational philosophy while others are having to work to establish a new culture. Also, the drivers will vary between organisations, ranging from social conscience through to pressure from shareholders.
However, the key benefits are very similar, whatever the drivers:
- Meeting demand for new products and services that reflect the growing social consciousness of your customer base
- Improving product/service quality and health and safety issues, generating higher levels of customer trust and satisfaction
- Enhancing the brand image and perception of customers
- Playing a leading role within your sector and community
- Broadening opportunities for partnering with like-minded organisations
- Facilitating access to resources and investors
- Increased potential for additional revenue streams (e.g. selling ‘waste’ to organisations that can use it in their processes)