Modern businesses are expected to care about making the world a better place. People expect them to serve their communities, listen to their consumers, take public positions and take action on critical topics, value and support their employees, work toward sustainability, and respond to current events. One of the ways businesses meet these expectations is through CSR (corporate social responsibility) activities. Here are some examples of CSR strategies.
In this strategy, the environment is the main focus of CSR. Businesses of all sizes have enormous carbon footprints. Any efforts a firm may take to lower its carbon footprint or reduce pollution are beneficial to both the company and society.
Johnson & Johnson’s CSR strategy is a good example of this. Their projects span from harnessing the power of the wind to delivering clean water to people all around the world. With the purchase of a privately owned energy supplier in the Texas Panhandle, the company was able to reduce pollution while also providing a renewable, cost-effective alternative to electricity. The company is still looking for renewable energy choices, with the objective of meeting 100% of its energy needs with renewables by 2025.
Businesses can practise social responsibility by providing money, goods, or services to charitable organisations and social causes. Larger corporations typically have an abundance of resources that can help charities and local community activities but small businesses’ actions can also make a difference. If you have a specific charity or initiative in mind, contact the organisation and enquire about their unique requirements and whether a donation of money, time, or your company’s products would be most beneficial.
Pfizer takes a three-pronged approach in this area: product donations, grants, and access solutions. In the aftermath of Hurricane Matthew and the worldwide refugee crisis in Europe and the Middle East, grants have been made available to nations such as Haiti. This money is offered in collaboration with non-governmental organisations in order to reach as many people as possible.
During the COVID-19 epidemic, Pfizer gave $5 million through its Global Medical Grants program to help enhance patient recognition, diagnosis, treatment, and management. Grants were also made available to clinics, medical centres, and hospitals in order to improve the management and outcomes of COVID-19 patients.
Companies can demonstrate their commitment to CSR by treating their employees fairly and ethically. Social responsibility begins with your company’s culture and internal community. Companies that keep this in mind create settings where their staff can thrive and excel.
Good examples of this are Netflix and Spotify. Netflix provides both birth and non-birth parents with 52 weeks of paid parental leave. This can be done at any time, whether it is during the child’s first year of life or at another period that meets their needs. This is in comparison to a median of 18 weeks at other major tech firms. Spotify has a similar policy, albeit for a shorter period of time (24 weeks of paid vacation). The organisation believes that the launch of this program resulted in an increase in external job applications.
Economic responsibility projects entail enhancing a company’s business operations while engaging in sustainable activities, such as employing a new manufacturing process to reduce waste.
Coca-Cola, as a brand, places a strong emphasis on sustainability. Climate, packaging, and agriculture, as well as water stewardship and product quality, are significant issues. Their mission is ‘a world without waste,’ and they intend to collect and recycle every bottle, make their packaging 100% recyclable, and return all water used in the production of their drinks to the environment to maintain water security. They hope to have reduced their carbon footprint by 25% by 2030.
Participating in local causes or volunteering your time and the time of your employees to community activities speaks volumes about the sincerity of your firm. When your organisation performs charitable acts without expecting anything in return, you exhibit concern (and support) for specific issues and social causes.
A good example of this CSR program is Colgate’s corporate volunteering program called Colgate Cares Day, on which teams all around the world give back to their communities in order to make the world a little healthier. These initiatives revolve around dental healthcare in order to relate their employee volunteer programs to their core business.
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