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+--- Thread: How can the improvement of CSR policy influence the stakeholders? (/thread-51902.html)
How can the improvement of CSR policy influence the stakeholders? - .:Nellie:. - 12-17-2012 12:48 PM
How can the improvement of CSR (Corporate social responsibility) influence the stakeholders? How to translate this strategy into right way of marketing?
- Tommy Boy - 12-17-2012 12:56 PM
All stakeholders want to see ONE thing, Return on Investment (ROI). No one invests in a business with the intention of losing money.
Improving CSR policies should also improve the rate of return. Think (RED) as an example. When a customer buys a (RED) product, part of the profits go towards AIDS groups; and it really doesn't effect the product's profitability. My pet store, PetSmart, asks for donations at the counter towards their animal rescue charities. These are just some brief examples of getting customers involved and demonstrating a corporate social conscience.
Small businesses frequently sponsor youth groups like Little League teams. Actions like this show involvement in the community where they do business BUT its also advertising. Everyone in the community sees those ten little baseball shirts that read "Joe's Ice Cream"
Green policies would need to show their cost effectiveness. Is Green truly better? Would it really benefit the Company? How would they impact or change the business?