Today we celebrate Earth Day. We started dedicating a day to celebrating the Earth in 1970 to raise public awareness for the need to protect our environment. Businesses play a huge part in the state of our environment, using corporate social responsibility programs to manage the business’ effects on society and the planet. While we should be checking in on our business’ corporate social responsibility program on a regular basis, Earth Day is a great day to reevaluate where your program stands. Better yet, today is a great day to start a program for businesses that do not currently have one.
Corporate social responsibility programs are important to customers. A.T. Kearney released a report today stating that 70% of shoppers consider the environmental impact of the things they’re buying. The vast majority of consumers are attempting to make environmentally conscious choices during the course of their spending. Customers feel good about spending money with environmentally and socially responsible businesses, which generates repeat customers. Businesses can use this as an opportunity to grow top line revenue when keeping this in mind.
The results of corporate social responsibility programs can also positively affect business’ cost base. Programs that include energy and water consumption reduction will help the environment while lowering the costs incurred by the business. Sourcing and shipping policies can be revised such that more efficient delivery methods are used, thus lowering transportation costs while reducing carbon footprint.
The bottom line therefore is that being socially responsible is just good business. Customers get the products and experience they desire. Businesses generate more revenue while saving money. Earth is preserved for future generations. Businesses and society mutually benefit from corporate social responsibility programs.
#EarthDay #Environment #CorporateSocialResponsibility #CSR #Business #Management #MatsenConsulting
(Originally published on LinkedIn on April 22, 2019)
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