Most businesses find social responsibility gives competitive edge
Corporate social responsibility (CSR) isn’t just a PR move for businesses, states a new survey conducted for IBM entitled, “Attaining Sustainable Growth Through Corporate Social Responsibility.” CSR is a way for businesses to be more competitive and create more opportunities, leading to growth. Sixty-eight percent of businesses surveyed said that focusing on CSR issues generates revenue, while 54% of businesses said that CSR helps give them a competitive edge.
Consumers, armed with the information found on the Internet, are the driving force behind companies increased attention to CSR activities the study suggests. However, it reports that 76% of responding businesses said that they “don’t truly understand their customers’ CSR concerns.”
The number of advocacy groups reporting on companies CSR activities has grown substantially in the last three years, 75% of businesses noted, as has the amount of information businesses are providing about the environmental and social impact of their manufacturing, supply chain, and products.
source: socialfunds.com