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What is exactly CSR and why should we care about it?

Published February 27, 2012 by oliviadufour

As individuals are facing many global issues everyday, companies are taking roles to save the world by implementing policies for responsible practices into daily business operations. This action is known as “Corporate Social Responsibility” (CSR).

When shopping online, many of us will come across a link on the footer section of companies’ home page or their under “About US” page, stating “Corporate Responsibility” or “Being a Responsible Company” or “Responsibility.” These links lead us to pages explaining how companies are being committed to being socially responsible. Their responsibilities can include combating environmental-related issues, minimizing hazardous labor conditions, donating their profits to non-profit organizations, or participating in volunteer activities in their communities.

Companies are sharing their CSR reports because more and more consumers are becoming concerned about companies’ commitments to being socially responsible. 89% of millenials say they are likely to switch brands if linked to a cause. 69% of millenials consider companies’ CSR reputation when deciding where to shop.

Furthermore, companies’ CSR reputation are also affecting employees’ decision on where they should work. 61% of millenials say that if they were given two job offers, they would choose the one that is committed to CSR.

At last, companies play a large role in creating an impact on the society. They hire people and determine the living wages, working hours, and the design of workplaces. They also determine how well employees can become engaged by volunteering for and donating to non-profit organizations. Employees’ lives are affected by their working conditions. Many of companies’ products come from natural resources. The way companies obtain natural resources and build their facilities impact the environment.

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