CSR: a benefit for the economy
More and more, companies in Germany and across Europe are realizing that CSR is not a luxury, but a benefit for the business. Especially smaller, family-run companies often feel an obligation to contribute to sustainable economic practices. Many business owners feel that it is their responsibility to give back to and to make a positive impact on society, their staff and the environment. They see corporate responsibility as a normative, moral obligation.
Beside ethics, there are several aspects of CSR that directly affect growth and stability of companies. Certainly, a good reputation that goes along with CSR helps building customer loyalty and employees dedication, as it builds confidence in responsibility and care for society and nature. Companies that apply CSR position themselves better on the market and improve their image rapidly.
Sustainability as an imperative to CSR is not only concerned with preservation of natural resources, but reduction of energy costs that positively affects the growth. Energy efficiency is therefore a combination of responsible business and rational cost management, all complying with CSR.
There is a number of benefits that comes with integrating CSR into business practice: risk minimisation is certainly one of them. When a company's occupational safety and health management is in good shape, costs are lower. There are fewer accident-related interruptions of production and workers miss fewer working days.
The efforts to promote CSR and implement its management principles are vital to the economy. More and more, companies are adopting CSR realizing its benefits and contributing to better relations between business, society and nature.
Author: Global Impact Grid