People are now asking more and more questions as to how firms are manufacturing their products as well as wanting to know where the materials are coming from. Potential customers are now more likely to go with a supplier who has taken onboard corporate social responsibility.
Academic studies have shown that a company who operates directly with social responsibility are likely to do better in business than those that dont.
A 1997 DePaul University study found that companies with a defined corporate commitment to ethical principles do better financially (based on annual sales/revenues) than companies that don’t.
Corporate Social Responsibility is still voluntary, yet as more people are becoming aware, they are interested in only purchasing products and supplies with firms that are actively practicing CSR.
The unfortunate thing is that a large percentage of firms believe that to integrate their business with CSR in mind would be too costly. However, this is a misconception.
Being aware of how we are affecting the environment, such as using too much water, leaving lights on, leaving windows open, not recycling or using un-recycled materials...
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