Corporate social responsibility is a trend amoung many businesses. Companies are doing their bit to others, be it to the consumers, society at large or the environment, in order to maintain good relations and harmony. CSR activities and programmes also help the corporates in many ways. It increases the customer base, improves the image of the company, and builds reputation and goodwill of the company.
Other than non-profit organisations and NGOs for poor children and underprivileged people, there are many companies that undertake CSR activities in order to benefit and give something back to the society. Through such activities they too also benefit. Read on further to know how CSR activities are helping to improve brand image of the company.
Corporate Social Responsibility enhances the company’s image: CSR is another way to advertise the company. When companies provide value to the customers through their products and services, it improves their image in the eyes of the customers. Customers usually like it when they are provided after-sales services and customer support. They feel that the company really cares for them. When companies undertake activities to help solve environmental and civic issues, they garner a reputation for themselves, making themselves known for their good deeds by the public. When the name of the company is on everybody’s lips, then the press also gets involved. And when this happens, word spreads far and wide. All this is good for the company.
CSR increases the profit margin of the company: Undertaking CSR activities instills trust in the customers. When people are aware that a company cares for them, the society and the environment, then they are more inclined towards the company. They tend to buy more products and avail services from the company. This eventually increases the profit margins and long term relationships with the corporate organization.
CSR improves the reputation of the company: Reputation, goodwill and trust are the most important assets of a company. Companies are very careful not to ruin their reputation or goodwill as it would only mean losses for them. Hence, reputation is required to attract the customers, which means steady flow of revenue. One way to enhance the reputation of the company is by adopting CSR practices that would appeal the masses, where they would eventually stay loyal to the company.
CSR activities help in Branding: Branding signifies how one company is different from another. It can be in terms of its logo, product, service, tagline or something unique about the company. Such aspects set the company apart and create an image which they want the public to perceive about the company. Another way to create this differentiation is through corporate social responsibility. The good works of the company differentiates it from others, thereby retaining a good image in the minds of the people.
CSR helps in increasing the attractiveness to investors: One of the criteria that investors look into when pumping in their money into companies is their corporate social responsibility programs. These activities are also important to increase stock prices as it builds trust and confidence in the minds of the shareholders, business partners and associates.
Companies undertake CSR programmes to bring a change in the society, in the lives of the customers and the quality of the environment. In return, businesses gain leverage and increase their position in the corporate world. Other than such businesses, there are also many NGOs for poor children which aim at bettering their lives. NGOs for women empowerment take necessary actions to make the lives of many women better and safer. Plan India is an NGO that is committed towards improving the lives of underprivileged children, especially girls.
Author Bio: Currently working for Plan India, Deepa is passionate about the social work, and improvement of society & girls’ conditions. She loves to share her findings and views through her blogs on social justice, advance children’s rights and equality for girls.