Is a better community in the best interest of the company? Should a business even care?
Social Responsibility and a Better Community-- In the Best Interest of Business
*A better community attracts and keeps better employees (i.e., nice places to live in, little crime, cultural activities, good schools, etc.).
*A better community improves the morale and thus productivity...perhaps less strikes, discipline problems, alcohol, drugs (i.e., cultural and recreational opportunities, sports teams, etc.).
*A better community provides the infrastructure and services that the company and employees need - as roads, water, electricity, sewage, police and fire protection, hospitals, stores, etc.
*A more prosperous community means a better market (sales).
*A healthier community means healthier workers and less lost time.
*Social responsibility means a better image and better public relations which cause greater sales and cooperation.
*Social responsibility means less law suits and less government intervention, all of which are very costly.
*The firm gains the confidence of the consumer (sales) & respect of the workers, which mean less labor problems.
*Hospitals and good health care minimize lost time.
*Good stores make supplies easily available to business and its employees.
*Good schools mean better employees.
*A good community attracts good professional people from the outside and keeps them from leaving the company.
*A good reputation attracts capital through loans or sales of stock.
*Social responsibility prevents problems. Cures are costly.
*The public expects social responsibility to match its power. Greater long-run profits and a higher stock price will follow since the company is less open to public attack and gains the respect of the people.
How Can Business Contribute to Community Development?
*Donations of money, expertise, equipment and materials to locate charities and schools.
*Summer jobs, internships, and scholarships to college students.
*Advising local institutions in legal matters, management, finances, etc.
*Plant visits for students.
*Sending experts to give talks at schools, clubs and groups.
*Encourage employees to do voluntary community work.
*Hire the handicapped and hard core unemployed and train them as well.
*Help with fund raising.
*Social responsibility means a better image and better public relations which cause greater sales and cooperation.
*Social responsibility means less law suits and less government intervention, all of which are very costly.
*The firm gains the confidence of the consumer (sales) & respect of the workers, which mean less labor problems.
*Hospitals and good health care minimize lost time.
*Good stores make supplies easily available to business and its employees.
*Good schools mean better employees.
*A good community attracts good professional people from the outside and keeps them from leaving the company.
*A good reputation attracts capital through loans or sales of stock.
*Social responsibility prevents problems. Cures are costly.
*The public expects social responsibility to match its power. Greater long-run profits and a higher stock price will follow since the company is less open to public attack and gains the respect of the people.
How Can Business Contribute to Community Development?
*Donations of money, expertise, equipment and materials to locate charities and schools.
*Summer jobs, internships, and scholarships to college students.
*Advising local institutions in legal matters, management, finances, etc.
*Plant visits for students.
*Sending experts to give talks at schools, clubs and groups.
*Encourage employees to do voluntary community work.
*Hire the handicapped and hard core unemployed and train them as well.
*Help with fund raising.
*Social responsibility means a better image and better public relations which cause greater sales and cooperation.
*Social responsibility means less law suits and less government intervention, all of which are very costly.
*The firm gains the confidence of the consumer (sales) & respect of the workers, which mean less labor problems.
*Hospitals and good health care minimize lost time.
*Good stores make supplies easily available to business and its employees.
*Good schools mean better employees.
*A good community attracts good professional people from the outside and keeps them from leaving the company.
*A good reputation attracts capital through loans or sales of stock.
*Sponsor sports teams, projects and activities in the community.
*Award coupons to children for reading books, good grades, etc.
*Help schools that collect proofs of purchase.
Business has the financial resources, technical expertise, and managerial talent to do all of this and still make a profit. Of course, a business is not a charitable institution. But, it can do something. As Bob Evans said, “Business can give something back to the community.”
How You Can Organize a Social Responsibility Program in Your Company
- Obtain the commitment of top management.....their example and support.
- Appoint a Planning Committee.
- Appoint a director to form policies and help the departments to understand and live up to its social responsibilities.
- Do an annual Social Audit to evaluate how the firm is doing regarding social responsibility in its operations.
- Assure that performance appraisals include social responsibility.
- Hire people who are ethical and socially responsible.
- Conduct Ethics Training.
- Draw up a Code of Conduct.
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