There’s no gaining without giving. If a company is making huge profits from society, it becomes their prime duty to give back society some valuable things back. This is when CSR comes into play. CSR is called Corporate Social Responsibility and it ensures that the company helps society cope up with issues like health issues, illiteracy, women issues etc. CSR is the way through which a company achieves a balance of economic, environmental and social imperatives. CSR will enhance the company’s reputation and make its brand stronger.
A company, no matter the size, can gain huge advantages from conducting CSR activities. Targeting the problems of society and letting your resources and manpower to cure them will have advantages such as:
- Strengthening the brand
- Financial performance gets better
- The company gets easier access to capital
- New consumers get attracted and existing consumers get more loyal
- Skyrocket the reputation
