Post by account_disabled on Mar 9, 2024 11:04:46 GMT
A socially responsible initiative is taking voluntary measures that are not prescribed by law or are not necessary to comply with a regulation.
According to a study conducted by the Reputation Institute, a management consultancy, it was found that people's willingness to buy, recommend, work for, or invest in a company is significantly influenced by their perceptions of its CSR practices . Therefore, taking actions that benefit people can lead to higher sales, increase company valuation, and keep good employees longer.
In the face of COVID-19, fashion brands such as LVMH, Chanel and L'Oreal are transforming their factories to produce face masks, while alcohol and beer makers Anheuser-Busch, Diageo, Molson Coors and Bacardi are shifting some of their production. and distribution towards hand sanitizers.
Separately, automakers Toyota, Volkswagen Chile Mobile Number List and Fiat Chrysler are leveraging their 3D printing capabilities to produce face shields and are partnering with other companies to make ventilators.
These are just a few examples, but hundreds of companies around the world have committed money, supplies and expertise to help with the COVID-19 response,
actions do not contribute significantly to society, on the contrary, your cooperation and help is very welcome, but also the fact of not doing your part could result in a long-term blow to the reputation of a company.
Helping out of convenience in the crisis?
In another different area are actions of convenience, which are not related to altruistic or CSR actions.
Convenient actions are those that at first glance could be perceived as having disinterested purposes but that have as a background a benefit for the person who carries them out.
For example, one of the motivators that has made some companies get to work is avoiding government regulation, since this becomes a greater risk during and after a crisis.
One such case came when we saw increased financial regulation after Wall Street's behavior sparked the Great Recession, and lawmakers in hurricane districts tended to support bills that promoted increased environmental regulation.
Companies will often seek voluntary self-regulation and take other proactive measures during a crisis in hopes of preventing a more onerous government reaction.
A recent Stanford study found that even a modest effort can work to effectively avoid regulation.
Furthermore, this allows companies to set the terms and control the agenda, allowing them to choose actions that are in the interest of society, profitable, and avoid the costs and hassles of complying with new regulations.
With this we do not want to tell you that actions in favor of society are good or bad, on the contrary: they are all appreciated and as long as they contribute something beneficial to those who need it most, they will be well received, but it is also important that you consider which ones could have other strategic motivations. of who carries them out. What do you think about it? Did you know this type of actions.
According to a study conducted by the Reputation Institute, a management consultancy, it was found that people's willingness to buy, recommend, work for, or invest in a company is significantly influenced by their perceptions of its CSR practices . Therefore, taking actions that benefit people can lead to higher sales, increase company valuation, and keep good employees longer.
In the face of COVID-19, fashion brands such as LVMH, Chanel and L'Oreal are transforming their factories to produce face masks, while alcohol and beer makers Anheuser-Busch, Diageo, Molson Coors and Bacardi are shifting some of their production. and distribution towards hand sanitizers.
Separately, automakers Toyota, Volkswagen Chile Mobile Number List and Fiat Chrysler are leveraging their 3D printing capabilities to produce face shields and are partnering with other companies to make ventilators.
These are just a few examples, but hundreds of companies around the world have committed money, supplies and expertise to help with the COVID-19 response,
actions do not contribute significantly to society, on the contrary, your cooperation and help is very welcome, but also the fact of not doing your part could result in a long-term blow to the reputation of a company.
Helping out of convenience in the crisis?
In another different area are actions of convenience, which are not related to altruistic or CSR actions.
Convenient actions are those that at first glance could be perceived as having disinterested purposes but that have as a background a benefit for the person who carries them out.
For example, one of the motivators that has made some companies get to work is avoiding government regulation, since this becomes a greater risk during and after a crisis.
One such case came when we saw increased financial regulation after Wall Street's behavior sparked the Great Recession, and lawmakers in hurricane districts tended to support bills that promoted increased environmental regulation.
Companies will often seek voluntary self-regulation and take other proactive measures during a crisis in hopes of preventing a more onerous government reaction.
A recent Stanford study found that even a modest effort can work to effectively avoid regulation.
Furthermore, this allows companies to set the terms and control the agenda, allowing them to choose actions that are in the interest of society, profitable, and avoid the costs and hassles of complying with new regulations.
With this we do not want to tell you that actions in favor of society are good or bad, on the contrary: they are all appreciated and as long as they contribute something beneficial to those who need it most, they will be well received, but it is also important that you consider which ones could have other strategic motivations. of who carries them out. What do you think about it? Did you know this type of actions.