Social Responsibility: Why It Matters For Your Business
As human beings, we want to leave our mark; a mark that generations will remember. And no impact matters more than one that improves the society we live in.
Such is the case of social responsibility: the notion that an organisation, no matter how big or small, must contribute to the society constructively. Whether it’s helping out underprivileged people through donations, or keeping the environment safe and clean through environment-friendly business practices, an entity should keep the world and its inhabitants into perspective.
This applies to the business world, as well.
Of course, most business people wouldn’t think much of it – but we’re here to tell you that it matters a lot. Here’s how your business can benefit from being socially responsible:
Attract Committed Customers
Our current world is extremely self-aware; not only do they know their impact on businesses, but they also know the impact businesses can potentially have on other people and the environment. If they want to associate themselves with a brand, then they want to make sure they help the world in some way.
That’s why being a socially responsible business helps attract customers who will stick by your side. People will appreciate the fact that your business strives to improve the world’s conditions, and will hence be more willing to be your allies.
Businesses that care more about the world than the money that’s flowing into their pockets are always perceived with a better light.
Even small philanthropic businesses tend to be more popular among other corporate giants. By being socially responsible (with honest intentions!) you automatically become a progressive conversation-starter: whether it’s through social media, broadcasting, or media coverage, your business ultimately will have gained much needed – and well-deserved! – fame.
Without a doubt, employees feel proud of working for a business that helps others – much more than working for a business that just churns out products without a care for the world, like a soulless machine. It makes them feel part of something grander, making them willing to give their best effort every time.
This inevitably boosts employee productivity; whether it’s better product quality, smoother work functions, or better customer service, your business benefits from all fronts.
Marketing can easily exhaust a lot of your money; setting up billboards, printing brochures, running campaigns – it can all get too costly for little to no results.
This is where being a socially responsible business stands out because it makes marketing a lot more efficient. For example, instead of running an advertisement about your product, show people how profit generated from your product will go for donations. People become more interested in investing in brands if it means they get to help others.
Your advertising strategies might change, but the gist is still there – you can market smartly by showing people how their purchase can help the world.
How Do I Start?
First, you will need the will to positively influence the world. Of course, one business can’t do it all, so start small; pick a donation that helps underprivileged people by supplying water/food, or supporting education for rural people – there are many to pick from. You can take it to the next level by conducting regular tree-plantation drives, or anti-pollution campaigns – you can even invite your customers to join the cause!
Apart from that, you need to make sure your own business practices supports maximum conservation, and minimum wastage. For that, your inventory practices must be top-notch – and inventory software help a lot.
In fact, Oscar POS is one software that has the best inventory management in Pakistan; apart from keeping stock levels updated in real-time, it gives low-stock alerts and reveals overflowing stocks. That way, you can buy things you need, and prevent items from wasting away because of disuse.
These are just a few of the many little steps you can take, but they all ultimately help your business become more socially responsible.
No matter how big or small your business may be, you inevitably have the power to influence. That’s why it’s your duty to make the world a better place.