Over 75% of respondents in a recent survey expected business leaders to a have committed views on difficult issues the world is facing today. Companies are increasingly expected to have a positive impact not just on their workers and their families – which was the original intent of Corporate Social Responsibility – but on society. In addition, CSR has gone digital as much as anything else, with its effects able to be tracked, analyzed, reflected on and adjusted just like other KPIs.
Sustainable societies, sustainable companies
Another study reported that two out of three consumers will spend money on a brand that tracks and proves their sustainability. In the coming age of big data, in which customers’ buying patterns are clearer by their online activity, companies and other entities will also have information about their behavior publically accessible too, including carbon footprints, CSR activities and anything deemed worthy enough to turn up on Google.
Where CSR meets ROI
According to the 2015 Global CSR Study, 90% of consumers would choose not to patronize a company proven to have taking part in inappropriate business practices, and also expect companies to take a stand on environmental and social issues. The Reputation Institute found that while 40% of our decisions whether to buy something is based on what we think of a company’s products and services, 60% of those decisions come from what we think of the company itself. Reputation influences long-term financial stability, and all the more in a digital age, when privacy is under threat, and data can be manipulated. The last word in reputation is integrity, and remains as valuable as ever.
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