Giving back to your community and creating a business with values will take you far in life. But, have you ever considered how corporate social responsibility can be used to align your exit strategy?
Corporate social responsibility (CSR) is the buzzword being used to describe companies that invest in their community, care about the environment, engage in proper marketplace practices, and create a fair workplace for their employees.
Corporate social responsibility efforts rarely make sense from a short term profitability standpoint.
You have to consider instead the capability that CSR has to create value in your business in the long run. And, in turn, the potential benefit it has for people around the world.
Taking your CSR seriously can open your company up for new streams of investment and innovation and make your business easier to sell. Read on to learn more.
CSR Increases Your Versatility
Investing in CSR will make you a more versatile company that can embark on joint ventures, invest in new technology, and advance research and development. In turn, this will lead to new avenues of opportunities that aren’t open to traditional companies.
By investing in CSR, you can apply for financial resources from earmarked funds from socially conscious investors. The better your company positions itself, the more people will see what you are trying to accomplish and want to support your business’ growth.
CSR Makes Your Business a Contributing Community Member
A company with values built on society’s reality won’t have to worry about which way the social tides turn.
They will have embedded themselves as a contributing member of their community and have a valued voice that can advance social change and establish real growth opportunities in emerging markets.
CSR Insulates Your Business from Government Intervention
Your business should also pay attention to its environmental footprint for its own benefit. When you put green initiatives in place, you are also insulating your company against government intervention.
Many companies spend millions of dollars on the back end to meet government regulations, instead of finding a way to shape their processes so that meeting that standard is part of the outcome. Buyers will be happy to know that your company takes its environmental impact seriously.
CSR Creates a More Productive and Engaged Workforce
CSR can also be used as a tool to maintain a happy workforce. If your employees feel like you hear them and pay them a living wage, they will enjoy their jobs more and can focus and be more productive. Happy employees means happy customers.
CSR Helps You Demonstrate Your Brand Values to Potential Buyers
CSR also gives you the opportunity to differentiate yourself as a brand by demonstrating your brand-specific assets to customers. You may be one of many insurance companies out there, but you’re the one who is volunteering your staff member’s time to invest in the community.