In this post, we will learn about benefits of CSR (coperative social responsibility)to companies and to people.
Today in every business meeting,you must hear about the CSR because CSR is a need of business. Because every business use society’s resources for production and growth of their business (for example – land,employs,natural resources,capital etc.)
first we discuss about the main responsibilities of business towards society:-
- providing good quality product at fair price
- Take care of theirs customers and employs
- Using eco freindly methods for production
- Working for development of society(like education,health)
here, we talk about,
The benefits of CSR to company
CSR is a very important function for long term sustainability of the business. A business which follow its responsibility increases the chances of long term sustainability of business.
2.Advantage in competition
Many reports and researches prove that there is a competitive advantage between where is CSR followed and where is not. customers are loyal towads the business which follow its responsibility.
3.Build brand value
When CSR activities activities performed then people aware from the brand name like in India tata group’s brand value due to contribution in culture of India.
4. Increase sales
People attract from those business which have good reputation and when they feel it,they will repeat due to which sales automatic increase.
5. Better investment
Investors likes those businesses which have good reputation and prosperity. Investment is more active in reputated business other than other businesses which do not follow CSR.
6.Build prosperity of business :-
When a business carry on his responsiblities towards society. It builds the prosperity of business.which increase sales and responsible for organisational growth.
7. Attract customer :-
Goodwill is a force that attracts customers. people always choose those products which have good quality in fair price. So, from here we get that people attracts to those businesses which are fulfilling their requirement.
Here we get that consumer social resonsibility is very important for business. People prefer more those businesses which follow up their responsibilities.
CSR have uncountable benefits,so we choose only the most important 7 benefits of CSR which are :-
2.advantage in competition
3.build brand value
4. increase sales
5. better investment
6.build prosperity of business
7. Attract customer