Social responsibility is very important irrespective of the community in which business is conducted in. In my opinion all stakeholder groups are benefited from the use of socially conscious behavior. For one, stock holders benefit as they doing good within the overall community. These sales numbers will therefore provide a solid foundation in which to evaluate the merits of a particular activity such as a merger, acquisition, dividend, stock buy back and so forth. Consumers benefit as they are not mislead in regards to purchasing decisions. If the company is truly acting in the benefit of the society, consumers will realize it. These activities builds trust as the brand will become synonymous with environmentally friendly behavior, further expanding the market share...
Because the
environment is so important to so many individuals, more people will buy the product. This will then benefit the shareholders even further as more consumers purchase products from this trusted company. The community benefits as the company contributes to the community through the profits garnered from sales. As such, all stakeholder groups benefit and flourish. Social responsibility and environmental ethics are no different in this regard. Companies, especially during tough economic circumstances want to demonstrate their commitment to the communities and environments in which they operate. Usually, these commitments translate into high sales figures and better
customer loyalty. Social responsibility also engages associates on a personal level as they can volunteer and contribute to causes pertinent to their beliefs. These increases employee satisfaction which ultimately helps improve productivity. In regards to benefits, a company has many incentives to be socially responsible. For one, active participation in causes such as employee diversification and environmental sustainability are pertinent to ALL stakeholder groups involved. This also indicates that the corporation cares about its socially responsible behavior and has an extreme desire to make this responsibility a priority (Woodhouse, 2009).
