Ethics and being socially responsible are the signs of a good business that strives to be a strong member of the community. Businesses that recognize there is more to the concept of company value than just profitability and the bottom line, make better neighbors and build stronger economies. Supporting socially responsible companies offers a variety of benefits:
The efforts socially responsible companies make are combined with the efforts of other individuals and businesses, creating a more substantial positive impact.
Socially responsible businesses lead by example and often apply pressure to competitors to also act in ethical ways.
Socially responsible businesses are more likely to offer ethically produced products and services for sale. This means as a consumer you can feel more confident that your money is supporting things like fair trade.
Companies that espouse social responsibility also tend to be very loyal to the customer base and their community. They are more likely to be concerned with customer satisfaction and providing top-quality service.
When you support these businesses with your money, you also give back to your community with every purchase you make.
Many socially responsible companies make strong efforts to protect the environment. They recycle, invest in renewable energy sources and cut down on waste as much as possible. Supporting them in these endeavors also helps individuals reduce their own carbon footprint.
These are some of the most important benefits gained when you consciously choose to support socially responsible business, but there are also risks in supporting businesses that do not act ethically. Businesses that function on a “bottom line” only mentality tend to take shortcuts that can impact worker safety and job satisfaction. They are also more likely to obtain products and services from questionable sources.
Recent stories of factory workers being killed in Bangladesh in fires and building collapses are one well publicized example of what can happen when companies are not held to high social standards.
When consumers support the businesses that sell clothing produced by these manufacturers; it allows practices like this to continue. It is important to insist upon corporate accountability. Your pocketbook is the most direct way you have to influence policy world wide. When companies lose money due to bad press; they are more compelled to deal with the egregious policies that destroy the lives of workers around the world.
Consumers who reward socially responsible companies encourage other businesses to follow in the same footsteps. Take time to learn the policies of the businesses in your area. When possible, encourage them to actively participate more in the local community. Find out what they do to reduce waste, protect against exploitation and how they give back to the region. Many national chains may have larger programs, but it’s important to ensure that those larger programs also bring positive benefits directly to your area to stimulate local economies.
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