Corporate Social Responsibility (CSR) has evolved from buzzword to key component to business strategy. CSR can be defined as a company being aware of its impact on society and making sure their contribution is positive. This can take any form, from more opportunities for minorities, to a friendlier environmental footprint. Many businesses have changed for the better but, for younger generations of consumers, that’s not enough. They want business to do more than take a stand, they want them to take responsibility, to have a purpose, to make a difference.
The Shoe Company that Fits the Times
TOM’s, the shoe company, is a perfect example of purpose. They make sure the manufacturing of their shoes has little to no environmental impact, and they donate a pair for every pair of shoes purchased. Today, TOM’s invests a third of its profits to create grassroots change.
A Cup of Compassion
When a company adopts a purpose, employees often benefit. Everyone knows Starbucks is a leading CSR innovator. They reached 99% ethically sourced coffee. Their plastic cup redesigns reduced their carbon footprint. They have also created an employee enrichment program to provide college tuition to employees.
Bandwagon
June is Pride Month. Some companies will adapt their social media logos to match the Pride flag. Raising awareness is good and adopting the rainbow colors is a way of showing support. Just keep in mind that support is empty without action of some kind. You don’t want to co-opt a social movement just to puff up your image.
For corporate responsibility and purpose to work it has to be real. Don’t jump on the bandwagon just because you think it’s good PR for your brand. What you do should align with your company values, and be a natural fit with your brand.