Role of CSR in brand development.
Role of CSR in brand development.
Corporate social responsibility (CSR) is corporate social responsibility, is the commitment of businesses to business ethics and contributes to sustainable economic development, improving the quality of life for employees and their families. CSR encompasses a business’s interaction with employees, customers, suppliers and community partners. It includes strong ethical standards, transparency about activities and performance, learning from past mistakes and rewarding community engagement. Corporate Social Responsibility (CSR) is an opportunity which, if taken seriously and executed properly, can prove to be very profitable. It involves three main components: Environmental sustainability, Humanitarian and community needs, and Reaching out to key stakeholders. One thing that business owners often fail to consider when working with CSR is the importance of branding more specifically at the corporate level. For example, if a company wants people to care about their environmental impact on the planet, it might involve activities such as running greener and more efficient operations or recycling more resources than normal. Knowing how much effort you want to put into it will help determine these efforts which in turn will solely depend on the efforts of the employees themselves
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