Entrepreneurs / Small Business  May 31, 2015

Social responsibility starts inside your business

Business schools and consultants have been talking about the “triple bottom line” concept for a couple of decades. Most of us know that this idea originated in the early 1990s as a way to talk about how businesses can expand their focus from solely a positive financial bottom line to include ways to positively impact the environment and society.

Since that time, many large and small companies have been successful in implementing environmentally friendly policies and practices – turning off lights, introducing recycling programs and even striving to make their workplaces carbon neutral.

Fewer companies have successfully implemented socially responsible business practices. Also, known as “corporate social responsibility,” these business activities focus on policies and programs that benefit society in some way.   

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Some companies believe that to practice corporate social responsibility they need to invest in activities in developing countries where people are starving or living on a dollar a day. The reality is that there are needs in our own Colorado communities that companies can impact, creating positive change while also strengthening their business. A 2013 Nielsen study found that a growing number of people (55 percent) are willing to spend more for goods and services from companies with socially responsible business practices.

The added benefit is that socially responsible practices can foster loyalty and build teamwork among employees, which actually can improve morale and reduce turnover. People like to feel their work is making a difference, and according to a 2003 Stanford University study, employees want to work for caring and ethical employers.

How can you begin a corporate social responsibility program in your business?

Document what you already do. Do you sponsor certain events for nonprofits? Do you have policies that strongly support the needs of your employees? Do you have a cause for which you raise funds each year?

Survey your employees and management regarding causes that are important to them. 

Create an internal committee to begin to develop ideas about how to build upon what you already are doing to expand your company’s community impact.

Talk to organizations that work on the issues that are important to your organization, find out what needs they have and learn more about the issue in your community.

Let your customers and suppliers know about how you are helping the community and encourage them to get involved.

There are many ways in which companies can benefit society – from implementing employee-friendly policies to ensuring a socially responsible supply chain or raising funds for a cause. Get creative and get involved!

Mary Atchison is founder and chief executive of MJA Associates, a corporate social responsibility consulting firm. She can be reached at Mary@communityisbusiness.com.

Business schools and consultants have been talking about the “triple bottom line” concept for a couple of decades. Most of us know that this idea originated in the early 1990s as a way to talk about how businesses can expand their focus from solely a positive financial bottom line to include ways to positively impact the environment and society.

Since that time, many large and small companies have been successful in implementing environmentally friendly policies and practices – turning off lights, introducing recycling programs and even striving to make their workplaces carbon neutral.

Fewer companies…

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