Doing The Right Thing: Corporate Social Responsibility

by David Grasso, GenFKD

The age of companies showing a genuine interest in doing good and embracing corporate social responsibility has changed the world of commerce. Traditionally, a business’s only responsibility was the bottom line: turning a profit for their shareholders or investors. Now, many companies are putting their mission of doing social good on full display.

Beyond the bottom line

Young people have different consumer tastes, and that’s altering the way companies do business in the 21st century. In sum, millennials want to consume goods and services from companies who care about the world around them. As a result, corporate norms are evolving to satisfy these changing consumer demands.

“What we’re seeing is because millennials want to work for and buy from companies that are doing the right thing, or companies that have purpose,” said Susan McPherson, a corporate social responsibility expert. “While companies have a fiduciary responsibility to their shareholders, treating your employees, customers, investors, and the environment with respect is important as well.”

CSR: Be all you can be

Corporate social responsibility is about “being the best business you can be,” by taking society-wide issues like environmental conservation into account. In an increasingly interconnected world, if a company is doing things like exploiting labor or harming the environment, it’s hard to keep that a secret…

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