Why does Corporate Social Responsibility make good business sense?
A recent GlobeScan poll conducted for its annual Corporate Social Responsibility Monitor shows that 83% of Canadians believe that corporations should go beyond their traditional economic role. Over half say they have avoided doing business with a socially irresponsible company in the past year. Businesses are starting to understand their need to demonstrate corporate social responsibility. In 2002, KPMG found that 45% of the top 250 Fortune Global 500 companies issue environmental, social or sustainability reports. Corporate social responsibility not only increases a company’s reputation with its employees, stakeholders, and community, but also leads to more environmentally-friendly business practices, facilitates community-based market growth, and encourages cost-effective business practices. Corporate Social Responsibility is good for everybody’s bottom line.
