Corporate Social Responsibility: The New Era!

In the last decade or so, the world has seen a shift in the way it does business. We have seen the rights of many men & women from all walks of life be increased due to legislation, and NGO's casting light upon peoples divine right to Self Determination.
Businesses have become just as powerful as states and in some cases they have higher incomes and networths. With power, comes responsibility; some businesses have failed in the past to take responsibility for the citizens , environment, and culture that they affect while doing business.
In the new era, Corporate Social Responsibility (CSR) has given way to a value based way of doing business ethically. This has yielded new departments in companies that have never even thought about business ethics or social responsibility.
CSR adds value in many ways and a new company called One 4 All CSR (http://www.one4allcsr.com) is helping their clients to capitalize on this highly valuable concept of business. Their out sourcing solution is helping businesses get started in this new highly dynamic way of business.

CSR adds value by:

Improved financial performance: A recent longitudinal Harvard University study has
found that "stakeholder balanced" companies showed four times the growth rate and eight
times employment growth when compared to companies that focused only on
shareholders and profit maximization.

Enhanced brand image & reputation: A company considered socially responsible can
benefit -both by its enhanced reputation with the public, as well as its reputation within
the business community, increasing a company's ability to attract capital and trading
partners. For example, a 1997 study by two Boston College management professors
found that excellent employee, customer and community relations are more important
than strong shareholder returns in earning corporations a place an Fortune magazine's
annual "Most Admired Companies" list.

Increased sales and customer loyalty: A number of studies have suggested a large and
growing market for the products and services of companies perceived to be socially
responsible. While businesses must first satisfy customers' key buying criteria - such as
price, quality, appearance, taste, availability, safety and convenience. Studies also show a
growing desire to buy based on other value-based criteria, such as " sweatshop-free" and
“child labor-free” clothing, products with smaller environmental impact, and absence of
genetically modified materials or ingredients.

Increased ability to attract and retain employees: Companies perceived to have strong
CSR commitments often find it easier to recruit employees, particularly in tight labor
markets. Retention levels may be higher too, resulting in a reduction in turnover and
associated recruitment and training costs. Tight labor markets as well the trend toward
multiple jobs for shorter periods of time are challenging companies to develop ways to
generate a return on the consideration resources invested in recruiting, hiring, and
training.

Reduced regulatory oversight: Companies that demonstrate that they are engaging in
practices that satisfy and go beyond regulatory compliance requirements are being given
less scrutiny and freer reign by both national and local government entities. In many
cases, such companies are subject to fewer inspections and paperwork, and may be given
preference or "fast-track" treatment when applying for operating permits, zoning
variances or other forms of governmental permission.

Easier access to capital: The Social Investment Forum reports that, in the U.S. in 1999,
there is more than $2 trillion in assets under management in portfolios that use screens
linked to ethics, the environment, and corporate social responsibility. It is clear that
companies addressing ethical, social, and environmental responsibilities have rapidly
growing access to capital that might not otherwise have been available.