Corporate Social Responsibility (CSR) is defined as the business activities carried out by the company to operate sustainably. Do you think corporate social responsibility pays off?
"It is not the job of the firm to take care of activities unrelated to their business. Firms these days are least concerned about their responsibility towards communities; the only thing that matters to them is the bottom line figures."
To evaluate the above-stated hypothesis, Nielsen researched to figure out the effectiveness and impact of sales of the firms being socially responsible. The survey featured 30,000 consumers from 60 countries. An online assessment that contained a questionnaire was filled by the target audience. Astonishing results were witnessed. In the fast-paced world where we see wars being fought at every front, people still valued the corporate social responsibility of the firms and 55% of the audience preferred buying products of those firms who did some sort of social service.
Results of the research restore some faith in humanity. 52% of the respondents even accepted paying slightly above than the normal for products of the firm that were socially responsible. 62% of the respondents cared more about the initiatives that are taken to diminish hunger and poverty across the globe.
People are willing to care for firms that are doing something good for the community because that is the testament of their goodwill. Nielsen’s global leader of public development and sustainability, Amy Fenton, stated in the report that people are making choices of buying a product and that choice is very strongly linked with the firm’s social responsibility index.
Add a human touch to your business; indulge in CSR activities to stay in the market and ahead of the competition.