How the Corporate houses follow CSR and build their reputation

In the modern world, e-commerce is flourishing all over the world. Because of that consumers have a wide variety of products available for them to choose from.  It will not be a surprise if the retail stores become obsolete. 

With the e-commerce, customers will buy the products from socially responsible companies so that these company’s profit margins will go up. Today, customers are willing to pay more if the company is involved in Corporate Social Responsibility (CSR). 

CSR is nothing but how the company relates itself with the outside world or the society. Under the circumstances, it is important that CSR implementation is undertaken by the leading companies. The processes involved in the implementation of CSR are:

    Conduct a CSR assessment

    Develop a CSR strategy

    Develop CSR commitments

    Implement CSR commitments  

    Verify and report on progress

    Evaluate and improve

By implementing CSR, both the top management as well as the employee’s financial and social contributions will increase. The studies show that the profits and competitive advantage will increase. 

when CSR implementation is done. But at the same time the company can still maintain its responsibility towards the stakeholders. The advantages of implementing CSR are as follows:

Implement cost and risk reductions
Develop corporate reputation
Gain competitive advantage

      Seek win-win outcomes through synergistic value creation