Ethical And Socially Responsive Business
Though they might seem far apart, Business and Ethics are more tied up with each other than is visible or comprehended by the typical customer. Today, PR companies and Advertising agencies use companies’ social responsibility and awareness as a major promotional tool. The idea behind is simple: using the company’s reputation and finances to make a difference in the society establishes the company as an ethical and socially responsive business player, and creates positive publicity.
The question that arises is: why do businesses want to be morally responsible? What good does it do if a company engages in ethical and socially responsive business? Many experts are of the opinion that small businesses are more socially responsive than corporate giants. Companies with a smaller staff and limited reach are often in the field because of their love for what they do, as opposed to the objective of maximizing profit. This is also one of the views held by a vast majority of the population when talking about famous, well-established companies.
Ethical and socially responsive business, thus, not only puts the company in a good light, but also helps reform people’s opinions. To see a company ‘get down to it’, and actively participating in the amelioration of the community has a positive impact on their clientele, which may translate into positive word of mouth publicity. In fact, such practices are often so common in smaller franchises that many of them have truly friendly relations with competing brands and products. In the long run, it might earn the company a bigger customer base, a loyal target audience, and more investors for future projects and undertakings.
Companies often take up ethical and socially responsive business through various activities. ITC in India donates a rupee to child education for every notebook, register, or stationery they sell. Green People, a small cosmetics company, uses completely natural products to make cosmetics for daily use. The demand for ethical and socially responsive business is not limited to only CSR activities, but also extends to products as well. Today, more and more companies are switching over to natural production of materials, and refraining from animal testing as an initiative to promote good, healthy business.
Ethical and socially responsive business not only shows in the publicity statistics, but also establishes the company as a committed and the honourable member of the society. It resonates with the people but is also a method for self-satisfaction for many who are part of the company. Through this, work is not just about competing to come up with the next best product, but to make a significant difference in the society for the betterment of all.