The Importance of CSR in Conducting Business

Oh Hi!
Yesterday, a friend of mine sent me a message, she needed a short-testimonial about her capability in translating and the quality of the translations itself. You’re right, she’s like a grammar checker for me since she’s majoring in english education and already in her master’s degree programme. I admit it, writing an essay, academic writing or other formal writing is much different than writing a blog post and she’s always there. She has helped me to check my formal writing as i’ve come to the realization that formal writing is hard and i cant avoid to make grammatical mistakes. In other side, using google translate wont enlighten me much like she does. No! It doesnt mean that google translate is useless. It really helps me but i find it hard just to trust in the accuration of online machine translations and it somehow confuses me more. To sum up, the exsistence of my friend is really a blessings for me and i have no doubt in her capability.

Anyway, thanks to her. Her message has taken me back in time and reminded me that once, i have succesfully written a 600 word essay in a day. Of course, at that time, i asked her to check my writting since it was formal writing and i didn’t want to make any grammatical mistakes. Yep, it is last year’s selection for international internship program in one of multinational company in Asia. I was asked to make a short essay, it had to be around 600 words and more than that wasn’t allowed. The theme was based on my opinion in which i had to decide and choose the most important value in conducting a business from four options (Adherence to fairness, dedication to excellence, believe in the value of the individuals and concern for social responsibility). To choose one from four options was quite hard and they all seemed important in growing a business, at least in my opinion. Sadly, i was a true deadliner and i should admit it, i finished my writing a day before the registration was closed. It took me only two days to think and to write whats on my mind. In that sort period of time, i chose the last one as the theme of my essay.

Here’s my answer, the reason why “concern for social responsibility” is the most important value in conducting a business. For your information, the essay below is the original writing of mine (before getting checked by my friend) and i wonder if you can find grammatical errors inside it, ehehe. 



(imgsource: google.com)

The Importance of CSR in Conducting Business 

"Goodness is the only investment which never fails." - Henry David Thoreau

In my opinion, the most important value in conducting business is concern for social responsibilty, because when we start running a business, we decide to get involved in a society at the same time. It means that we do not only focus on giving value on our product and taking benefit as much as we want, but also  adding value on our company while also benefiting society. Later, the term Corporate Social Responsibilities (CSR) is more familiar to most people than Social Responsibility and it has been one of the standard business practices of our time. So, why CSR is important? And, why some CSR fail and others succeed?

Corporate Social Responsibility (CSR) or sometimes referred to a sustainability strategy is the continuing commitment of business to support and contribute to economic development while improving itself, as well as the community and society at large. The overall aim is to give positive impact on society while maximising the creation of shared value for the owners of the business, its employees, shareholders and stakeholders. To sum up, CSR is an essential for businesses that want to improve their public image and build up their reputation.

Not so long ago, a study by The Reputation Institute, a private global consulting firm based in Boston, found that 42% of how people feel about a company or business is based on their perceptions of the firm’s CSR. It means that almost half of business’s reputation is based on the public’s feelings about what business is doing to contribute and help the community. Furthermore, businesses that have a good reputation based on their CSR initiatives have boosted more customer and employee engangement and attracted more investors to invest in their businesses. The fact has shown that investors are more likely to be attracted to businesses that have a commitment not only to employees and customers, but also have a strong sense of corporate social responsibility. Some of the best-known examples of businesses that have embraced CSR and gained their reputation are The Walt Disney Company, Google and Microsoft.

According to the explanation above, about how CSR has given great impact and helped to improve business’s reputation, it is clear  that having well-established CSR is important, it is not an option, it is a must for businesses that want to be known globally and want to expand their influences in global business. And yet, as CSR has become more important to global business, many challenges should be faced by companies or businesses to make sure that their CSR strategy is well-implemented. Another question is coming, why some businesses fail to embrace CSR and others succeed?

Apparently, some businesses just follow the trend without doing any researches about what kind of CSR they should embrace. They end up having CSR initiatives that do not tie back to their business mission and do not align with their brand identity. That's true, CSR is important value in conducting business, but the strategy that we use to establish CSR itself is the most important one. Businesses have to make sure that they pick a few strategic areas of focus, ones that fit with their businesses value and support their business goals, then evaluate them. Developing and implementing CSR in this way will make businesses look more like doing all they can do the most, not just some good.


Warm regard,



 


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