Recently, companies around the world have begun to place more emphasis on sustainability. Companies have all kinds of motivations for these investments. Environmental issues are now a strategic challenge for companies. The environment, as well as other social issues, long subordinated to the needs of economic activity and seen as a pool of unlimited resources, is now a collective concern that must be integrated into productive activities.
- Sustainable business
- Social responsibility
- Comparison between social responsibility and sustainable enterprises
Customers are becoming more and more environmentally aware and are looking to buy products and services from companies that are committed to the environment.
Sustainable businesses are those companies that provide goods and services in a sustainable manner.
Sustainable companies consider environmental and social aspects to create value in the short term and long term. The aim is to contribute to the progress of present and future generations, and to the creation of well-being.
The advantage of sustainable companies is unquestionable, starting with building a better world. But from a business perspective, there are also many advantages for an organization to become a sustainable company such as: improving the brand image in the eyes of customers, positioning itself as a benchmark, improve business competitiveness as well as improving the image in the eyes of the competition and potential investors, and saving costs!
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The European Commission defines corporate social responsibility as a “concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis”.
In other words, corporate social responsibility represents the contribution of companies to the challenges of sustainable development; it seeks to have a positive impact on society while being economically viable.
Within this definition, companies can be integrated into social and environmental concerns in many different ways, however, they all have in common the following: defining who their society is, as it does not necessarily have to be all of it, identifying the impact it generates on society and its environment and what impact it would like to generate, clarifying what methods it will use and what means it has at its disposal to manage its impact on society.
There are seven central themes to define the scope of corporate social responsibility: the governance of the organization, human rights, labor relations and working conditions, the environment, fair practices, consumer issues and communities and local development.
Comparison Between Social Responsibility and Sustainable Enterprises
According to the European Commission, corporate social responsibility is the responsibility of companies for their impacts on society, while sustainable companies include the impact of the social, economic, and environmental spheres.
Social responsibility may be associated with ethics and good practices, and corporate sustainability can be considered as an integral term for all three spheres in the value chain.
Today, both social responsibility and sustainable enterprises are perceived as competitive values. In addition to the above, ethics, good practices, inclusive business, zero waste programs and the shared value chain are also seen as competitive values.
They are complementary; the company can contribute to sustainability by being socially responsible. Economically, it generates jobs and wealth, helping to meet people’s needs. Environmentally, it takes care of resources and reduces its carbon footprint and waste. Socially, it looks after its employees, human and children’s rights, as well as those of the most vulnerable communities through specific programs or by working with grassroots organizations.
Corporate social responsibility is one of the means and sustainability is the end that society wants to achieve.
Cloverhut is an English company that raffles homes in the Spanish coastline as well as many other attractive prizes.
In its efforts to become more socially responsible, Cloverhut is committed to donating 80% of its profits to Non-Governmental Organizations, such as Habitat for Humanity Great Britain.
With tickets at a value of £2 each, participants have the chance to become brand new homeowners of a Spanish beachfront home, as well as participating in on the raffles. Those who subscribe to Cloverclub have access to exclusive raffles, such as weekly £1000 cash prizes, all inclusive trips to Mallorca for two and other exclusive raffles as well as exclusive discounts! Ann all of this, while participating in the donation of 80% of Cloverhut’s profit to an honorable cause!
If you wish to know more about this collaboration, click here.
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