Businesses are social entities. They should play a role in the social issues of the day by taking seriously their “obligations to society” and actively fulfill them. Social responsibility creates a level of trust, admiration, good feeling and overall esteem from the public while giving a competitive advantage to businesses. CSR is principally the right thing to do regardless of the economic effect.

1. The Power of Doing Good
Businesses are social entities. They should play a
role in the social issues of the day by taking seriously
their “obligations to society” and actively fulfill them.
The 3 R’s of Corporate Social Responsibility (CSR)
Response
Integrity
RelationshipReputation
CSR is a two-edged sword. Social responsibility
creates a level of trust, admiration, good feel-
ing and overall esteem from the public while
giving a competitive advantage to businesses.
When a business works towards minimizing
the negative social, environmental and eco-
nomic impact it has on its surroundings it
becomes powerful in the minds of people.
* CSR helps in improving relationships with
stakeholders;
* CSR increases operational efficiency and
reduces cost;
* The market potential of CSR is huge;
* Consumers love ethical products;
* CSR is principally the right thing to do re-
gardless of the economic effect.
CSR and Consumer Behaviour
Consumers react more strongly to negative
CSR than to positive CSR. Low price can
never compensate for a damaged environ-
ment or poorly treated community.
Design by Sylvia Agamah