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5 Reasons Why Doing Good for your Community is Good for your Business


Corporate Social Responsibility (CSR)

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Unit Summary

5 reasons why doing good for your community is good for your business:
  • Increased sales
  • Hiring great talent
  • Better brand awareness
  • More engagement from your customers
  • Stronger brand loyalty

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Gone are the days when companies can just focus on their sales and profit numbers and disregard their impact to the community and environment around them. Customers, governments and shareholders are holding businesses more accountable toward their surroundings as part of their Corporate Social Responsibility (CSR). This doesn't mean though that companies who do good need to compromise on profits.
Here are 5 reasons why doing good for your community can also be good for your business:
  • Increased sales, since today's customers like to buy from companies that they perceive are socially responsible
  • Hiring great talent, since many studies have shown that the most talented employees need to feel that their job has a sense of purpose
  • Better brand awareness, since the press and media will help in sharing stories of good business practices much more than just talking about your products or services
  • More engagement from your customers as they could participate with you in the community projects that you organize
  • Stronger brand loyalty where customers would not be as inclined to switch to a competitor when they appreciate the value you are providing to the community
So, launching such community projects that help those around you is not only good for them but also can have a very positive impact on your team, your marketing and your bottom line.

We make living by what we get, but we make a life by what we give. Winston Churchill