Essay: Does corporate social responsibility create additional value?
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Corporate Social Responsibility consists in the will of integrating in companies’ daily life, social and environmental concerns. CSR means go beyond legal instructions. Companies which have a social responsible behavior are committed in a voluntary approach because they judge that it is their long term interest.
CSR allows companies creating additional value. First of all, CSR means implementing and anticipating environmental and social legislation. Companies create an additional value because their can communicate about their progresses and their advancements. Anticipate is also prevent risks and confines to preserve natural resources and company’s durability.
Protecting the environment permit to reduce costs (reduction of consummation of raw material and energy, reduction of maintenance costs, cleanup costs and refuse disposal costs).At the product level, CSR allows to increase the quality, decrease the costs, improve the security, increase product’s life…The product is more attractive for customers. Additional value is created because the company is more competitive and innovative.
By integrating CSR, the company differentiates itself from its competitors. Products are specific, promoted and have a symbolic value. This differentiation permits to create a new positioning in customers mind that can be more disposed to buy the product than another product with no commitment. Products can be more expensive because customers know that the product respect nature and peoples.
One of the most important additional value created by CSR is a good image of the company. Working and cooperating with NGOs (protection of the environment and natural resources, social politic…), inform and answer to anxiety and expectations of customers allow reducing the pressures of public opinion. The company can create new products or services and communicate on