Corporate social responsibility (CSR) is a way organizations choose to contribute to make the world a better place; to demonstrate that they care for a purpose other than profit.
Under the CSR umbrella you’ll find the feel-good side of business:
- environmental protection,
- workplace culture.
Not every company has a dedicated CSR program, but those that do are typically more successful… so they should.
Here’s what we know: CEOs who support corporate social responsibility lead their companies to greater success than those who do not. Our recent CEO RepTrak® and CSR RepTrak® research shows that CSR is an essential part of a CEO’s reputation in addition to greater corporate reputation.
In his recent open letter to CEOs entitled “A Sense of Purpose,” Blackrock Chairman and CEO Larry Fink offers long-term corporate growth advice to his colleagues:
“Society is demanding that companies, both public and private, serve a social purpose. To prosper over time, every company must not only deliver financial performance, but also show it makes a positive contribution to society.”
Sources: All texts, content, quotes and graphics by Reputation Institute. All credits to Reputation Institute.