Why business should engage in corporate social responsibility?
Studies have shown that the benefits of engaging in corporate social responsibility include: • improved financial performance • reduced risk exposure • identification of new products and new markets • enhanced brand image • increased sales and customer loyalty • improved recruitment and retention performance • creation of new business networks • increased staff motivation and enhanced skill set • improved trust • enhanced corporate reputations • improved government relations • reduced regulatory intervention • reduced costs through environmental best practice leading to more sustainable profitability
