Brand Management - Consumers are willing to pay more for a product or service from a company they feel is socially responsible. So, what demonstrates a company's social responsibility?

Brand Management - Consumers are willing to pay more for a product or service from a company they feel is socially responsible. So, what demonstrates a company's social responsibility?

In class we are learning about corporate social responsibility (or the lack of it in Enron's case). As this diagram shows, CSR is a form of corporate self-regulation included in the business model. CSR covers 3 main aspects; Social or community involvement, economic growth, and ecological / environmental action. It is of organisations best interest to embrace CSR practices, and for many reasons - one being customers will prefer you over competitors without CSR practices.

In class we are learning about corporate social responsibility (or the lack of it in Enron's case). As this diagram shows, CSR is a form of corporate self-regulation included in the business model. CSR covers 3 main aspects; Social or community involvement, economic growth, and ecological / environmental action. It is of organisations best interest to embrace CSR practices, and for many reasons - one being customers will prefer you over competitors without CSR practices.

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