Responsible behavior is an advantage in the market.
Conducting business in accordance with the principles of CSR brings benefits and profits beyond a non-financial nature, including:
- Greater transparency and strengthened credibility of the firm
- higher attractiveness for investors
- reputation building and the resulting strong market position
- competitive differentiation, brand visibility for consumer
- increasing productivity and employee loyalty
- the possibility of obtaining and retaining quality employees
- reduce the cost of risk-management
- direct financial savings associated with environmental behavior (eg, energy conservation, re-use of waste materials in production)
- increase in turnover
- increase the quality of products or services
Accountability is important to small and medium enterprises. CSR brings benefits both to the large companies as well as to the most minor:
- finding workers easily – small businesses may have difficulty in gaining adequate work force because they can not afford expensive advertisements. Using CSR activities in a small company can offer a prospective employee benefits, which will secure his interest and ultimately loyalty.
- Easier access to business partners – corporate social responsibility affects customer-supplier relationships, because some companies when choosing a business partner can also take into account compliance with the CSR.
- Public relations – small business can not spend a large amount of communication with the public, hence the importance of a well-known reputation.
- Contacts and information – business can obtain information from the environment and relations with key partners, which will benefit him in the medium and long term.