Social Responsibility is a form of enterprise's self-regulation doctrine whereby business ensures and monitors its compliance with the ethics and codes which encourages a positive impact on the environment, employees, consumers and communities. Social Responsibility or Corporate Social Responsibility would furthermore back up public interest by encouraging community development and growth and eliminating practices that are harmful for peaceful co-existence between communities. In short, Social Responsibility can be termed as the inclusion of public interest into corporate decision-making.
According to Oglacs, benefits of an enterprise brought about by Corporate Social Responsibility (CSR) are given below:
Corporate Social Responsibility can be an assistance to the company in recruitment and retention of proficient and qualified employees. It can also help improve the approach of the company among its staff,particularly when staff become concerned in payroll giving, community volunteering or fund-raising activities.
Reputation of a company takes decades to build up. While on the other hand it can be easily brought down in a moment by incidents such as corruption scandals, reckless operation and environmental accidents. These kinds of incidents can also heighten the company's degradation by attracting media, courts, governments and other agencies. Therefore, risk management is one core corporate strategies to keep risks at bay. Oglacs truly believe in building a genuine principle of “doing the right thing the right way” can avoid risks.
Corporate Social Responsibility can also play a great role in developing customer's loyalty through brand differentiation. In today's booming market companies strive for unique marketing strategies to keep their brand(s) survive. CSR can be a potential strategy to benefit the company by offering innovative and efficient brands of products to the consumers.
License to operate
Enterprises or companies tend to avoid interference in their business through taxation or they can also persuade the public and government by taking up methods that can be of great impact to the society and the environment. Thereby they can earn an easy license to operate besides doing something good for the humankind.
Oglacs has been the most efficient providers I have come across in the past 5 years. Our partnership has grown by leaps and bounds over the past years. They have been a trendsetter when it comes to Professionalism and Practical Project Management. On-time delivery and efficiency are the core features which keeps me glued to them again and again. Now that we are Partners, there lies a brilliant future ahead for BOTH OF US.