{"id":561269,"date":"2019-12-07T03:02:19","date_gmt":"2019-12-07T08:02:19","guid":{"rendered":"https:\/\/vrbbd.wpengine.com\/vrbbgreenbay\/understanding-corporate-social-responsibility-csr\/"},"modified":"2022-01-31T12:41:54","modified_gmt":"2022-01-31T17:41:54","slug":"understanding-corporate-social-responsibility-csr","status":"publish","type":"post","link":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/understanding-corporate-social-responsibility-csr\/","title":{"rendered":"Understanding Corporate Social Responsibility (CSR)"},"content":{"rendered":"
\"\"<\/p>\n

If you don\u2019t exactly understand what corporate social responsibility (CSR) means, don\u2019t worry.\u00a0 We\u2019ll cover the main points you need to know.\u00a0 CSR is increasingly seen as something that companies of all sizes need to be aware of, so let\u2019s take a closer look at a few of the finer points.<\/span><\/p>\n

There are 4 basic pillars in CSR: the community, the environment, the marketplace and the workplace.\u00a0 The community pillar of CSR refers to your company\u2019s contribution to the local community; this contribution can take a variety of forms ranging from financial support to personal involvement.\u00a0<\/span><\/p>\n

The second pillar of CSR is the environment.\u00a0 The simple fact is that people around the world are becoming much more environmentally aware.\u00a0 You can be quite certain that a percentage of your customers and\/or clients have environmental concerns.\u00a0<\/span><\/p>\n

Increasingly, consumers want to know that the companies that they are purchasing from have good environmental practices.\u00a0 There are many ways that businesses can show that they are environmentally aware.\u00a0 They range from recycling and using low-emission and high-mileage vehicles whenever possible to adopting packaging and containers that are environmentally friendly.\u00a0<\/span><\/p>\n

The third pillar of CSR is the marketplace.\u00a0 Proper corporate social responsibility includes the responsible utilization of advertising, public relations, and ethical business conduct.\u00a0 Another key element in the marketplace pillar is adopting fair treatment policies towards suppliers and vendors, contractors and shareholders.\u00a0 In other words, the marketplace aspect of CSR means rejecting exploitative business practices in favor of fairer and more equitable business practices.\u00a0<\/span><\/p>\n

The final pillar of CSR concerns the workplace.\u00a0 In the workplace pillar, CSR encourages the implementation of fair and equitable treatment of employees, as well as observing workplace safety protocols and embracing equal opportunity employment and labor standards.<\/span><\/p>\n

Adopting CSR practices in today\u2019s business climate is a prudent decision, as it serves to increase both shareholder and investor interest, while simultaneously encouraging a company\u2019s value.\u00a0 Likewise, embracing CSR practices can make it easier to attract a buyer and that party may be willing to pay a higher selling price.<\/span><\/p>\n

Typically, buyers want a business that has many of the attributes supported by the four pillars of CSR.\u00a0 Buyers want businesses that enjoy a high level of customer loyalty and have good overall relations with the local community.\u00a0 Additionally, buyers want businesses that have quality relationships with their suppliers and vendors as well as loyal and dependable employees.\u00a0<\/span><\/p>\n

Sellers must realize that buyers want products, goods and services that are in line with the current trends of the marketplace and have an eye towards future trends.\u00a0 Finally, buyers want as little \u201cbaggage\u201d as possible.\u00a0 You can be certain that buyers don\u2019t want to find any skeletons lurking about in the company closet.\u00a0 The proper utilization of CSR can address all of these concerns and, in the process, make your business more attractive to a potential buyer.<\/span><\/p>\n

\u00a0<\/p>\n

Copyright: Business Brokerage Press, Inc.<\/a><\/p>\n

Yastremska\/BigStock.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

If you don\u2019t exactly understand what corporate social responsibility (CSR) means, don\u2019t worry.\u00a0 We\u2019ll cover the main points you need to know.\u00a0 CSR is increasingly seen as something that companies of all sizes need to be aware of, so let\u2019s take a closer look at a few of the finer points. There are 4 basic […]<\/p>\n","protected":false},"author":2,"featured_media":561271,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3,2],"tags":[],"class_list":["post-561269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-seller-articles","category-selling-a-business"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/posts\/561269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/comments?post=561269"}],"version-history":[{"count":0,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/posts\/561269\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/media\/561271"}],"wp:attachment":[{"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/media?parent=561269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/categories?post=561269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vrbusinessbrokers.com\/vrbbgreenbay\/wp-json\/wp\/v2\/tags?post=561269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}