Luckily, there are people who are willing to help. There are some big businesses taking a stand and proving that they are good for the community. They are good at helping families who are in need. It is all done by companies who choose to make an impact investment for social enterprise. Companies that choose to make an impact investment for social enterprise are taking huge step in giving to their community and nearby areas.
Its full profits are used to fund social activities that include teaching real-life skills to employees, creating housing for homeless people, conducting medical clinics for people living with HIV/AIDS and empowering people to become self-sufficient. In most cases, profits and social welfare are at odds. In such a case, business executives being answerable to shareholders are likely to focus on the profit-making aspect of the business rather than going against the interest of their shareholders by promoting social welfare at the expense of profits. In addition, research shows that companies actively involved in Corporate Social Responsibility efforts are more likely to be targeted by activists (Kress, 2011). In fact, it has been established that many companies initiate corporate social welfare projects when they stand to gain from those projects.
The Small Business Administration is one of the first resources that come to mind for many small business owners looking for guidance or help. And for good reason, since the promise of government-backed loans and free advice sounds like a pretty good deal. Having run multiple startups and grown them to become multi-million dollar entities, however, I can tell you that the guidance provided by the SBA just barely scratches the surface of what business owners and entrepreneurs need to know to be successful. To add insult to injury, most small businesses are denied SBA loans, and according to data published earlier this month, the SBA is continuing to cut back on their government-backed loans to small businesses. In other words, the SBA means well, but the resources they provide leave much to be desired.
Employee participation in Social Responsibility can drive motivation. I think that organizations are facing new demands from society and shareholders to be more socially responsible. The book defines Corporate Social Responsibility to include businesses living and working together for the common good and valuing human dignity (Phillips & Gully, 2012, p. 19). Employee engagement is a very cost-effective way to tap into building credibility into Corporate Social Responsibility. There are many effortless ways to find leverage to build employee relationships and firmly impact the communities surrounding the company and employees.
Employees chose to stay with a company they feel cares about them and allow them to be a part of the business process. The company takes own positivity and empowerment of their employees, which change the dynamics of the environment (culture). This positive contagious atmosphere will increase the output of production and provide a retention of customers. According to Coetzer, Bussin, & Geldenhuy (2017), servant leadership positively influence, individuals, teams and organizations (p.10). The retention alone will increase the bottom-line and increase the customers loyalty to the company.
Corporate Social Responsibility (CSR) is a concept whereby organizations consider the interests of society . Responsibility for the impact of their activities on shareholders, employees, customers , the environment and communities in all areas of your business that is determined to see beyond the legal obligation to comply with legislation and sees organizations voluntarily take steps to improve the quality of improving the quality of life of employees and their families and the community and society to improve local . Social responsibility is an idea that has long been a source of concern for humanity. In the last two decades there has been a growing interest in the business world. This has led to greater interaction between governments, businesses and society as a whole.
In order for customers to be satisfied it is crucial to offer products and services at an affordable price—this is driven by competition. The countless benefits of buying services such as Internet, Cable TV, cellular and telephone from a local provider are why my family continues to purchase from Mosaic. The great customer service and loyalty to the community are critical to a well-rounded community. These local businesses show their support to community by sponsoring events, donating their services, and giving scholarships. In our world, communication is essential and constantly evolving.
Entrepreneurs are innovators and have a purpose in what they do with their occupation to have an effect on lives. Their bright ideas help bring income to make a living off of the product. Public relations are a big asset to an entrepreneur because they create opportunities for them and others. Such as charities to help children and the elderly, also they get introduced to businesses and as well be the face of them for the companies. Overall, the entrepreneurs just want to be successful and have their hands on opportunities to make money.
It is desirable for a company to be socially responsible. For example: • Employees proud to work for a good company and under guided ethics will work harder. Internal society will flourish, as first-line management will spend less time on issues and more time on quality and production. At Techfite, time managing employee’s concerns about hours and benefits can now go toward building a strong workforce. • A socially responsible Techfite, will be viewed by Dellberg as a company that is good for their community.
• Employee- satisfaction: Having an obligation to show social performance in the annual report enables companies to take care of employees’ needs, drawing loyalty from them and entitling companies to become ‘employers of choice’. • Innovation: Emphasizing on quality-environment leads to R&D opportunities and innovative products and services. TBL-framework use is rising gradually among firms. Lucrative-sharemarket opportunities or a better world- TBL pertains to all. As organizations compete to keep up to the expectations of their various stakeholders, TBL framework should surely open up a new way for judging sustainable