Business Best Practice: The Corporate Conscience

Today’s consumers are growing increasingly savvy when it comes to issues surrounding the environment and more and more shoppers are choosing to support businesses that make an effort to remedy social injustices and environmental issues.

The growing use of the internet makes it easier for consumers to become more informed about businesses and the impact of their operations and as a result consumers are increasingly shopping with their conscience.

The rising popularity of organic, local, Fair Trade, and eco-friendly goods is a fine example of this and if businesses are to win the hearts of both consumers and staff then a realisation that their actions have ethical, social, and environmental consequences is essential.

Modern technologies mean products are becoming more similar in terms of quality so consumers are looking for other ways of making purchasing choices with well over 60% of US adults claiming to consider a company’s business practices when deciding what to buy.

The majority of consumers from the US and Europe hold a more positive image of organisations that support a cause they care about and it even seems that a significant number of consumers are prepared to switch brands if one is more eco-friendly than the other.

The responsibility that businesses have to the local and wider community, the environment and their staff is not to be undermined and is even a determining factor when investors are scouting for companies to place their funds into so there are many reasons why it makes sense for businesses to be ethically aware.

Having a social conscience within business operations involves recognising, acknowledging and acting upon any social and environmental issues that your organisation impacts upon. This could range from paying for carbon offsets in order to help counteract the impact of electricity consumption to simply using earth friendly ingredients in your products.

Acting in a responsible way could involve giving back to the community in which you operate from, by taking part in small scale initiatives like local street clean-up’s or supporting local charity events. Get people on your side by being a good neighbour to the local community and make sure your business presence is a benefit and not a burden.

Corporate social responsibility extends to within the organisation as well and issues such as staff welfare are becoming more prevalent. Truly ethical businesses therefore need to pay attention to staff needs which could range from working conditions to contracted hours and employee benefits.

It makes perfect sense to overhaul your operations in order to be more environmentally friendly or get more involved in a community, all in order to boost your bottom line and businesses that do so are likely to do better than those who do not. Base your business decisions on the social and environmental consequences of your operational activities instead of just the profit margins and realise the true cost of your corporate actions.