According to Investopedia.com, Corporate Social Responsibility is a corporation’s initiative to assess and take responsibility for the company’s effects on environmental and social wellbeing.
For most organizations, especially, the developing ones, Corporate Social Responsibility sounds like a project that will demand a lot of financial resources that they are unable to provide. As a result, most small businesses shy away from the idea of corporate social responsibility.
Every worganization has a community that surrounds it and while they may be in need of the goods and services being offered, it is integral that a business also wins the favor and loyalty of the surrounding community.
This is because, if it’s not already there, competition will soon make its way and one of the ways to maintain customer loyalty will be through community initiatives that are geared towards improving the wellbeing of the society around.
Below are a few community projects that small businesses can engage in;
- Taking care of the environment. Every business is located in an area that might not always be sparkling clean. A business can organize an event where the employees join the people working or living in that community to collect garbage and clean the area. This will be cheap as all they’ll need to purchase are gloves and disposal papers which are not very expensive. While doing this, the employees will get a chance to interact with members of the community and form friendships as well as improving the sanitation in their environment.
- Giving gifts to servicemen. Most businesses have branded products that they produce such as umbrellas, mugs etc. A business could also be a wholesale shop that sells household goods. A business can identify officials like the traffic policemen operating nearby and give them items like umbrellas that they can use when it’s raining, hot mugs to keep their coffee or tea or even handing out water now and then. These are simple items that won’t cost them much but will demonstrate their concern for those around them.
- Corporate social responsibility can also take place within the organization. For example, most organizations hold functions where they invite the stakeholders. During such events, most organizations prepare gift packages for the attendees. When such gift packs remain, instead of being stored away, the organization can take those items and gift them to the employees to also boost their morale.
- Lastly, the business can also take part in projects being done by the community. For example when there’s a fundraiser, they can contribute some money, they can also assist the community when they are doing projects like building boreholes, or public washrooms etc. The business can also help repair a road in the community that is worn out or repaint a public washroom, or a stage where people wait for public transport.
These are a few projects that a business can consider adopting in their CSR initiatives. You don’t need millions of money in order to hold fancy initiatives. It’s all about assessing the environment around you and using what you have to help improve the lives of others.