Introduction to SCR
Social Connect and Responsibility
Introduction
Why SCR is introduce
What Is Social Responsibility and Why Is It Important?
What is social responsibility, can be defined as an ethical framework in which individuals or corporations are accountable for fulfilling their civic duty and taking actions that benefit society. If a company or person is considering taking actions that could harm the environment or society, then those actions may seem socially irresponsible. According to this concept, managers are required to make decisions that not only maximise profits but also protect the interests of the community and society. Typically, companies adopt a plan to prioritise social responsibility. Then, the company self-regulates its initiatives and strategies based on those pre-determined goals.
Social responsibility can affect the public image of a business, which can impact profits and long-term success. Some businesses use social responsibilities to attract customers. Some customers who value community and social causes may pay more for a product that aligns with their values. Appealing to these customers can be a valid business strategy. Businesses that invest in their local community can see an increase in their own profit, too. For example, a company that invests in improving the infrastructure of the streets and sidewalks around its building is likely to earn more revenues because of the improved community.
Another important benefit is that employees may find purpose and motivation in a company's mission statement if it reflects their own values. Supporting the community employees live in can encourage them to work harder and develop a sense of pride and loyalty to the company. This can increase their productivity and lower employee turnover.
Social Responsibility And Ethics
Ethics refers to a set of moral principles that govern a company's behaviour. Companies can incorporate ethics into their daily activities. They can apply a code of social responsibility and ethical behaviour within an organisation and during interactions with others outside of the company. As long as a company upholds strong ethical standards and maintains social responsibility within the company, then the environment and employees can focus on profitability. But, if the company ignores its ethical standards and takes actions that are socially irresponsible, such as disregarding environmental regulations to increase profitability, government interference is often necessary.
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