Question

Why should marketers be concerned about CSR and sustainability?

Answer 1

Corporate social responsibility is nothing but the step taken by the organization which is beneficial for the society. Organizations is an instrument of domination and act as a single dominant system for the society whose presence or absence affects the society as a whole.

Business sustainability is an important aspect of controlling the problems of consumerism and also focus on meeting customers' needs. Sustainable business focus towards creating economic value, healthy ecosystems and strong communities. This type of business strives to meet the triple bottom-line.

Example - Green marketing - 3M has set goals to drive sustainability and to protect the customers and society. Pollution prevention pays program has been implemented to improve the manufacturing process, distribution process, promotion process, etc. in order to deliver sustainable products to the customers and society

Marketers should be concerned about CSR and sustainability because: -

• It makes the business sustainable and more environment friendly by making safe products and minimizing social and economic impact.
• It creates positive impression in customer's mind.
• It helps in improving the staff productivity by involving them in decision making process to make the business green. Green firm offers healthier and safer work environment and also attract best employees.
• It also attracts investors which increase the company's share price.
• It improves the reputation of the organization.
• It plays important role in guiding the organization to meet the goal effectively.
• Lots of saving and cost-cutting can be done in energy cost
• This type of change does not require lots of investment. In turn, it actually helps in saving money.
• Staff productivity can be improved by getting them involved in making the business and workplace greener. Green workplace will be healthier and safer for the employees’ health.
• Green firm attracts best employees.
• It gives legal and tax advantage by incorporating green technology in order to reduce emissions and wastes and complying with the state laws and regulations.
• It helps in improving the overall efficiency of the business by reducing waste production.