What is one step that a firm can take in order to become a more socially...

What is one step that a firm can take in order to become a more socially responsible business in short terms? (policy, standards etc, no right or wrong answers but has to be reasonable)

Expert Solution

In order to be more socially responsible, an organization can aim to become a sustainable organization. This includes using sustainability as a strategy. Using this, the focus is not only on the financial aspect but also the social and environmental impact of the business and the financial gains it can produce using this approach. Sustainability helps a company to reduce its carbon footprint, eliminate energy and plastic wastage, improve green cover and makes a company a green company. Sustainability improves the quality of operations. Simple steps like using eco substitutes for plastics, generating electricity from biowaste, reducing energy requirements and procuring from local suppliers can promote sustainable living. Hence, an organization can shift from a corporate entity focused on economic gains to a company focused on social economic and environmental gains which is much a wholesome development for a company and its employees and customers.

keosha answered 2 days ago

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