SOCIAL RESPONSIBILITY MANAGEMENT

Role Of Social Responsibility Management Into Marketing Strategy Of UK's Financial Organizations

Role Of Social Responsibility Management Into Marketing Strategy Of UK's Financial Organizations

Role Of Social Responsibility Management Into Marketing Strategy Of UK's Financial Organizations

The theory of corporate social responsibility is already well-known Russian business, and many companies use it, not in words but in deeds. In this article tells the reader about the implementation of the principles of corporate social responsibility in the marketing strategies of companies and sets out the relevant examples from foreign practice.

What Is Corporate Social Responsibility

Corporate Social Responsibility (CSR) - ethical conduct of business in relation to the human community - is no longer for the business community with something exotic. A growing number of companies realize that their business directly affects the society in which they live, and future success in business is closely linked with key public values. The introduction of corporate social responsibility policy is recognized factor in the profitability of companies in connection with which the business began to respond to calls from investors, governments and society to clarify the impact of primary production to the world. Introduced in 1970, due to rising concerns about environmental pollution, today expanded the concept of CSR seriously. Now more important than what companies are doing with the money they earned, and how they earned that money. The advantages that give companies the implementation of corporate responsibility strategies include increased staff satisfaction, reduce turnover and increase brand value. Companies that have not acceded to this game are missing a business opportunity, losing competitive advantage and fall behind in management. Not implementing CSR strategy, they first of all, do not track and monitor the impact of production on society and the environment, and secondly, do not fully realize its economic potential. One can speak of two main components of the concept of CSR. The first - is to minimize business risk, ie, the identification and filling of all the gaps that exist in the relations between the company and society. Identify the gaps - the first step towards the implementation of CSR. Some compare it with the insurance policy that protects the company from the surprises and challenges in the future. For example, in the context of global anti-obesity industry food and drink lost its legs, trying to meet the expectations of society.  The company's specialists have studied and classified the goods according to the degree of harm and have focused on the issue of the least harmful, forcing suppliers to follow suit. Thus, we see that companies can use their core business to deal with social problems. This is not charity or philanthropy - it is a social innovation (Carroll, Buchholtz, 2006, p. 37).

The benefits of CSR for business

There are ten main advantages of CSR for business development:

Increased profits, increased growth rates.

Companies have access to socially responsible investments in the distribution which investors take into account the indicators of the company's activities in the social and ethical matters, the protection of the environment. There are several indices to evaluate the degree of social responsibility of ...