Benefits of Being Socially Responsible

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Benefits of Being Socially Responsible By 2014, most companies should have hopped on the socially responsible wagon. Building a responsible business with reputation, places its position in society and market. Being a socially responsible company has many benefits. It gives you a better public image, better work environment, and encourages company partnerships. Ben and Jerry’s is a perfect example of a socially responsible company. To start, they use fair trade ingredients. When you buy Fairtrade certified products, know that the farmers who grew the ingredients received a fair price for their products. In return, Fairtrade farmers agree to use environmentally friendly farming practices, implement fair working standards, and invest in their communities. Fair trade is set in place to make sure the global economy is serving the people. A benefit to being socially responsible is how the public sees you. Most consumers prefer to buy from ethical businesses. Although they need your products, competition allows them to pick in their favor. Not only does being socially responsible give you a better public image, it also will give you better and more media coverage. The amount of positive media coverage a corporation receives is extremely important for business. Another example of Ben and Jerry being socially responsible is their corporate philanthropy. Ben & Jerry’s also donate a portion of its pre-tax profits to corporate philanthropy. Corporate philanthropy is employee-led through the Ben & Jerry's Foundation. They also have a philanthropy called “The Foundation” which is employee-led by non-management, employee advisory groups who consider proposals and recommend grants. They award $1.8 million annually to eligible organizations in America and around Vermont. This foundation awards 5 grants annually. One
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