87% of customers are willing to choose brands that stand up for an issue they care about, and are more concerned with how involved businesses are in social justice issues locally and around the world. Responsibility is a duty to act and to answer for the results of your actions. When you consider that 66% of customers are willing to spend more with brands that demonstrate a commitment to social and environmental initiatives, it’s clear that social responsibility is a highly effective customer retention tool. MudLOVE started with a simple vision: use their business to love others. Social responsibility is an ethical theory in which individuals are accountable for fulfilling their civic duty, and the actions of an individual must benefit the whole of society. [13] The other motive behind this is that the companies should not be focused only on maximization of profits. The definition of shared experience with examples. These resources help corporations and their consumers identify potential risks associated with a product’s lifecycle and enable end users to confirm the corporation’s practices adhere to social responsibility. Examples of Corporate Social Responsibility: 1) BMW. To put this concept into perspective, we’ve put together a list of the 10 best socially responsible initiatives that keep customers coming back for more. While ivory ella isn’t the only for profit company whose business model revolves around social responsibility, they are one of the few doing everything they can to make their customers aware of the cause they’re supporting. This retention tool, combined with a positive brand voice and social media presence, develops brand loyalty and puts sustainability at the front of their business. we can write an original essay just for you. Social responsibility is a huge priority for your customers. If you’d like this or any other sample, we’ll happily email it to you. The definition of intuition with examples of theories that try to explain it. By continuing we’ll assume you board with our cookie policy. Reproduction of materials found on this site, in any form, without explicit permission is prohibited. Not only are they providing their customers with high quality fashion, but they’re also inviting them to do something good for their local community. Student social responsibility is the responsibility of every student for their actions. This aligns their values with those of their customers’, creating a greater emotional relationship that will prompt customers to choose them over a competitor the next time they redecorate their home. That being said, the 10 brands we mentioned here are only a handful of the businesses setting the stage for the future of business practices. It is about being accountable for our actions and being conscious of the impact your actions have on others, our communities, and the environment. Home — Essay Samples — Business — Corporate Social Responsibility — Individual and corporate social responsibility. Find out 16 examples of how some major brands are doing it successfully. Customers can also take advantage of IKEA’s recycling program that disposes of used products on the customer’s behalf. so much so that the company was ranked 2nd in Sweden’s most Sustainable Brands Index. This group has taken on projects including a discussion of Internet governance and a reasonable set of rights that people should have with respect to use of the Internet and other technology. A list of issues and principles related to business ethics. This stems from a desire to build authentic, emotional connections with the brands they’re shopping. H&M is one the greatest examples of social responsibility at work in the fashion industry. With an independent site dedicated to showcasing the company's’ sustainable practices, customers have access to sustainability reports and supplier details that clearly outline H&M’s commitment to ethical and environmentally-conscious business practices. Remember: This is just a sample from a fellow student. EB Games provides customers with attractive offers in exchange for used games, consoles, and gear as a way of turning sustainability into a customer retention strategy. These practices evaluate coffee production against economic, social, and environmental criteria that must be met before it’s purchased. A duty to act and to answer for the results of your actions. EB Games run the fantastic Edge Rewards program, According to Defenders of Wildlife there are less than 800,000 elephants alive in the world. By taking an active participation in resolving some of the issues, we as individuals should all strive to set good examples by applying and adhering to socially responsible practices, such as improving the quality of lives for individuals and their families, volunteer energy and time towards improving and benefiting society. Charlie Hustle has built their brand around not only selling the softest t-shirts around but also boasting lots of civic pride.