From the birth of radio to the advent of SNS, brands have been introducing their product in various ways. It all started with word of mouth and recommendations from popular people. When radio and television came out, family will be surrounding the TV or radio and get informed about products which later becomes the main reason for buying the product. However, today, we are living in the sea of information. Now, the audiences thoroughly consider what particular type of product they want and what suits them the best. The bountiful brands put great effort into specializing their color. These days, one of the factors that make brands shine is corporate social responsibility.
What is Corporate Social Responsibility?
According to the United Nations Industrial Development organization, corporate social responsibility is a management model in which companies integrate with social and environmental concerns in their business operations and interactions with stakeholders. Specifically, it is divided into four sections of environmental sustainability initiatives, direct philanthropic giving, ethical business practices, and economic responsibility.
Importance of Corporate Social Responsibility
As we dive into the 21st century, corporations no longer focus on their purpose of business as gaining profit. By showing great care towards the community, firms are attracting a wide range of consumers and shareholders who share the same value with the company. This way, firms are able to maintain a stronger relationship between the buyers and the brand which leads to the essence of long-term success. For the engaging customers, they will be able to learn how their purchase affected the community. Also for the companies will be able to see how their action enhanced the local community and surroundings. On the inside of the company, corporate social responsibility gives employees morales and motivations to work which results in greater productivity. Additionally, corporate social responsibility ideology spreading positive strands to inside and outside community woven to each other.
Examples of Corporate Social Responsibility Product
One of the pioneers of corporate social responsibility is Patagonia. Patagonia has been donating to nonprofit environmental organizations and socially responsible firms/ventures. Moreover, through the usage of Environmental and Social Initiative Report, Patagonia reveals their online database of specific information on fair trade effort, material selection, and how the profits are used to the community. They just not simply make people buy the product. They give a reason why should they be purchasing their product. The way Patagonia copes with the environmental issue such as creating awareness through social media, being involved in activism convey how much the brand itself concerns about the society they thrive in. Other than the clothing field, also in the hair extension field is growing with social responsible mindset. Remy New York made by Dan Choi has been working on as the first ethical and transparent companies on the market. Dan would travel to the person who will sell their hair and give them a haircut, and get the hair by paying back with a reasonable price. While other companies were busy scamming people or calling the lowest price for the hair, Dan paid in a sense of the ethical way. Remy New York is still taking a baby step as a new social responsible firm, but the psyche that they carry will soon make them a giant in the market.
People say nothing can win the quintessence of truth and good deed of heart. Unlike the past, the brand is not simply what is shown on the surface. Today it is about how they approach with a sincere heart to the audience. The brands that are eager to make a difference in the world are the ones who can impress people.
By Jiyoon Ro