CSR is essential and beneficial for society and the environment and the competitiveness and image of companies.
Several advantages to applying a CSR policy can be mentioned:
- The interest is economic. Enterprises can benefit financially from CSR, for instance by making savings in energy and raw material consumption thanks to more productive workers (e.g. reducing illness- and accident-related absences and early retirement from working life), better credit terms and easier access to the capital market.
- Secondly, the interest is strategic. Systematic handling of CSR can have a positive influence on an enterprise’s competitive edge, since customers are increasingly taking CSR criteria into account. In general, substantial management of CSR can help an enterprise achieve an advantageous position on the market and promote innovation. Responsible business conduct can also, for example, give enterprises a competitive edge when taking part in public tenders.
- The impact from the point of view of an enterprise’s image is undeniable. CSR allows the enterprise to act in a more sustainable manner and therefore reduce public criticism. A reputation as a responsible employer also boosts successful recruitment, since employees are increasingly mindful of the values of an enterprise and its integrity.
- Responsible corporate conduct also contributes to the early identification of changes in general policy conditions and the appropriate responses.