The World Business Council for Sustainable Development in its publication “Making Good Business Sense” by Lord Holme and Richard Watts, used the following definition:
“Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large”
Businesses want to give their commitment but lack the time or knowledge to know where to invest their “social responsibility”. Businesses want to ensure their investment will help their community. The goodwill created by investing in social responsibility is immeasurable.
Richard Branson began his business from the basement of a house when he was 17.
In Feb 2013, Sir Richard Branson and his wife signed the “Giving Pledge” to give away half their wealth...”We want the value created by the Virgin Group to be used to invest in new collaborative approaches to addressing issues, where business, governments and not-for-profits join forces to create a healthy, equitable and peaceful world for future generations to enjoy."
Many small businesses start like Sir Richard Branson did!
How can businesses use social responsibility to assist in the local community?
JobQuest has assisted and project-managed many social enterprise projects. JobQuest is a Not-For-Profit organisation having commenced in Western Sydney in 1987.
Sponsoring Projects is an excellent way of investing in Social Responsibility. You can see the end result and you garner the goodwill. Projects can be one-offs, or ongoing as required by the community.
The amount of funds required for social enterprise projects vary giving all business sizes an opportunity to invest as they can afford.
Not all social enterprise projects require monetary investment.
Any business can invest its social responsibility in different ways including;
by giving work experience opportunities;
by assisting new employees gain nationally accredited qualifications while working; or
by sponsoring a particular project in the community.