Why Should Your Business Care About Social Responsibility?

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The Entrepreneur magazine article, “Why Should Your Business Care About Social Responsibility?” was written by Jeffrey Hayzlett, a renowned show host, author, and speaker. The aforementioned article connects to the second chapter of the book, Contemporary Business, by Gene Boone and David Kurtz. Throughout his article, Hayzlett explicitly praises the usefulness of a company’s ability to be socially responsible in its venture to be profitable. Hayzlett makes it clear that businesses that are socially responsible get consumers who are willing to “pay more for [the company’s] products and services.” Hayzlett also mentions the fact that consumers demand that “companies change their practices” and apply a “more hands-on approach to making the…show more content…
Additionally, in today’s highly innovative and technological world, according to Hayzlett, it is not very difficult for customers to spread the message of unethical business actions taking place. Also, the more socially responsible a company is, the more desirable of a workplace it seems to employees and is therefore a driver of employee engagement. Secondly, Hayzlett states that “as a result of [corporate social responsibility,” blue chip companies are able to “empower the poorest sector… in order to [create more opportunity].” The quality of businesses to mint money and at the same time having a positive impact on the world is highly promoted by Hayzlet and is referred to in his article as a “win-win situation.” Many businesses around the world, such as Coca-Cola, are earning giant revenues, while at the same time empowering about five million women worldwide. Additionally, research has shown that maintaining social responsibilities such as empowering women has resulted in “increased revenues … [and] more prosperous communities.” Lastly, Hayzlet makes sure to specify that even smaller companies, unlike Coca-Cola, can make a difference by focusing on exemplifying the “3 P’s” principle: “people, planet, profits.” Such businesses, also known as B Corporations, are now making a sufficient
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